Granite Construction Incorporated (NYSE:GVA – Get Free Report) SVP Michael Tatusko sold 7,500 shares of Granite Construction stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $141.00, for a total value of $1,057,500.00. Following the completion of the sale, the senior vice president directly owned 29,787 shares in the company, valued at $4,199,967. This trade represents a 20.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Granite Construction Stock Performance
NYSE:GVA opened at $140.05 on Wednesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.09 and a quick ratio of 0.97. Granite Construction Incorporated has a 1 year low of $87.72 and a 1 year high of $145.00. The stock’s 50 day simple moving average is $131.13 and its two-hundred day simple moving average is $124.33. The company has a market cap of $6.13 billion, a price-to-earnings ratio of 40.36 and a beta of 1.32.
Granite Construction (NYSE:GVA – Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The construction company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.77) by $1.03. Granite Construction had a return on equity of 24.90% and a net margin of 3.99%.The business had revenue of $912.47 million for the quarter, compared to the consensus estimate of $782.26 million. During the same quarter in the previous year, the company posted $0.01 EPS. The company’s revenue was up 30.4% compared to the same quarter last year. As a group, equities analysts anticipate that Granite Construction Incorporated will post 5.13 earnings per share for the current fiscal year.
Granite Construction Dividend Announcement
Institutional Investors Weigh In On Granite Construction
Several large investors have recently added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd boosted its position in shares of Granite Construction by 512.8% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 239 shares of the construction company’s stock valued at $28,000 after buying an additional 200 shares during the period. Newbridge Financial Services Group Inc. purchased a new position in shares of Granite Construction during the fourth quarter valued at approximately $29,000. Spire Wealth Management purchased a new position in shares of Granite Construction during the fourth quarter valued at approximately $46,000. Root Financial Partners LLC boosted its position in shares of Granite Construction by 30.9% during the first quarter. Root Financial Partners LLC now owns 381 shares of the construction company’s stock valued at $46,000 after buying an additional 90 shares during the period. Finally, Federated Hermes Inc. boosted its position in shares of Granite Construction by 94.6% during the third quarter. Federated Hermes Inc. now owns 436 shares of the construction company’s stock valued at $48,000 after buying an additional 212 shares during the period.
Wall Street Analysts Forecast Growth
GVA has been the topic of a number of research reports. Zacks Research raised Granite Construction to a “hold” rating in a research note on Friday, May 29th. Wall Street Zen downgraded Granite Construction from a “buy” rating to a “hold” rating in a research note on Saturday, May 30th. Oppenheimer assumed coverage on Granite Construction in a research note on Thursday, May 28th. They set an “outperform” rating and a $170.00 price objective on the stock. Weiss Ratings cut Granite Construction from a “buy (b)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. Finally, DA Davidson boosted their price objective on Granite Construction from $130.00 to $155.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $149.67.
View Our Latest Analysis on Granite Construction
About Granite Construction
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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