Granite Construction (NYSE:GVA) posted its earnings results on Friday. The construction company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.68 by $0.04, Morningstar.com reports. The firm had revenue of $801.30 million for the quarter, compared to analyst estimates of $753.83 million. Granite Construction had a return on equity of 5.71% and a net margin of 1.84%. Granite Construction’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period last year, the company earned $0.40 earnings per share.
Shares of Granite Construction (GVA) traded up $2.73 during mid-day trading on Friday, reaching $60.36. The company’s stock had a trading volume of 795,216 shares, compared to its average volume of 304,475. The stock has a market capitalization of $2,410.00, a P/E ratio of 46.08, a P/E/G ratio of 2.66 and a beta of 1.21. The company has a quick ratio of 1.71, a current ratio of 1.79 and a debt-to-equity ratio of 0.24. Granite Construction has a 52 week low of $45.14 and a 52 week high of $68.58.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Friday, March 30th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $0.52 dividend on an annualized basis and a yield of 0.86%. Granite Construction’s dividend payout ratio is currently 39.69%.
In other Granite Construction news, Director Claes Bjork sold 1,264 shares of the stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $63.05, for a total transaction of $79,695.20. Following the transaction, the director now owns 50,972 shares in the company, valued at $3,213,784.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.30% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Fieldpoint Private Securities LLC purchased a new position in Granite Construction during the third quarter worth approximately $106,000. Advisor Group Inc. boosted its position in Granite Construction by 169.1% during the third quarter. Advisor Group Inc. now owns 1,862 shares of the construction company’s stock worth $108,000 after purchasing an additional 1,170 shares in the last quarter. Royal Bank of Canada boosted its position in Granite Construction by 56.3% during the second quarter. Royal Bank of Canada now owns 2,441 shares of the construction company’s stock worth $118,000 after purchasing an additional 879 shares in the last quarter. Global X Management Co. LLC boosted its position in Granite Construction by 75.2% during the fourth quarter. Global X Management Co. LLC now owns 2,760 shares of the construction company’s stock worth $175,000 after purchasing an additional 1,185 shares in the last quarter. Finally, Tocqueville Asset Management L.P. purchased a new position in shares of Granite Construction in the fourth quarter valued at approximately $203,000. Institutional investors own 99.05% of the company’s stock.
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.
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