Granite Construction Director Sells $43,476 in Stock (GVA)
Granite Construction (NYSE:GVA) Director Gaddi H. Vasquez sold 1,200 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $36.23, for a total transaction of $43,476.00. Following the sale, the director now directly owns 7,269 shares of the company’s stock, valued at approximately $263,356. The sale was disclosed in a document filed with the SEC, which is available at this link.
Shares of Granite Construction (NYSE:GVA) traded up 1.13% during mid-day trading on Monday, hitting $36.75. 125,831 shares of the company’s stock traded hands. Granite Construction has a 1-year low of $27.88 and a 1-year high of $40.55. The stock’s 50-day moving average is $36.25 and its 200-day moving average is $35.43. The company’s market cap is $1.437 billion.
Granite Construction (NYSE:GVA) last issued its quarterly earnings data on Wednesday, April 30th. The company reported ($0.49) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.33) by $0.16. The company had revenue of $379.80 million for the quarter, compared to the consensus estimate of $426.95 million. During the same quarter in the prior year, the company posted ($0.57) earnings per share. The company’s quarterly revenue was up .3% on a year-over-year basis. On average, analysts predict that Granite Construction will post $1.47 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend is Thursday, June 26th.
Several analysts have recently commented on the stock. Analysts at Zacks upgraded shares of Granite Construction from an “underperform” rating to a “neutral” rating in a research note on Wednesday, April 30th. They now have a $38.20 price target on the stock. Analysts at Ned Davis Research upgraded shares of Granite Construction from a “sell” rating to a “neutral” rating in a research note on Monday, April 21st. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $36.30.
Granite Construction Incorporated is a diversified heavy civil contractors and construction materials producers in the United States.
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