Insider Selling: Granite Construction Incorporated (NYSE:GVA) COO Sells 2,500 Shares of Stock

Granite Construction Incorporated (NYSE:GVA) COO James A. Radich sold 2,500 shares of the company’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 sale, the chief operating officer now owns 28,256 shares of the company’s stock, valued at approximately $2,462,227.84. The trade was a 8.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Granite Construction Trading Down 2.7 %

Shares of GVA opened at $84.52 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.56 and a debt-to-equity ratio of 0.68. The firm has a 50-day moving average price of $89.24 and a 200 day moving average price of $85.16. Granite Construction Incorporated has a 12-month low of $48.11 and a 12-month high of $105.20. The firm has a market capitalization of $3.67 billion, a P/E ratio of 34.22 and a beta of 1.42.

Granite Construction (NYSE:GVA) last released its quarterly earnings results on Thursday, February 13th. The construction company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.42 by ($0.19). The firm had revenue of $977.30 million for 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 firm posted $0.82 earnings per share. Sell-side analysts forecast that Granite Construction Incorporated will post 5.49 EPS for the current year.

Granite Construction Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend was Tuesday, December 31st. Granite Construction’s payout ratio is 21.05%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Millennium Management LLC raised its stake in shares of Granite Construction by 11.0% in the 4th quarter. Millennium Management LLC now owns 2,651,676 shares of the construction company’s stock valued at $232,579,000 after acquiring an additional 263,302 shares during the period. First Trust Advisors LP increased its holdings in Granite Construction by 35.1% in the 4th quarter. First Trust Advisors LP now owns 1,131,419 shares of the construction company’s stock valued at $99,237,000 after purchasing an additional 294,200 shares during the last quarter. Pacer Advisors Inc. purchased a new stake in Granite Construction in the fourth quarter valued at approximately $92,154,000. Hill City Capital LP lifted its stake in Granite Construction by 5.2% during the third quarter. Hill City Capital LP now owns 978,938 shares of the construction company’s stock worth $77,610,000 after purchasing an additional 48,440 shares in the last quarter. Finally, Hennessy Advisors Inc. purchased a new position in shares of Granite Construction during the fourth quarter worth $61,046,000.

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.