Granite Construction Incorporated (NYSE:GVA) SVP Sells $346,100.00 in Stock

Granite Construction Incorporated (NYSE:GVA) SVP Michael G. Tatusko sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $69.22, for a total value of $346,100.00. Following the transaction, the senior vice president now directly owns 21,943 shares in the company, valued at approximately $1,518,894.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Granite Construction Price Performance

GVA traded up $0.02 during trading on Tuesday, reaching $68.92. 748,550 shares of the stock were exchanged, compared to its average volume of 503,288. The business’s 50 day moving average price is $63.07 and its two-hundred day moving average price is $56.96. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.68 and a quick ratio of 1.39. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 116.47 and a beta of 1.41. Granite Construction Incorporated has a 1 year low of $33.74 and a 1 year high of $73.01.

Granite Construction (NYSE:GVA) last posted its earnings results on Thursday, August 1st. The construction company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.41. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.01 billion. Granite Construction had a return on equity of 17.82% and a net margin of 2.35%. Granite Construction’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.03 earnings per share. As a group, equities research analysts anticipate that Granite Construction Incorporated will post 4.76 earnings per share for the current year.

Granite Construction Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a $0.13 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.52 annualized dividend and a dividend yield of 0.75%. Granite Construction’s dividend payout ratio is currently 88.14%.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group boosted their target price on Granite Construction from $55.00 to $61.00 and gave the stock a “sell” rating in a research report on Friday.

Institutional Trading of Granite Construction

Institutional investors and hedge funds have recently made changes to their positions in the stock. Rothschild Investment LLC purchased a new stake in shares of Granite Construction in the second quarter valued at $33,000. GAMMA Investing LLC purchased a new stake in shares of Granite Construction in the fourth quarter valued at $43,000. Wellington Shields & Co. LLC lifted its position in shares of Granite Construction by 30.8% in the first quarter. Wellington Shields & Co. LLC now owns 850 shares of the construction company’s stock valued at $49,000 after acquiring an additional 200 shares in the last quarter. Riverview Trust Co purchased a new stake in shares of Granite Construction in the first quarter valued at $107,000. Finally, Toth Financial Advisory Corp lifted its position in shares of Granite Construction by 35.1% in the fourth quarter. Toth Financial Advisory Corp now owns 2,500 shares of the construction company’s stock valued at $127,000 after acquiring an additional 650 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.