Insider Selling: Granite Construction Incorporated (NYSE:GVA) COO Sells 2,500 Shares of Stock

Granite Construction Incorporated (NYSE:GVA) COO James A. Radich sold 2,500 shares of Granite Construction stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $87.14, for a total transaction of $217,850.00. Following the transaction, the chief operating officer now directly owns 28,256 shares in the company, valued at $2,462,227.84. This trade represents a 8.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Granite Construction Price Performance

Shares of GVA stock traded down $2.31 during trading hours on Thursday, hitting $84.52. 902,473 shares of the company’s stock were exchanged, compared to its average volume of 578,688. The company has a market capitalization of $3.67 billion, a PE ratio of 34.22 and a beta of 1.42. Granite Construction Incorporated has a 12-month low of $48.11 and a 12-month high of $105.20. The business’s 50 day simple moving average is $89.46 and its 200-day simple moving average is $85.16. The company has a current ratio of 1.66, a quick ratio of 1.56 and a debt-to-equity ratio of 0.68.

Granite Construction (NYSE:GVA) last issued 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 return on equity of 20.67% and a net margin of 3.15%. The firm had revenue of $977.30 million during the quarter. During the same quarter last year, the company earned $0.82 EPS. On average, equities research analysts anticipate that Granite Construction Incorporated will post 5.49 earnings per share for the current year.

Granite Construction Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend was Tuesday, December 31st. Granite Construction’s dividend payout ratio is 21.05%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GVA. Pacer Advisors Inc. bought a new position in shares of Granite Construction in the fourth quarter worth approximately $92,154,000. Hennessy Advisors Inc. bought a new position in shares of Granite Construction in the fourth quarter worth approximately $61,046,000. Norges Bank bought a new stake in Granite Construction in the fourth quarter valued at $31,855,000. First Trust Advisors LP boosted its holdings in Granite Construction by 35.1% in the fourth quarter. First Trust Advisors LP now owns 1,131,419 shares of the construction company’s stock valued at $99,237,000 after acquiring an additional 294,200 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in Granite Construction by 11.0% in the fourth quarter. Millennium Management LLC now owns 2,651,676 shares of the construction company’s stock valued at $232,579,000 after acquiring an additional 263,302 shares in the last quarter.

Granite Construction Company Profile

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.