Granite Construction Incorporated (NYSE:GVA – Get Free Report) Director John Timothy Romer acquired 375 shares of the company’s stock in a transaction on Friday, June 12th. The shares were purchased at an average cost of $141.79 per share, with a total value of $53,171.25. Following the completion of the purchase, the director directly owned 2,426 shares of the company’s stock, valued at $343,982.54. This trade represents a 18.28% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
John Timothy Romer also recently made the following trade(s):
- On Monday, June 15th, John Timothy Romer acquired 375 shares of Granite Construction stock. The shares were purchased at an average price of $143.65 per share, for a total transaction of $53,868.75.
Granite Construction Price Performance
Granite Construction stock opened at $141.09 on Tuesday. The firm has a 50-day moving average price of $132.67 and a 200-day moving average price of $125.32. The firm has a market capitalization of $6.17 billion, a PE ratio of 40.66 and a beta of 1.32. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 0.80. Granite Construction Incorporated has a 12-month low of $88.17 and a 12-month high of $145.00.
Granite Construction Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.4%. Granite Construction’s dividend payout ratio is currently 14.99%.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on GVA. Wall Street Zen lowered Granite Construction from a “buy” rating to a “hold” rating in a research note on Saturday, May 30th. Oppenheimer began coverage on Granite Construction in a research report on Thursday, May 28th. They issued an “outperform” rating and a $170.00 price objective on the stock. Zacks Research upgraded Granite Construction to a “hold” rating in a research note on Friday, May 29th. Finally, Weiss Ratings downgraded Granite Construction from a “buy (b)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $149.67.
Check Out Our Latest Stock Report on GVA
Institutional Trading of Granite Construction
Institutional investors and hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC grew its stake in Granite Construction by 73.2% in the first quarter. AQR Capital Management LLC now owns 21,379 shares of the construction company’s stock worth $1,612,000 after purchasing an additional 9,038 shares in the last quarter. United Services Automobile Association purchased a new stake in shares of Granite Construction in the 1st quarter worth $207,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Granite Construction by 21.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 168,859 shares of the construction company’s stock worth $12,732,000 after buying an additional 29,428 shares during the period. Marshall Wace LLP grew its position in shares of Granite Construction by 2,423.4% during the 2nd quarter. Marshall Wace LLP now owns 89,882 shares of the construction company’s stock worth $8,405,000 after buying an additional 86,320 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new position in shares of Granite Construction during the second quarter valued at $229,000.
Granite Construction Company Profile
Granite Construction Inc is a publicly traded heavy civil contractor and construction materials producer based in Watsonville, California. The company specializes in delivering large-scale infrastructure projects for government and private clients, focusing on the development, rehabilitation and maintenance of transportation, water resource and industrial facilities. Its turnkey solutions span the full project lifecycle, from preconstruction and design-build to construction management and facilities maintenance.
In its construction segment, Granite undertakes highway and bridge building, airport runway and taxiway construction, marine terminal and port improvements, dam and reservoir projects, transit systems and underground utilities.
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