John Timothy Romer Purchases 375 Shares of Granite Construction (NYSE:GVA) Stock

Granite Construction Incorporated (NYSE:GVA) Director John Timothy Romer acquired 375 shares of the stock in a transaction dated Monday, June 15th. The stock was bought at an average price of $143.65 per share, for a total transaction of $53,868.75. Following the purchase, the director owned 2,801 shares of the company’s stock, valued at $402,363.65. The trade was a 15.46% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

John Timothy Romer also recently made the following trade(s):

• On Friday, June 12th, John Timothy Romer purchased 375 shares of Granite Construction stock. The stock was bought at an average cost of $141.79 per share, with a total value of $53,171.25.

Granite Construction Price Performance

Shares of Granite Construction stock opened at $145.14 on Wednesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.09 and a quick ratio of 0.97. The company has a market cap of $6.35 billion, a PE ratio of 41.83 and a beta of 1.32. The firm has a fifty day moving average price of $133.14 and a two-hundred day moving average price of $125.59. Granite Construction Incorporated has a fifty-two week low of $88.17 and a fifty-two week high of $147.38.

Granite Construction (NYSE:GVA) last announced its quarterly earnings data on Thursday, April 30th. The construction company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of ($0.77) by $1.03. Granite Construction had a net margin of 3.99% and a return on equity of 24.90%. The business had revenue of $912.47 million during the quarter, compared to analyst estimates of $782.26 million. During the same quarter in the prior year, the business earned $0.01 earnings per share. The firm’s revenue for the quarter was up 30.4% on a year-over-year basis. Analysts expect that Granite Construction Incorporated will post 5.13 EPS for the current year.

Granite Construction Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.52 annualized dividend and a yield of 0.4%. Granite Construction’s dividend payout ratio is 14.99%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GVA. Weiss Ratings cut Granite Construction from a “buy (b)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. Wall Street Zen cut Granite Construction from a “buy” rating to a “hold” rating in a research report on Saturday, May 30th. Zacks Research raised shares of Granite Construction to a “hold” rating in a report on Friday, May 29th. Finally, Oppenheimer began coverage on shares of Granite Construction in a research note on Thursday, May 28th. They issued an “outperform” rating and a $170.00 price objective for the company. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Granite Construction currently has an average rating of “Hold” and a consensus price target of $149.67.

Institutional Trading of Granite Construction

A number of large investors have recently bought and sold shares of GVA. AQR Capital Management LLC lifted its holdings in shares of Granite Construction by 73.2% during the first quarter. AQR Capital Management LLC now owns 21,379 shares of the construction company’s stock valued at $1,612,000 after acquiring an additional 9,038 shares during the period. United Services Automobile Association acquired a new stake in shares of Granite Construction during the 1st quarter worth about $207,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Granite Construction by 21.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 168,859 shares of the construction company’s stock worth $12,732,000 after purchasing an additional 29,428 shares in the last quarter. Marshall Wace LLP lifted its holdings in Granite Construction by 2,423.4% during the 2nd quarter. Marshall Wace LLP now owns 89,882 shares of the construction company’s stock valued at $8,405,000 after purchasing an additional 86,320 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new position in Granite Construction in the second quarter valued at about $229,000.

About Granite Construction

Granite Construction Inc is a publicly traded heavy civil contractor and construction materials producer based in Watsonville, California. The company specializes in delivering large-scale infrastructure projects for government and private clients, focusing on the development, rehabilitation and maintenance of transportation, water resource and industrial facilities. Its turnkey solutions span the full project lifecycle, from preconstruction and design-build to construction management and facilities maintenance.

In its construction segment, Granite undertakes highway and bridge building, airport runway and taxiway construction, marine terminal and port improvements, dam and reservoir projects, transit systems and underground utilities.