Granite Construction (NYSE:GVA) Director John Timothy Romer Acquires 375 Shares

Granite Construction Incorporated (NYSE:GVA) Director John Timothy Romer acquired 375 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were bought at an average price of $143.65 per share, with a total value of $53,868.75. Following the completion of the transaction, the director owned 2,801 shares in the company, valued at $402,363.65. This represents a 15.46% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Friday, June 12th, John Timothy Romer bought 375 shares of Granite Construction stock. The stock was purchased at an average price of $141.79 per share, with a total value of $53,171.25.

Granite Construction Stock Performance

Shares of GVA stock opened at $141.09 on Tuesday. The firm has a market capitalization of $6.17 billion, a price-to-earnings ratio of 40.66 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 business’s 50-day moving average price is $132.67 and its 200-day moving average price is $125.32. Granite Construction Incorporated has a 12 month low of $88.17 and a 12 month high of $145.00.

Granite Construction (NYSE:GVA) last released its quarterly earnings data on Thursday, April 30th. The construction company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.77) by $1.03. Granite Construction had a return on equity of 24.90% and a net margin of 3.99%.The company had revenue of $912.47 million during the quarter, compared to the consensus estimate of $782.26 million. During the same quarter in the prior year, the firm posted $0.01 earnings per share. The firm’s revenue was up 30.4% compared to the same quarter last year. Equities research analysts forecast 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. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.52 annualized dividend and a dividend yield of 0.4%. Granite Construction’s dividend payout ratio (DPR) is presently 14.99%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on GVA shares. Oppenheimer started coverage on shares of Granite Construction in a research note on Thursday, May 28th. They issued an “outperform” rating and a $170.00 price objective on the stock. Zacks Research upgraded Granite Construction to a “hold” rating in a research report on Friday, May 29th. Wall Street Zen cut Granite Construction from a “buy” rating to a “hold” rating in a research note on Saturday, May 30th. Finally, Weiss Ratings lowered Granite Construction from a “buy (b)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $149.67.

Institutional Investors Weigh In On Granite Construction

Several institutional investors and hedge funds have recently made changes to their positions in GVA. Millennium Management LLC increased its holdings in Granite Construction by 8.9% in the third quarter. Millennium Management LLC now owns 1,602,382 shares of the construction company’s stock worth $175,701,000 after purchasing an additional 131,360 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Granite Construction by 52.8% in the 1st quarter. First Trust Advisors LP now owns 1,397,573 shares of the construction company’s stock valued at $167,541,000 after acquiring an additional 483,080 shares in the last quarter. Mizuho Markets Cayman LP lifted its position in shares of Granite Construction by 569.9% during the 3rd quarter. Mizuho Markets Cayman LP now owns 1,339,818 shares of the construction company’s stock valued at $151,064,000 after acquiring an additional 1,139,818 shares during the period. Dimensional Fund Advisors LP boosted its stake in Granite Construction by 0.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,067,545 shares of the construction company’s stock worth $127,969,000 after acquiring an additional 4,327 shares in the last quarter. Finally, Wasatch Advisors LP boosted its stake in Granite Construction by 12.4% during the third quarter. Wasatch Advisors LP now owns 861,770 shares of the construction company’s stock worth $94,493,000 after acquiring an additional 94,902 shares in the last quarter.

Granite Construction Company Profile

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.