Bradley Jay Williams Sells 750 Shares of Granite Construction Incorporated (NYSE:GVA) Stock

Granite Construction Incorporated (NYSE:GVA) SVP Bradley Jay Williams sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $61.21, for a total value of $45,907.50. Following the transaction, the senior vice president now owns 7,423 shares in the company, valued at approximately $454,361.83. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Granite Construction Price Performance

GVA stock opened at $61.34 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.51. The stock’s 50 day moving average price is $55.25 and its 200 day moving average price is $49.66. The firm has a market cap of $2.71 billion, a P/E ratio of 103.97 and a beta of 1.45. Granite Construction Incorporated has a 1 year low of $33.74 and a 1 year high of $61.62.

Granite Construction (NYSE:GVA) last issued its quarterly earnings results on Thursday, February 22nd. The construction company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). The business had revenue of $933.70 million for the quarter. Granite Construction had a return on equity of 14.91% and a net margin of 0.98%. During the same quarter in the previous year, the company posted $0.56 earnings per share. On average, sell-side analysts expect that Granite Construction Incorporated will post 4.29 earnings per share for the current fiscal year.

Granite Construction Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.85%. The ex-dividend date was Wednesday, March 27th. Granite Construction’s dividend payout ratio (DPR) is 88.14%.

Hedge Funds Weigh In On Granite Construction

A number of hedge funds have recently made changes to their positions in GVA. ProShare Advisors LLC lifted its position in Granite Construction by 7.4% during the first quarter. ProShare Advisors LLC now owns 8,891 shares of the construction company’s stock valued at $508,000 after buying an additional 613 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Granite Construction by 51.0% during the 1st quarter. Russell Investments Group Ltd. now owns 152,730 shares of the construction company’s stock worth $8,725,000 after purchasing an additional 51,597 shares during the period. Sei Investments Co. raised its position in Granite Construction by 11.8% in the first quarter. Sei Investments Co. now owns 14,663 shares of the construction company’s stock valued at $838,000 after purchasing an additional 1,543 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Granite Construction in the first quarter worth about $1,633,000. Finally, SG Americas Securities LLC lifted its position in Granite Construction by 296.6% during the 1st quarter. SG Americas Securities LLC now owns 13,138 shares of the construction company’s stock worth $751,000 after acquiring an additional 9,825 shares in the last quarter.

Analyst Upgrades and Downgrades

GVA has been the subject of several recent analyst reports. DA Davidson raised their price objective on shares of Granite Construction from $60.00 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. The Goldman Sachs Group boosted their price target on Granite Construction from $44.00 to $50.00 and gave the stock a “sell” rating in a research note on Tuesday, April 16th.

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.