Insider Selling: Granite Construction Incorporated (NYSE:GVA) COO Sells $217,850.00 in Stock

Granite Construction Incorporated (NYSE:GVA) COO James A. Radich sold 2,500 shares of Granite Construction stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $87.14, for a total transaction of $217,850.00. Following 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 trade represents a 8.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Granite Construction Price Performance

Shares of NYSE GVA opened at $82.15 on Friday. The firm has a market cap of $3.57 billion, a PE ratio of 33.26 and a beta of 1.42. The firm has a fifty day moving average of $89.01 and a 200 day moving average of $85.37. 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 Incorporated has a one year low of $48.11 and a one year high of $105.20.

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 the consensus estimate of $1.42 by ($0.19). The company had revenue of $977.30 million during the quarter. Granite Construction had a return on equity of 20.67% and a net margin of 3.15%. During the same period in the previous year, the firm posted $0.82 earnings per share. As a group, research analysts predict that Granite Construction Incorporated will post 5.49 EPS for the current fiscal year.

Granite Construction Announces Dividend

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

Institutional Investors Weigh In On Granite Construction

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Federated Hermes Inc. purchased a new stake in Granite Construction in the 4th quarter worth $26,000. Quarry LP grew its holdings in shares of Granite Construction by 68.4% during 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. grew its holdings in shares of Granite Construction by 66.4% during 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 worth $79,000 after buying an additional 477 shares in 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.