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

Granite Construction Incorporated (NYSE:GVA) announced a quarterly dividend on Tuesday, March 18th, RTT News reports. Stockholders of record on Monday, March 31st will be paid a dividend of 0.13 per share by the construction company on Tuesday, April 15th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.71%.

Granite Construction has a dividend payout ratio of 8.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Granite Construction to earn $6.97 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 7.5%.

Granite Construction Stock Performance

Shares of NYSE GVA traded down $0.58 during midday trading on Tuesday, reaching $73.19. 690,599 shares of the stock were exchanged, compared to its average volume of 569,303. The firm has a market cap of $3.18 billion, a price-to-earnings ratio of 29.63 and a beta of 1.34. Granite Construction has a twelve month low of $52.99 and a twelve month high of $105.20. The firm has a 50-day simple moving average of $84.96 and a two-hundred day simple moving average of $86.17. 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 (NYSE:GVA) last issued its quarterly earnings data on Thursday, February 13th. The construction company reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.19). Granite Construction had a return on equity of 20.67% and a net margin of 3.15%. The firm had revenue of $977.30 million for the quarter. During the same quarter last year, the firm earned $0.82 earnings per share. As a group, analysts anticipate that Granite Construction will post 5.49 EPS for the current fiscal year.

Insider Activity

In other Granite Construction news, SVP Brian R. Dowd sold 2,025 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $81.55, for a total value of $165,138.75. Following the transaction, the senior vice president now owns 13,880 shares in the company, valued at approximately $1,131,914. This trade represents a 12.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO James A. Radich sold 2,500 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $87.14, for a total value of $217,850.00. Following the completion of the transaction, the chief operating officer now owns 28,256 shares in the company, valued at $2,462,227.84. The trade was a 8.13 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.81% of the company’s stock.

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.