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

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

Granite Construction Trading Down 2.9 %

NYSE:GVA opened at $82.15 on Friday. The firm has a market capitalization of $3.57 billion, a P/E ratio of 33.26 and a beta of 1.42. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.66 and a quick ratio of 1.56. Granite Construction Incorporated has a one year low of $48.11 and a one year high of $105.20. The company’s 50-day simple moving average is $89.01 and its 200 day simple moving average is $85.25.

Granite Construction (NYSE:GVA) last issued its quarterly earnings results on Thursday, February 13th. The construction company reported $1.23 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 quarter in the prior year, the company posted $0.82 earnings per share. As a group, analysts forecast that Granite Construction Incorporated will post 5.49 EPS for the current fiscal year.

Granite Construction Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.13 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.63%. Granite Construction’s dividend payout ratio is currently 21.05%.

Hedge Funds Weigh In On Granite Construction

Several institutional investors and hedge funds have recently modified their holdings of GVA. Federated Hermes Inc. purchased a new stake in Granite Construction during the 4th quarter valued at about $26,000. Quarry LP lifted its stake in shares of Granite Construction by 68.4% in the fourth 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. Blue Trust Inc. lifted its stake in shares of Granite Construction by 66.4% in the third quarter. Blue Trust Inc. now owns 902 shares of the construction company’s stock worth $72,000 after buying an additional 360 shares in the last quarter. Aster Capital Management DIFC Ltd grew its holdings in shares of Granite Construction by 112.8% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 900 shares of the construction company’s stock valued at $79,000 after buying an additional 477 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC bought a new stake in shares of Granite Construction during the fourth quarter valued at approximately $89,000.

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.