Bradley Jay Williams Sells 6,734 Shares of Granite Construction (NYSE:GVA) Stock

Granite Construction Incorporated (NYSE:GVA) SVP Bradley Jay Williams sold 6,734 shares of Granite Construction stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $141.00, for a total transaction of $949,494.00. Following the completion of the sale, the senior vice president owned 7,041 shares of the company’s stock, valued at $992,781. This trade represents a 48.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Granite Construction Stock Performance

GVA traded down $1.48 during trading on Monday, reaching $139.87. 573,248 shares of the company’s stock were exchanged, compared to its average volume of 666,839. Granite Construction Incorporated has a 1 year low of $87.72 and a 1 year high of $145.00. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.09 and a quick ratio of 0.97. The stock has a market capitalization of $6.12 billion, a P/E ratio of 40.31 and a beta of 1.32. The company’s fifty day simple moving average is $130.28 and its 200-day simple moving average is $123.80.

Granite Construction (NYSE:GVA) last posted its quarterly earnings results on Thursday, April 30th. The construction company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.77) by $1.03. Granite Construction had a net margin of 3.99% and a return on equity of 24.90%. The company had revenue of $912.47 million during the quarter, compared to analyst estimates of $782.26 million. During the same period last year, the firm posted $0.01 EPS. Granite Construction’s revenue for the quarter was up 30.4% compared to the same quarter last year. As a group, research analysts predict that Granite Construction Incorporated will post 5.13 earnings per share for the current fiscal year.

Granite Construction Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.52 dividend on an annualized basis and a yield of 0.4%. Granite Construction’s dividend payout ratio (DPR) is currently 14.99%.

Wall Street Analyst Weigh In

GVA has been the subject of a number of recent research reports. Oppenheimer initiated coverage on shares of Granite Construction in a research report on Thursday, May 28th. They set an “outperform” rating and a $170.00 price target for the company. Zacks Research raised shares of Granite Construction to a “hold” rating in a research report on Friday, May 29th. DA Davidson raised their price target on shares of Granite Construction from $130.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. Weiss Ratings lowered shares of Granite Construction from a “buy (b)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. Finally, Wall Street Zen lowered shares of Granite Construction from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Granite Construction currently has a consensus rating of “Hold” and a consensus target price of $149.67.

Hedge Funds Weigh In On Granite Construction

Institutional investors have recently made changes to their positions in the company. 12th Street Asset Management Company LLC purchased a new position in shares of Granite Construction during the 3rd quarter valued at approximately $6,799,000. Oliver Luxxe Assets LLC purchased a new position in shares of Granite Construction during the 4th quarter valued at approximately $1,783,000. Boothbay Fund Management LLC increased its holdings in shares of Granite Construction by 9.1% during the 3rd quarter. Boothbay Fund Management LLC now owns 160,331 shares of the construction company’s stock valued at $17,580,000 after purchasing an additional 13,401 shares in the last quarter. Leuthold Group LLC increased its holdings in shares of Granite Construction by 1,591.8% during the 4th quarter. Leuthold Group LLC now owns 45,223 shares of the construction company’s stock valued at $5,216,000 after purchasing an additional 42,550 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co purchased a new position in shares of Granite Construction during the 3rd quarter valued at approximately $2,013,000.

Granite Construction Company Profile

Granite Construction Inc is a publicly traded heavy civil contractor and construction materials producer based in Watsonville, California. The company specializes in delivering large-scale infrastructure projects for government and private clients, focusing on the development, rehabilitation and maintenance of transportation, water resource and industrial facilities. Its turnkey solutions span the full project lifecycle, from preconstruction and design-build to construction management and facilities maintenance.

In its construction segment, Granite undertakes highway and bridge building, airport runway and taxiway construction, marine terminal and port improvements, dam and reservoir projects, transit systems and underground utilities.