Granite Construction Incorporated Announces Quarterly Dividend of $0.13 (NYSE:GVA)

Granite Construction Incorporated (NYSE:GVA) declared a quarterly dividend on Thursday, September 10th. Stockholders of record on Wednesday, September 30th will be given a dividend of 0.13 per share by the construction company on Thursday, October 15th. This represents a c) annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, September 30th.

Granite Construction has a dividend payout ratio of 8.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Granite Construction to earn $8.24 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 6.3%.

Granite Construction Trading Down 1.3%

Shares of GVA stock opened at $115.12 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 1.46. Granite Construction has a twelve month low of $97.26 and a twelve month high of $162.08. The company’s 50-day moving average price is $124.48 and its 200-day moving average price is $129.94. The stock has a market cap of $5.04 billion, a price-to-earnings ratio of -26.71 and a beta of 1.32.

Granite Construction (NYSE:GVA) last released its quarterly earnings data on Thursday, July 30th. The construction company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.09). Granite Construction had a positive return on equity of 27.83% and a negative net margin of 3.32%.The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the previous year, the business posted $1.42 earnings per share. Granite Construction’s revenue for the quarter was up 28.8% on a year-over-year basis. As a group, equities analysts predict that Granite Construction will post 6.36 earnings per share for the current year.

Insider Buying and Selling at Granite Construction

In other Granite Construction news, Director John Timothy Romer bought 375 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were purchased at an average price of $143.65 per share, with a total value of $53,868.75. Following the completion of the acquisition, the director directly owned 2,801 shares of the company’s stock, valued at $402,363.65. This represents a 15.46% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carlos M. Hernandez purchased 400 shares of the business’s stock in a transaction on Thursday, August 6th. The stock was acquired at an average price of $123.99 per share, for a total transaction of $49,596.00. Following the completion of the purchase, the director owned 5,033 shares of the company’s stock, valued at $624,041.67. This represents a 8.63% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.88% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Granite Construction

Hedge funds have recently made changes to their positions in the company. Aster Capital Management DIFC Ltd increased its position in shares of Granite Construction by 512.8% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 239 shares of the construction company’s stock worth $28,000 after purchasing an additional 200 shares in the last quarter. Root Financial Partners LLC boosted its position in shares of Granite Construction by 30.9% in the 1st quarter. Root Financial Partners LLC now owns 381 shares of the construction company’s stock valued at $46,000 after purchasing an additional 90 shares during the period. Quarry LP boosted its position in shares of Granite Construction by 1,417.6% in the 3rd quarter. Quarry LP now owns 516 shares of the construction company’s stock valued at $57,000 after purchasing an additional 482 shares during the period. Danske Bank A S acquired a new position in Granite Construction during the third quarter worth approximately $77,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in Granite Construction in the second quarter valued at approximately $86,000.

Granite Construction Company Profile

Granite Construction Incorporated (NYSE:GVA) is a civil infrastructure contractor that delivers construction and engineering services for public and private-sector customers. The company’s work includes the development and rehabilitation of transportation infrastructure such as highways, roads, bridges, airports, rail systems and mass-transit facilities.

Granite also provides services for water and wastewater systems, dams, utilities and other complex infrastructure projects. Its capabilities include project development, construction management, design-build delivery, general contracting, excavation, paving and related construction services.