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

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

Granite Construction Stock Performance

Shares of GVA opened at $82.51 on Friday. Granite Construction Incorporated has a 1 year low of $50.81 and a 1 year high of $105.20. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.56 and a current ratio of 1.66. The company’s fifty day moving average is $88.10 and its two-hundred day moving average is $85.71. The stock has a market capitalization of $3.58 billion, a P/E ratio of 33.40 and a beta of 1.42.

Granite Construction (NYSE:GVA) last announced its quarterly earnings data on Thursday, February 13th. The construction company reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.19). The business had revenue of $977.30 million for the quarter. Granite Construction had a return on equity of 20.67% and a net margin of 3.15%. During the same quarter in the previous year, the company earned $0.82 earnings per share. On average, sell-side analysts predict that Granite Construction Incorporated will post 5.49 earnings per share for the current year.

Granite Construction Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.63%. The ex-dividend date was Tuesday, December 31st. Granite Construction’s dividend payout ratio (DPR) is 21.05%.

Hedge Funds Weigh In On Granite Construction

Hedge funds and other institutional investors have recently bought and sold shares of the company. Federated Hermes Inc. purchased a new position in shares of Granite Construction in the fourth quarter valued at $26,000. Quarry LP boosted its position in shares of Granite Construction by 68.4% in the 4th quarter. Quarry LP now owns 325 shares of the construction company’s stock worth $29,000 after buying an additional 132 shares in the last quarter. Aster Capital Management DIFC Ltd grew its stake in Granite Construction by 112.8% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 900 shares of the construction company’s stock valued at $79,000 after acquiring an additional 477 shares during the last quarter. Blue Trust Inc. increased its holdings in Granite Construction by 66.4% during the 3rd quarter. Blue Trust Inc. now owns 902 shares of the construction company’s stock valued at $72,000 after acquiring an additional 360 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC acquired a new position in Granite Construction during the fourth quarter worth about $89,000.

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.