Insider Selling: Granite Construction Director Unloads 6,886 Shares of Stock (GVA)
Granite Construction (NYSE:GVA) Director Rebecca Ann Mcdonald unloaded 6,886 shares of Granite Construction stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $34.41, for a total value of $236,947.26. Following the completion of the sale, the director now directly owns 19,154 shares of the company’s stock, valued at approximately $659,089. The transaction was disclosed in a filing with the SEC, which is available at this link.
Separately, analysts at Zacks upgraded shares of Granite Construction from an “underperform” rating to a “neutral” rating in a research note on Wednesday, July 30th. They now have a $34.60 price target on the stock. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $35.40.
Granite Construction (NYSE:GVA) opened at 34.25 on Monday. Granite Construction has a 1-year low of $27.88 and a 1-year high of $40.55. The stock has a 50-day moving average of $34.86 and a 200-day moving average of $36.03. The company’s market cap is $1.341 billion.
Granite Construction (NYSE:GVA) last issued its quarterly earnings data on Friday, August 1st. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.09. The company had revenue of $585.90 million for the quarter, compared to the consensus estimate of $640.16 million. During the same quarter in the previous year, the company posted $0.07 earnings per share. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. Analysts expect that Granite Construction will post $1.47 EPS for the current fiscal year.
Granite Construction Incorporated is a diversified heavy civil contractors and construction materials producers in the United States.
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