Insider Selling: Granite Construction Incorporated (NYSE:GVA) SVP Sells 2,025 Shares of Stock

Granite Construction Incorporated (NYSE:GVA) SVP Brian R. Dowd sold 2,025 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $81.55, for a total transaction of $165,138.75. Following the sale, the senior vice president now owns 13,880 shares of the company’s stock, valued at approximately $1,131,914. This represents a 12.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Granite Construction Price Performance

GVA stock opened at $82.51 on Friday. The firm has a market capitalization of $3.58 billion, a price-to-earnings ratio of 33.40 and a beta of 1.42. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.56 and a current ratio of 1.66. Granite Construction Incorporated has a 52-week low of $50.81 and a 52-week high of $105.20. The firm has a 50 day moving average price of $88.26 and a 200-day moving average price of $85.61.

Granite Construction (NYSE:GVA) last posted its earnings results on Thursday, February 13th. The construction company reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.19). The company had revenue of $977.30 million during 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 business posted $0.82 earnings per share. Equities research analysts forecast that Granite Construction Incorporated will post 5.49 EPS for the current fiscal year.

Granite Construction Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.13 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.52 dividend on an annualized basis and a yield of 0.63%. Granite Construction’s payout ratio is presently 21.05%.

Institutional Investors Weigh In On Granite Construction

A number of institutional investors have recently bought and sold shares of GVA. Jefferies Financial Group Inc. lifted its stake in Granite Construction by 22.5% in the fourth quarter. Jefferies Financial Group Inc. now owns 51,443 shares of the construction company’s stock worth $4,512,000 after purchasing an additional 9,443 shares during the last quarter. Mackenzie Financial Corp lifted its position in Granite Construction by 84.9% during the fourth quarter. Mackenzie Financial Corp now owns 6,569 shares of the construction company’s stock valued at $576,000 after purchasing an additional 3,017 shares during the period. Squarepoint Ops LLC lifted its position in Granite Construction by 97.0% during the fourth quarter. Squarepoint Ops LLC now owns 41,455 shares of the construction company’s stock valued at $3,636,000 after purchasing an additional 20,415 shares during the period. Two Sigma Advisers LP acquired a new position in shares of Granite Construction in the fourth quarter worth about $992,000. Finally, Teza Capital Management LLC increased its stake in shares of Granite Construction by 71.4% during the fourth quarter. Teza Capital Management LLC now owns 6,461 shares of the construction company’s stock worth $567,000 after purchasing an additional 2,691 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.