Granite Construction Incorporated (NYSE:GVA) Announces $0.13 Quarterly Dividend

Granite Construction Incorporated (NYSE:GVA) announced a quarterly dividend on Tuesday, March 18th, RTT News reports. Stockholders of record on Monday, March 31st will be given a dividend of 0.13 per share by the construction company on Tuesday, April 15th. This represents a $0.52 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend is Monday, March 31st.

Granite Construction has a payout ratio of 8.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Granite Construction to earn $6.97 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 7.5%.

Granite Construction Stock Up 3.9 %

GVA opened at $75.94 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.66 and a quick ratio of 1.56. The business has a 50 day simple moving average of $84.41 and a 200-day simple moving average of $86.08. The stock has a market capitalization of $3.30 billion, a P/E ratio of 30.75 and a beta of 1.34. Granite Construction has a 12 month low of $52.99 and a 12 month high of $105.20.

Granite Construction (NYSE:GVA) last released its quarterly earnings data on Thursday, February 13th. The construction company reported $1.23 earnings per share 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 firm earned $0.82 earnings per share. On average, equities analysts anticipate that Granite Construction will post 5.49 earnings per share for the current fiscal year.

Insider Activity at Granite Construction

In related news, SVP Brian R. Dowd sold 2,025 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $81.55, for a total value of $165,138.75. Following the completion of the transaction, the senior vice president now directly owns 13,880 shares of the company’s stock, valued at $1,131,914. This trade represents a 12.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO James A. Radich sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $87.14, for a total value of $217,850.00. Following the completion of the transaction, the chief operating officer now directly owns 28,256 shares of the company’s stock, valued at $2,462,227.84. The trade was a 8.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by company insiders.

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.