Granite Construction Incorporated (NYSE:GVA) Announces $0.13 Quarterly Dividend

Granite Construction Incorporated (NYSE:GVA) declared a quarterly dividend on Tuesday, March 18th, RTT News reports. Investors of record on Monday, March 31st will be given a dividend of 0.13 per share by the construction company on Tuesday, April 15th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Monday, March 31st.

Granite Construction has a dividend payout ratio of 8.5% 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 Price Performance

NYSE GVA opened at $75.15 on Friday. The firm’s 50 day moving average is $82.57 and its 200-day moving average is $86.19. The company has a quick ratio of 1.56, a current ratio of 1.66 and a debt-to-equity ratio of 0.68. Granite Construction has a 12-month low of $52.99 and a 12-month high of $105.20. The company has a market capitalization of $3.26 billion, a PE ratio of 30.42 and a beta of 1.34.

Granite Construction (NYSE:GVA) last announced its quarterly earnings data on Thursday, February 13th. The construction company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.19). The company had revenue of $977.30 million for the quarter. Granite Construction had a return on equity of 20.67% and a net margin of 3.15%. During the same quarter in the prior year, the company posted $0.82 EPS. Equities research analysts anticipate that Granite Construction will post 5.49 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Granite Construction news, SVP Brian R. Dowd sold 2,025 shares of Granite Construction stock in a transaction on Friday, February 28th. The shares were sold at an average price of $81.55, for a total transaction of $165,138.75. Following the completion of the transaction, the senior vice president now directly owns 13,880 shares of the company’s stock, valued at $1,131,914. The trade was a 12.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO James A. Radich sold 2,500 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $87.14, for a total transaction of $217,850.00. Following the completion of the transaction, the chief operating officer now directly owns 28,256 shares in the company, valued at $2,462,227.84. The trade was a 8.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by corporate insiders.

About Granite Construction

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.