Granite Construction Incorporated (NYSE:GVA) SVP Sells $185,814.00 in Stock

Granite Construction Incorporated (NYSE:GVA - Get Free Report) SVP Brian R. Dowd sold 2,025 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $91.76, for a total value of $185,814.00. Following the completion of the sale, the senior vice president now owns 18,819 shares in the company, valued at $1,726,831.44. This represents a 9.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Granite Construction Trading Down 0.2%

NYSE:GVA traded down $0.14 during trading hours on Friday, hitting $89.49. 591,486 shares of the company were exchanged, compared to its average volume of 660,536. The company has a fifty day simple moving average of $80.70 and a 200 day simple moving average of $85.69. Granite Construction Incorporated has a one year low of $58.23 and a one year high of $105.20. The company has a current ratio of 1.66, a quick ratio of 1.56 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $3.91 billion, a price-to-earnings ratio of 36.23 and a beta of 1.33.

Granite Construction (NYSE:GVA - Get Free Report) last issued its earnings results on Thursday, May 1st. The construction company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.43) by $0.44. The company had revenue of $699.55 million during the quarter, compared to the consensus estimate of $706.15 million. Granite Construction had a return on equity of 20.67% and a net margin of 3.15%. Granite Construction's quarterly revenue was up 4.0% on a year-over-year basis. Sell-side analysts expect that Granite Construction Incorporated will post 5.49 EPS for the current fiscal year.

Granite Construction Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend was Monday, March 31st. Granite Construction's dividend payout ratio (DPR) is presently 21.67%.

Hedge Funds Weigh In On Granite Construction

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Illinois Municipal Retirement Fund grew its position in Granite Construction by 0.5% during the fourth quarter. Illinois Municipal Retirement Fund now owns 23,747 shares of the construction company's stock worth $2,083,000 after buying an additional 115 shares in the last quarter. Mariner LLC lifted its stake in Granite Construction by 1.0% during the fourth quarter. Mariner LLC now owns 12,408 shares of the construction company's stock worth $1,088,000 after purchasing an additional 119 shares during the last quarter. Quarry LP lifted its stake in 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 purchasing an additional 132 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its stake in Granite Construction by 1.4% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 10,376 shares of the construction company's stock worth $910,000 after purchasing an additional 139 shares during the last quarter. Finally, CWM LLC lifted its stake in Granite Construction by 26.5% during the first quarter. CWM LLC now owns 674 shares of the construction company's stock worth $51,000 after purchasing an additional 141 shares during the last quarter.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group increased their price target on Granite Construction from $69.00 to $76.00 and gave the stock a "sell" rating in a research report on Monday, May 5th.

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.