Insider Selling: Granite Construction Incorporated (NYSE:GVA) COO Sells 2,500 Shares of Stock

Granite Construction Incorporated (NYSE:GVA - Get Free Report) COO James A. Radich sold 2,500 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $87.14, for a total value of $217,850.00. Following the completion of the sale, the chief operating officer now owns 28,256 shares of the company's stock, valued at $2,462,227.84. The trade was a 8.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Granite Construction Stock Down 0.7 %

NYSE:GVA traded down $0.60 on Monday, hitting $81.61. 531,774 shares of the company's stock traded hands, compared to its average volume of 580,516. The company has a market cap of $3.54 billion, a PE ratio of 33.04 and a beta of 1.42. Granite Construction Incorporated has a 1 year low of $48.51 and a 1 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 firm has a 50-day moving average price of $88.78 and a 200-day moving average price of $85.58.

Granite Construction (NYSE:GVA - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The construction company reported $1.23 EPS for the quarter, missing analysts' consensus estimates 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 previous year, the firm earned $0.82 earnings per share. Equities analysts anticipate that Granite Construction Incorporated will post 5.49 EPS for the current fiscal year.

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Granite Construction Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.52 annualized dividend and a yield of 0.64%. Granite Construction's dividend payout ratio is presently 21.05%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. HighTower Advisors LLC increased its stake in shares of Granite Construction by 176.4% during the 3rd quarter. HighTower Advisors LLC now owns 15,092 shares of the construction company's stock worth $1,199,000 after purchasing an additional 9,631 shares during the last quarter. Fiduciary Financial Group LLC acquired a new position in shares of Granite Construction during the 4th quarter worth $545,000. Pacer Advisors Inc. acquired a new position in shares of Granite Construction during the 4th quarter worth $92,154,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Granite Construction during the 3rd quarter worth $4,163,000. Finally, Intech Investment Management LLC acquired a new position in shares of Granite Construction during the 3rd quarter worth $1,312,000.

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.