Granite Construction Incorporated (NYSE:GVA) SVP Bradley Jay Williams Sells 750 Shares of Stock

Granite Construction Incorporated (NYSE:GVA) SVP Bradley Jay Williams sold 750 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $61.21, for a total value of $45,907.50. Following the sale, the senior vice president now owns 7,423 shares in the company, valued at $454,361.83. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Granite Construction Stock Down 0.4 %

Shares of Granite Construction stock opened at $59.56 on Wednesday. The company’s fifty day simple moving average is $55.04 and its two-hundred day simple moving average is $49.57. Granite Construction Incorporated has a 12-month low of $33.74 and a 12-month high of $61.62. The company has a current ratio of 1.51, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The company has a market cap of $2.63 billion, a P/E ratio of 100.95 and a beta of 1.45.

Granite Construction (NYSE:GVA) last issued its quarterly earnings data on Thursday, February 22nd. The construction company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.02). Granite Construction had a return on equity of 14.91% and a net margin of 0.98%. The company had revenue of $933.70 million during the quarter. During the same period in the previous year, the business earned $0.56 EPS. Research analysts anticipate that Granite Construction Incorporated will post 4.29 EPS for the current year.

Granite Construction Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.52 annualized dividend and a yield of 0.87%. Granite Construction’s payout ratio is 88.14%.

Hedge Funds Weigh In On Granite Construction

A number of institutional investors have recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC purchased a new stake in shares of Granite Construction in the 3rd quarter worth about $27,000. GAMMA Investing LLC bought a new stake in Granite Construction during the fourth quarter worth about $43,000. Wellington Shields & Co. LLC grew its holdings in Granite Construction by 30.8% in the first quarter. Wellington Shields & Co. LLC now owns 850 shares of the construction company’s stock worth $49,000 after purchasing an additional 200 shares during the period. Riverview Trust Co purchased a new stake in Granite Construction in the first quarter worth about $107,000. Finally, Toth Financial Advisory Corp increased its stake in shares of Granite Construction by 35.1% during the fourth quarter. Toth Financial Advisory Corp now owns 2,500 shares of the construction company’s stock valued at $127,000 after purchasing an additional 650 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GVA. The Goldman Sachs Group upped their price target on shares of Granite Construction from $44.00 to $50.00 and gave the company a “sell” rating in a report on Tuesday, April 16th. DA Davidson raised their target price on Granite Construction from $60.00 to $64.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th.

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.