Kyle T. Larkin Sells 3,617 Shares of Granite Construction Incorporated (NYSE:GVA) Stock

Granite Construction Incorporated (NYSE:GVA - Get Free Report) CEO Kyle T. Larkin sold 3,617 shares of the business's stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $80.38, for a total value of $290,734.46. Following the completion of the sale, the chief executive officer now directly owns 132,366 shares of the company's stock, valued at approximately $10,639,579.08. The trade was a 2.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Granite Construction Stock Up 0.5 %

Shares of GVA traded up $0.42 during mid-day trading on Monday, hitting $80.34. 360,980 shares of the company's stock were exchanged, compared to its average volume of 641,155. 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 Incorporated has a twelve month low of $54.95 and a twelve month high of $105.20. The firm has a fifty day moving average of $77.13 and a two-hundred day moving average of $85.90. The stock has a market cap of $3.49 billion, a price-to-earnings ratio of 32.53 and a beta of 1.26.

Granite Construction (NYSE:GVA - Get Free Report) last posted its earnings results on Thursday, February 13th. The construction company reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.42 by ($0.19). The company had revenue of $977.30 million for the quarter. Granite Construction had a net margin of 3.15% and a return on equity of 20.67%. During the same quarter in the prior year, the business posted $0.82 EPS. On average, sell-side 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. Stockholders of record on Monday, March 31st were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend was Monday, March 31st. Granite Construction's dividend payout ratio is 21.05%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Millennium Management LLC grew 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 valued at $232,579,000 after purchasing an additional 263,302 shares during the last quarter. First Trust Advisors LP grew its holdings in Granite Construction by 35.1% in the 4th 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 during the last quarter. Pacer Advisors Inc. acquired a new position in shares of Granite Construction during the fourth quarter worth approximately $92,154,000. Hennessy Advisors Inc. bought a new stake in shares of Granite Construction in the fourth quarter valued at approximately $61,046,000. Finally, Boston Partners grew its stake in shares of Granite Construction by 2.7% in the fourth quarter. Boston Partners now owns 584,398 shares of the construction company's stock worth $51,813,000 after acquiring an additional 15,597 shares during the last quarter.

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.

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