Granite Construction Inc. (NYSE:GVA) Director Claes Bjork sold 1,264 shares of the business’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $63.05, for a total value of $79,695.20. Following the completion of the sale, the director now directly owns 50,972 shares in the company, valued at approximately $3,213,784.60. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Granite Construction Inc. (NYSE GVA) traded down $0.10 during mid-day trading on Thursday, hitting $63.47. The stock had a trading volume of 272,100 shares, compared to its average volume of 381,217. The company has a market capitalization of $2,533.31, a P/E ratio of 49.28, a P/E/G ratio of 5.58 and a beta of 1.24. Granite Construction Inc. has a 12 month low of $45.14 and a 12 month high of $67.39. The company has a current ratio of 1.79, a quick ratio of 1.71 and a debt-to-equity ratio of 0.24.

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

The company also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 29th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.82%. Granite Construction’s payout ratio is currently 40.31%.

GVA has been the topic of several recent analyst reports. Zacks Investment Research raised Granite Construction from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research note on Friday, October 13th. Seaport Global Securities lowered Granite Construction from a “buy” rating to a “neutral” rating and set a $64.00 price objective on the stock. in a research note on Wednesday, October 11th. FBR & Co reissued a “buy” rating and issued a $68.00 price objective on shares of Granite Construction in a research note on Tuesday, October 3rd. Canaccord Genuity reissued a “buy” rating and issued a $70.00 price objective on shares of Granite Construction in a research note on Saturday, August 26th. Finally, Cowen reissued a “buy” rating and issued a $70.00 price objective on shares of Granite Construction in a research note on Tuesday, September 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $67.00.

Several hedge funds have recently added to or reduced their stakes in the company. Greenwood Capital Associates LLC raised its position in shares of Granite Construction by 1.9% during the second quarter. Greenwood Capital Associates LLC now owns 4,906 shares of the construction company’s stock worth $237,000 after acquiring an additional 92 shares during the last quarter. Retirement Systems of Alabama increased its holdings in Granite Construction by 0.4% in the second quarter. Retirement Systems of Alabama now owns 51,331 shares of the construction company’s stock valued at $2,476,000 after purchasing an additional 195 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in Granite Construction by 7.1% in the second quarter. Public Employees Retirement System of Ohio now owns 3,282 shares of the construction company’s stock valued at $158,000 after purchasing an additional 218 shares during the last quarter. Amalgamated Bank increased its holdings in Granite Construction by 4.2% in the second quarter. Amalgamated Bank now owns 5,695 shares of the construction company’s stock valued at $275,000 after purchasing an additional 232 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in Granite Construction by 4.6% in the second quarter. PNC Financial Services Group Inc. now owns 5,686 shares of the construction company’s stock valued at $275,000 after purchasing an additional 251 shares during the last quarter. Institutional investors own 98.59% of the company’s stock.

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About Granite Construction

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.

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