Granite Construction Inc. (NYSE:GVA) announced a quarterly dividend on Thursday, December 7th, RTT News reports. Investors of record on Friday, December 29th will be given a dividend of 0.13 per share by the construction company on Friday, January 12th. This represents a $0.52 dividend on an annualized basis and a yield of 0.80%.

Granite Construction has a dividend payout ratio of 31.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Granite Construction to earn $3.05 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 17.0%.

Granite Construction (NYSE:GVA) traded up $0.08 during trading hours on Thursday, reaching $65.37. 198,992 shares of the company were exchanged, compared to its average volume of 383,228. Granite Construction has a 52 week low of $45.14 and a 52 week high of $67.39. The company has a quick ratio of 1.71, a current ratio of 1.79 and a debt-to-equity ratio of 0.24. The company has a market cap of $2,574.36, a price-to-earnings ratio of 50.08, a P/E/G ratio of 5.67 and a beta of 1.24.

Granite Construction (NYSE:GVA) last posted its quarterly earnings results on Friday, October 27th. The construction company reported $1.14 EPS for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.04. Granite Construction had a net margin of 1.84% and a return on equity of 5.71%. The company had revenue of $957.10 million during the quarter, compared to analyst estimates of $905.14 million. During the same period in the prior year, the business posted $0.92 EPS. The firm’s revenue was up 19.1% compared to the same quarter last year. research analysts predict that Granite Construction will post 1.63 EPS for the current fiscal year.

In other Granite Construction news, Director William Howard Powell sold 3,103 shares of the business’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $63.85, for a total transaction of $198,126.55. Following the transaction, the director now directly owns 46,771 shares of the company’s stock, valued at approximately $2,986,328.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.30% of the stock is currently owned by insiders.

A number of equities research analysts recently commented on GVA shares. Zacks Investment Research upgraded shares of Granite Construction from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a report on Friday, October 13th. Canaccord Genuity reiterated a “buy” rating and set a $70.00 price target on shares of Granite Construction in a report on Saturday, August 26th. DA Davidson reissued a “hold” rating and set a $65.00 price objective on shares of Granite Construction in a research report on Monday, October 30th. Cowen reissued a “buy” rating and set a $70.00 price objective on shares of Granite Construction in a research report on Tuesday, September 19th. Finally, Seaport Global Securities downgraded shares of Granite Construction from a “buy” rating to a “neutral” rating and set a $64.00 price objective on the stock. in a research report on Wednesday, October 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company’s stock. Granite Construction presently has an average rating of “Buy” and an average target price of $67.00.

ILLEGAL ACTIVITY NOTICE: “Granite Construction Inc. (GVA) Declares $0.13 Quarterly Dividend” was originally reported by American Banking News and is the property of of American Banking News. If you are viewing this news story on another site, it was illegally copied and republished in violation of international copyright law. The legal version of this news story can be viewed at https://www.americanbankingnews.com/2017/12/07/granite-construction-inc-gva-declares-0-13-quarterly-dividend.html.

Granite Construction Company Profile

Granite Construction Incorporated is a heavy civil contractor and construction materials producer in the United States. The Company operates through three segments: Construction, Large Project Construction and Construction Materials. The Company operates across the nation, serving both public and private sector clients.

Dividend History for Granite Construction (NYSE:GVA)

Receive News & Ratings for Granite Construction Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Granite Construction Inc. and related companies with MarketBeat.com's FREE daily email newsletter.