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

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

Granite Construction Stock Performance

GVA opened at $82.51 on Friday. Granite Construction Incorporated has a 12-month low of $50.81 and a 12-month high of $105.20. The stock has a market cap of $3.58 billion, a price-to-earnings ratio of 33.40 and a beta of 1.42. The business has a 50 day moving average of $88.26 and a 200-day moving average of $85.61. 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 posted its quarterly earnings data 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 for the quarter. During the same quarter in the previous year, the business posted $0.82 EPS. On average, equities research analysts expect that Granite Construction Incorporated will post 5.49 earnings per share for the current year.

Granite Construction Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued 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 of this dividend was Tuesday, December 31st. Granite Construction’s dividend payout ratio (DPR) is 21.05%.

Institutional Inflows and Outflows

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