Granite Construction Incorporated (GVA) To Go Ex-Dividend on December 31st

by · The Markets Daily

Granite Construction Incorporated (NYSE:GVA – Get Free Report) declared a quarterly dividend on Thursday, December 11th. Investors of record on Wednesday, December 31st will be paid a dividend of 0.13 per share by the construction company on Thursday, January 15th. This represents a c) annualized dividend and a yield of 0.5%. The ex-dividend date is Wednesday, December 31st.

Granite Construction has a payout ratio of 8.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Granite Construction to earn $6.97 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 7.5%.

Granite Construction Trading Down 0.2%

NYSE:GVA opened at $114.95 on Friday. Granite Construction has a 12 month low of $69.08 and a 12 month high of $115.88. The company has a current ratio of 1.21, a quick ratio of 1.12 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $5.02 billion, a price-to-earnings ratio of 33.13 and a beta of 1.33. The firm has a fifty day simple moving average of $105.17 and a two-hundred day simple moving average of $101.51.

Granite Construction (NYSE:GVA – Get Free Report) last released its quarterly earnings data on Thursday, November 6th. The construction company reported $2.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.56 by $0.14. Granite Construction had a net margin of 4.31% and a return on equity of 24.04%. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the prior year, the firm earned $2.05 EPS. The business’s revenue was up 12.1% on a year-over-year basis. Analysts expect that Granite Construction will post 5.49 EPS for the current fiscal year.

Insider Activity at Granite Construction

In related news, Director Celeste Beeks Mastin sold 7,614 shares of the firm’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $105.23, for a total transaction of $801,221.22. Following the transaction, the director directly owned 10,206 shares of the company’s stock, valued at $1,073,977.38. This trade represents a 42.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Granite Construction

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ethic Inc. increased its position in shares of Granite Construction by 4.6% during the third quarter. Ethic Inc. now owns 2,341 shares of the construction company’s stock valued at $257,000 after acquiring an additional 104 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in Granite Construction by 7.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,642 shares of the construction company’s stock valued at $154,000 after purchasing an additional 111 shares during the period. Callan Family Office LLC increased its position in shares of Granite Construction by 4.4% during the 3rd quarter. Callan Family Office LLC now owns 2,774 shares of the construction company’s stock valued at $304,000 after purchasing an additional 118 shares during the last quarter. Evergreen Capital Management LLC raised its stake in shares of Granite Construction by 4.5% during the 2nd quarter. Evergreen Capital Management LLC now owns 2,813 shares of the construction company’s stock worth $263,000 after purchasing an additional 120 shares during the period. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Granite Construction by 1.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 10,675 shares of the construction company’s stock worth $1,172,000 after buying an additional 140 shares during the last quarter.

About Granite Construction

(Get Free Report)

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.

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