Granite Construction Incorporated (NYSE:GVA) COO Sells $217,850.00 in Stock

Granite Construction Incorporated (NYSE:GVA) COO James A. Radich sold 2,500 shares of the stock in a transaction dated 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 owns 28,256 shares of the company’s stock, valued at $2,462,227.84. This represents a 8.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Granite Construction Stock Performance

NYSE:GVA traded down $2.31 on Thursday, reaching $84.52. 902,473 shares of the company’s stock were exchanged, compared to its average volume of 578,688. 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 firm has a market cap of $3.67 billion, a price-to-earnings ratio of 34.22 and a beta of 1.42. Granite Construction Incorporated has a 52 week low of $48.11 and a 52 week high of $105.20. The stock has a fifty day simple moving average of $89.46 and a 200-day simple moving average of $85.16.

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). The business had revenue of $977.30 million for the quarter. Granite Construction had a return on equity of 20.67% and a net margin of 3.15%. During the same period in the previous year, the company earned $0.82 EPS. As a group, sell-side analysts predict that Granite Construction Incorporated will post 5.49 earnings per share for the current year.

Granite Construction Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date was Tuesday, December 31st. Granite Construction’s payout ratio is 21.05%.

Institutional Investors Weigh In On Granite Construction

A number of institutional investors and hedge funds have recently modified their holdings of GVA. Creative Planning lifted its holdings in shares of Granite Construction by 168.3% in the third quarter. Creative Planning now owns 8,827 shares of the construction company’s stock worth $700,000 after buying an additional 5,537 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Granite Construction by 66.4% in the third quarter. Blue Trust Inc. now owns 902 shares of the construction company’s stock worth $72,000 after buying an additional 360 shares in the last quarter. BayBridge Capital Group LLC purchased a new stake in shares of Granite Construction in the third quarter worth about $551,000. Hedges Asset Management LLC purchased a new stake in Granite Construction in the third quarter valued at approximately $238,000. Finally, Pinnacle Associates Ltd. raised its stake in Granite Construction by 3.2% in the third quarter. Pinnacle Associates Ltd. now owns 179,355 shares of the construction company’s stock valued at $14,219,000 after purchasing an additional 5,528 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.