Granite Construction Incorporated (NYSE:GVA) CEO Kyle T. Larkin Sells 3,617 Shares

Granite Construction Incorporated (NYSE:GVA) CEO Kyle T. Larkin sold 3,617 shares of the firm’s stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $80.38, for a total value of $290,734.46. Following the completion of the sale, the chief executive officer now directly owns 132,366 shares in the company, valued at $10,639,579.08. This trade represents a 2.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Granite Construction Stock Performance

NYSE:GVA opened at $80.34 on Tuesday. The stock’s 50-day simple moving average is $77.00 and its 200 day simple moving average is $85.89. The firm has a market capitalization of $3.49 billion, a PE ratio of 32.53 and a beta of 1.26. The company has a quick ratio of 1.56, a current ratio of 1.66 and a debt-to-equity ratio of 0.68. Granite Construction Incorporated has a twelve month low of $54.95 and a twelve month high of $105.20.

Granite Construction (NYSE:GVA) last released its quarterly earnings data on Thursday, February 13th. The construction company reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.42 by ($0.19). The business had revenue of $977.30 million during 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 business earned $0.82 earnings per share. On average, analysts anticipate that Granite Construction Incorporated will post 5.49 EPS for the current fiscal year.

Granite Construction Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.13 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.52 annualized dividend and a yield of 0.65%. Granite Construction’s dividend payout ratio is presently 21.05%.

Hedge Funds Weigh In On Granite Construction

Large investors have recently bought and sold shares of the company. Federated Hermes Inc. bought a new position in Granite Construction in the fourth quarter valued at about $26,000. Quarry LP raised its position in shares of Granite Construction by 68.4% during the fourth quarter. Quarry LP now owns 325 shares of the construction company’s stock worth $29,000 after acquiring an additional 132 shares during the last quarter. Rothschild Investment LLC lifted its stake in shares of Granite Construction by 80.3% in the first quarter. Rothschild Investment LLC now owns 640 shares of the construction company’s stock worth $48,000 after acquiring an additional 285 shares during the period. Blue Trust Inc. boosted its holdings in Granite Construction by 40.5% in the first quarter. Blue Trust Inc. now owns 781 shares of the construction company’s stock valued at $59,000 after acquiring an additional 225 shares during the last quarter. Finally, Versant Capital Management Inc increased its position in Granite Construction by 53.0% during the 1st quarter. Versant Capital Management Inc now owns 855 shares of the construction company’s stock valued at $64,000 after purchasing an additional 296 shares during the period.

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.