John Timothy Romer Purchases 375 Shares of Granite Construction (NYSE:GVA) Stock

Granite Construction Incorporated (NYSE:GVA) Director John Timothy Romer acquired 375 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was bought at an average cost of $141.79 per share, with a total value of $53,171.25. Following the acquisition, the director owned 2,426 shares in the company, valued at $343,982.54. The trade was a 18.28% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

John Timothy Romer also recently made the following trade(s):

• On Monday, June 15th, John Timothy Romer bought 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 Stock Performance

NYSE GVA opened at $145.14 on Wednesday. The firm has a market capitalization of $6.35 billion, a P/E ratio of 41.83 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. The firm’s fifty day moving average price is $133.14 and its two-hundred day moving average price is $125.59. Granite Construction Incorporated has a 1 year low of $88.17 and a 1 year high of $147.38.

Granite Construction (NYSE:GVA) last announced its quarterly earnings data on Thursday, April 30th. The construction company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of ($0.77) by $1.03. The company had revenue of $912.47 million during the quarter, compared to the consensus estimate of $782.26 million. Granite Construction had a net margin of 3.99% and a return on equity of 24.90%. The company’s quarterly revenue was up 30.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.01 EPS. As a group, research analysts anticipate that Granite Construction Incorporated will post 5.13 EPS for the current year.

Granite Construction Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, June 30th. Granite Construction’s payout ratio is 14.99%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on GVA shares. Zacks Research raised Granite Construction to a “hold” rating in a research report on Friday, May 29th. Weiss Ratings cut Granite Construction from a “buy (b)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. Oppenheimer initiated coverage on Granite Construction in a report on Thursday, May 28th. They set an “outperform” rating and a $170.00 price target for the company. Finally, Wall Street Zen cut shares of Granite Construction from a “buy” rating to a “hold” rating in a research report on Saturday, May 30th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $149.67.

Institutional Trading of Granite Construction

Institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System grew its position in shares of Granite Construction by 25.0% during the 1st quarter. California State Teachers Retirement System now owns 52,374 shares of the construction company’s stock worth $6,279,000 after purchasing an additional 10,484 shares in the last quarter. Empowered Funds LLC bought a new position in shares of Granite Construction during the first quarter worth approximately $1,160,000. Quantinno Capital Management LP raised its position in shares of Granite Construction by 39.1% in the first quarter. Quantinno Capital Management LP now owns 11,405 shares of the construction company’s stock valued at $1,367,000 after buying an additional 3,207 shares in the last quarter. Entropy Technologies LP acquired a new stake in shares of Granite Construction in the first quarter valued at approximately $473,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Granite Construction in the first quarter valued at approximately $25,562,000.

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.