Granite Construction Incorporated (NYSE:GVA) SVP Sells $165,138.75 in Stock

Granite Construction Incorporated (NYSE:GVA) SVP Brian R. Dowd sold 2,025 shares of the business’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $81.55, for a total transaction of $165,138.75. Following the completion of the transaction, the senior vice president now owns 13,880 shares of the company’s stock, valued at approximately $1,131,914. This represents a 12.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Granite Construction Stock Performance

Shares of GVA traded up $1.22 during trading hours on Friday, hitting $82.51. The stock had a trading volume of 567,384 shares, compared to its average volume of 581,212. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.56 and a current ratio of 1.66. The firm has a 50-day moving average price of $88.26 and a 200 day moving average price of $85.61. Granite Construction Incorporated has a fifty-two week low of $50.81 and a fifty-two week high of $105.20. The firm has a market capitalization of $3.58 billion, a price-to-earnings ratio of 33.40 and a beta of 1.42.

Granite Construction (NYSE:GVA) last posted its earnings results on Thursday, February 13th. The construction company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.42 by ($0.19). Granite Construction had a net margin of 3.15% and a return on equity of 20.67%. The firm had revenue of $977.30 million during the quarter. During the same period in the prior year, the company posted $0.82 EPS. As a group, research analysts anticipate that Granite Construction Incorporated will post 5.49 EPS for the current year.

Granite Construction Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.63%. The ex-dividend date was Tuesday, December 31st. Granite Construction’s payout ratio is presently 21.05%.

Institutional Investors Weigh In On Granite Construction

Several institutional investors and hedge funds have recently added to or reduced their stakes in GVA. Federated Hermes Inc. purchased a new stake in shares of Granite Construction during the fourth quarter worth $26,000. Quarry LP grew its holdings in shares of Granite Construction by 68.4% during the fourth quarter. Quarry LP now owns 325 shares of the construction company’s stock worth $29,000 after buying an additional 132 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Granite Construction by 66.4% during the third quarter. Blue Trust Inc. now owns 902 shares of the construction company’s stock worth $72,000 after buying an additional 360 shares in the last quarter. Aster Capital Management DIFC Ltd grew its holdings in shares of Granite Construction by 112.8% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 900 shares of the construction company’s stock worth $79,000 after buying an additional 477 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new stake in shares of Granite Construction during the fourth quarter worth $89,000.

About Granite Construction

Granite Construction Incorporated operates as an infrastructure contractor in the United States. It operates through two segments: Construction and Materials segments. The Construction segment engages in the construction and rehabilitation of roads, pavement preservation, bridges, rail lines, airports, marine ports, dams, reservoirs, aqueducts, infrastructure, and site development for use by the public and water-related construction for municipal agencies, commercial water suppliers, industrial facilities, and energy companies; and construction of various complex projects, including infrastructure/site development, mining, public safety, tunnel, solar storage, and power related projects.