Granite Construction Incorporated (NYSE:GVA) CEO Kyle T. Larkin Sells 2,790 Shares

Granite Construction Incorporated (NYSE:GVA - Get Free Report) CEO Kyle T. Larkin sold 2,790 shares of the stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $80.02, for a total transaction of $223,255.80. Following the completion of the sale, the chief executive officer now directly owns 136,384 shares of the company's stock, valued at $10,913,447.68. This trade represents a 2.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Granite Construction Stock Up 0.5 %

Granite Construction stock traded up $0.42 during trading hours on Monday, hitting $80.34. The company had a trading volume of 360,980 shares, compared to its average volume of 641,155. The firm's fifty day moving average is $77.13 and its 200-day moving average is $85.90. The firm has a market capitalization of $3.49 billion, a P/E ratio of 32.53 and a beta of 1.26. Granite Construction Incorporated has a fifty-two week low of $54.95 and a fifty-two week high of $105.20. 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 (NYSE:GVA - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The construction company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.42 by ($0.19). Granite Construction had a return on equity of 20.67% and a net margin of 3.15%. The firm had revenue of $977.30 million for the quarter. During the same period last year, the company posted $0.82 EPS. On average, research analysts forecast that Granite Construction Incorporated will post 5.49 earnings per share for the current year.

Granite Construction Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.13 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.52 annualized dividend and a dividend yield of 0.65%. Granite Construction's payout ratio is 21.05%.

Hedge Funds Weigh In On Granite Construction

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GVA. Pacer Advisors Inc. acquired a new position in shares of Granite Construction during the 4th quarter worth $92,154,000. Hennessy Advisors Inc. bought a new stake in Granite Construction in the fourth quarter worth $61,046,000. Norges Bank acquired a new position in Granite Construction during the fourth quarter worth $31,855,000. First Trust Advisors LP raised its holdings in Granite Construction by 35.1% during the fourth quarter. First Trust Advisors LP now owns 1,131,419 shares of the construction company's stock valued at $99,237,000 after buying an additional 294,200 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of Granite Construction by 11.0% in the fourth quarter. Millennium Management LLC now owns 2,651,676 shares of the construction company's stock worth $232,579,000 after buying an additional 263,302 shares during the last quarter.

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.

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