Granite Construction Incorporated (NYSE:GVA) SVP Brian R. Dowd Sells 2,025 Shares

Granite Construction Incorporated (NYSE:GVA) SVP Brian R. Dowd sold 2,025 shares of the company’s stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $91.76, for a total transaction of $185,814.00. Following the transaction, the senior vice president now owns 18,819 shares of the company’s stock, valued at approximately $1,726,831.44. This represents a 9.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Granite Construction Price Performance

GVA stock traded down $1.12 during trading on Wednesday, hitting $90.32. 653,257 shares of the company’s stock traded hands, compared to its average volume of 664,419. Granite Construction Incorporated has a 52 week low of $58.23 and a 52 week high of $105.20. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of 36.57 and a beta of 1.33. The business has a fifty day simple moving average of $79.97 and a 200 day simple moving average of $85.77. 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 (NYSE:GVA) last released its earnings results on Thursday, May 1st. The construction company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.43) by $0.44. The firm had revenue of $699.55 million for the quarter, compared to the consensus estimate of $706.15 million. Granite Construction had a return on equity of 20.67% and a net margin of 3.15%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. As a group, research analysts expect that Granite Construction Incorporated will post 5.49 EPS for the current fiscal year.

Granite Construction Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.52 annualized dividend and a yield of 0.58%. Granite Construction’s payout ratio is 21.67%.

Institutional Trading of Granite Construction

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. KBC Group NV boosted its position in shares of Granite Construction by 26.6% during the fourth quarter. KBC Group NV now owns 1,751 shares of the construction company’s stock valued at $154,000 after buying an additional 368 shares during the period. R Squared Ltd bought a new stake in shares of Granite Construction during the 4th quarter worth approximately $211,000. Precision Wealth Strategies LLC bought a new stake in shares of Granite Construction during the 4th quarter worth approximately $215,000. Longboard Asset Management LP purchased a new position in Granite Construction during the 4th quarter valued at $223,000. Finally, Robbins Farley grew its position in Granite Construction by 23.5% in the 4th quarter. Robbins Farley now owns 52,848 shares of the construction company’s stock valued at $4,635,000 after acquiring an additional 10,064 shares during the last quarter.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group boosted their price target on shares of Granite Construction from $69.00 to $76.00 and gave the stock a “sell” rating in a research note on Monday, May 5th.

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.