Granite Construction Incorporated Announces Quarterly Dividend of $0.13 (NYSE:GVA)

Granite Construction Incorporated (NYSE:GVA) announced a quarterly dividend on Tuesday, March 18th, RTT News reports. Shareholders of record on Monday, March 31st will be paid a dividend of 0.13 per share by the construction company on Tuesday, April 15th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.71%.

Granite Construction has a dividend payout ratio of 8.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Granite Construction to earn $6.97 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 7.5%.

Granite Construction Trading Down 0.8 %

Shares of GVA traded down $0.58 during midday trading on Tuesday, reaching $73.19. The company had a trading volume of 690,599 shares, compared to its average volume of 569,303. Granite Construction has a 1-year low of $52.99 and a 1-year high of $105.20. The stock has a market cap of $3.18 billion, a PE ratio of 29.63 and a beta of 1.34. The firm has a 50 day simple moving average of $84.96 and a 200-day simple moving average of $86.17. The company has a quick ratio of 1.56, a current ratio of 1.66 and a debt-to-equity ratio of 0.68.

Granite Construction (NYSE:GVA) last issued its earnings results on Thursday, February 13th. The construction company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.19). Granite Construction had a return on equity of 20.67% and a net margin of 3.15%. The company had revenue of $977.30 million during the quarter. During the same period in the previous year, the business earned $0.82 earnings per share. Research analysts forecast that Granite Construction will post 5.49 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Brian R. Dowd sold 2,025 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was 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 directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO James A. Radich sold 2,500 shares of Granite Construction stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $87.14, for a total value of $217,850.00. Following the completion of the transaction, the chief operating officer now directly owns 28,256 shares of the company’s stock, valued at approximately $2,462,227.84. This represents a 8.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.81% of the company’s stock.

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.