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

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 dividend on an annualized basis and a dividend yield of 0.71%.

Granite Construction has a payout ratio of 8.5% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Down 0.8 %

Shares of Granite Construction stock opened at $73.19 on Wednesday. Granite Construction has a 1 year low of $52.99 and a 1 year high of $105.20. The business has a 50 day moving average price of $84.66 and a 200 day moving average price of $86.15. 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 company has a market capitalization of $3.18 billion, a P/E ratio of 29.63 and a beta of 1.34.

Granite Construction (NYSE:GVA) last issued its earnings results on Thursday, February 13th. The construction company reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates 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 quarter in the prior year, the firm earned $0.82 EPS. Sell-side analysts anticipate that Granite Construction will post 5.49 EPS for the current fiscal year.

Insider Transactions at Granite Construction

In other Granite Construction news, SVP Brian R. Dowd sold 2,025 shares of Granite Construction 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 in the company, valued at $1,131,914. The trade was a 12.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO James A. Radich sold 2,500 shares of Granite Construction 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 owns 28,256 shares of the company’s stock, valued at approximately $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. Corporate insiders own 0.81% of the company’s stock.

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.