Granite Construction Incorporated (NYSE:GVA) CEO Sells $290,734.46 in Stock

Granite Construction Incorporated (NYSE:GVA) CEO Kyle T. Larkin sold 3,617 shares of the company’s stock in a transaction on Monday, April 28th. The shares were sold at an average price of $80.38, for a total transaction of $290,734.46. Following the completion of the sale, the chief executive officer now directly owns 132,366 shares in the company, valued at approximately $10,639,579.08. This represents a 2.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Granite Construction Trading Up 0.5 %

NYSE:GVA opened at $80.34 on Tuesday. The firm’s fifty day moving average is $77.00 and its 200-day moving average is $85.89. 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 52 week low of $54.95 and a 52 week high of $105.20. The firm has a market cap of $3.49 billion, a P/E ratio of 32.53 and a beta of 1.26.

Granite Construction (NYSE:GVA) last released its earnings results on Thursday, February 13th. The construction company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.19). Granite Construction had a net margin of 3.15% and a return on equity of 20.67%. The company had revenue of $977.30 million for the quarter. During the same quarter in the previous year, the firm earned $0.82 EPS. Equities analysts expect that Granite Construction Incorporated will post 5.49 earnings per share for the current year.

Granite Construction Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.65%. Granite Construction’s payout ratio is presently 21.05%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of GVA. Virtu Financial LLC acquired a new position in shares of Granite Construction during the 3rd quarter valued at $283,000. Tidal Investments LLC raised its holdings in Granite Construction by 195.8% during the third quarter. Tidal Investments LLC now owns 13,730 shares of the construction company’s stock worth $1,089,000 after buying an additional 9,089 shares during the last quarter. GAMMA Investing LLC raised its holdings in Granite Construction by 8.5% during the fourth quarter. GAMMA Investing LLC now owns 2,178 shares of the construction company’s stock worth $191,000 after buying an additional 171 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in Granite Construction by 8.8% during the fourth quarter. Harbor Capital Advisors Inc. now owns 19,946 shares of the construction company’s stock worth $1,749,000 after buying an additional 1,620 shares during the last quarter. Finally, Fiduciary Financial Group LLC acquired a new position in Granite Construction during the fourth quarter worth $545,000.

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.