James A. Radich Sells 2,500 Shares of Granite Construction Incorporated (NYSE:GVA) Stock

Granite Construction Incorporated (NYSE:GVA) COO James A. Radich sold 2,500 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $87.14, for a total transaction of $217,850.00. Following the sale, the chief operating officer now directly owns 28,256 shares of the company’s stock, valued at $2,462,227.84. The trade was a 8.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Granite Construction Trading Down 2.9 %

Shares of GVA stock opened at $82.15 on Friday. The company’s 50-day moving average price is $89.01 and its 200-day moving average price is $85.37. The company has a current ratio of 1.66, a quick ratio of 1.56 and a debt-to-equity ratio of 0.68. The stock has a market cap of $3.57 billion, a price-to-earnings ratio of 33.26 and a beta of 1.42. Granite Construction Incorporated has a twelve month low of $48.11 and a twelve month high of $105.20.

Granite Construction (NYSE:GVA) last announced its quarterly earnings results on Thursday, February 13th. The construction company reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.42 by ($0.19). The firm had revenue of $977.30 million for the quarter. Granite Construction had a net margin of 3.15% and a return on equity of 20.67%. During the same quarter last year, the firm posted $0.82 earnings per share. As a group, equities 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 given a dividend of $0.13 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.52 annualized dividend and a dividend yield of 0.63%. Granite Construction’s payout ratio is 21.05%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of GVA. Pacer Advisors Inc. acquired a new position in shares of Granite Construction during the 4th quarter valued at about $92,154,000. Hennessy Advisors Inc. acquired a new position in Granite Construction in the fourth quarter valued at about $61,046,000. Norges Bank acquired a new position in Granite Construction in the fourth quarter valued at about $31,855,000. First Trust Advisors LP lifted its position in Granite Construction by 35.1% in the fourth quarter. First Trust Advisors LP now owns 1,131,419 shares of the construction company’s stock valued at $99,237,000 after buying an additional 294,200 shares during the last quarter. Finally, Millennium Management LLC lifted its position in Granite Construction by 11.0% in the fourth quarter. Millennium Management LLC now owns 2,651,676 shares of the construction company’s stock valued at $232,579,000 after buying an additional 263,302 shares during the last quarter.

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.