Granite Construction (NYSE:GVA) CFO Staci Woolsey Sells 1,523 Shares

Granite Construction Incorporated (NYSE:GVA) CFO Staci Woolsey sold 1,523 shares of the firm’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $119.84, for a total value of $182,516.32. Following the transaction, the chief financial officer owned 18,954 shares in the company, valued at $2,271,447.36. This trade represents a 7.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Granite Construction Stock Up 0.0%

Shares of NYSE:GVA opened at $120.16 on Friday. Granite Construction Incorporated has a 1-year low of $69.08 and a 1-year high of $137.24. The company’s fifty day moving average is $126.36 and its two-hundred day moving average is $114.75. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.13 and a current ratio of 1.22. The stock has a market capitalization of $5.23 billion, a price-to-earnings ratio of 32.83 and a beta of 1.30.

Granite Construction (NYSE:GVA) last announced its quarterly earnings data on Thursday, February 12th. The construction company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. Granite Construction had a net margin of 4.36% and a return on equity of 24.10%. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the firm earned $1.23 EPS. The company’s revenue for the quarter was up 19.2% compared to the same quarter last year. Equities analysts anticipate that Granite Construction Incorporated will post 5.49 EPS for the current year.

Granite Construction Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a dividend of $0.13 per share. The ex-dividend date is Tuesday, March 31st. This represents a $0.52 dividend on an annualized basis and a yield of 0.4%. Granite Construction’s payout ratio is currently 14.21%.

Analyst Ratings Changes

A number of research firms recently weighed in on GVA. The Goldman Sachs Group increased their price objective on shares of Granite Construction from $109.00 to $124.00 and gave the stock a “neutral” rating in a report on Wednesday, January 28th. DA Davidson raised their price target on Granite Construction from $130.00 to $155.00 and gave the company a “buy” rating in a report on Friday, February 13th. Wall Street Zen raised shares of Granite Construction from a “hold” rating to a “buy” rating in a research note on Saturday, February 28th. Zacks Research raised Granite Construction from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Granite Construction in a research report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $139.50.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Maryland State Retirement & Pension System raised its position in shares of Granite Construction by 1.3% in the fourth quarter. Maryland State Retirement & Pension System now owns 6,378 shares of the construction company’s stock valued at $736,000 after purchasing an additional 83 shares during the period. Ethic Inc. boosted its holdings in Granite Construction by 4.6% during the third quarter. Ethic Inc. now owns 2,341 shares of the construction company’s stock valued at $257,000 after acquiring an additional 104 shares during the period. Callan Family Office LLC grew its position in shares of Granite Construction by 4.4% in the third quarter. Callan Family Office LLC now owns 2,774 shares of the construction company’s stock valued at $304,000 after purchasing an additional 118 shares during the last quarter. Evergreen Capital Management LLC lifted its position in shares of Granite Construction by 4.5% during the 2nd quarter. Evergreen Capital Management LLC now owns 2,813 shares of the construction company’s stock worth $263,000 after purchasing an additional 120 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in Granite Construction by 1.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 10,675 shares of the construction company’s stock valued at $1,172,000 after buying an additional 140 shares during the last quarter.

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.