Granite Construction Incorporated (GVA) To Go Ex-Dividend on June 28th

Granite Construction Incorporated (NYSE:GVA) announced a quarterly dividend on Wednesday, June 5th, NASDAQ reports. Shareholders of record on Friday, June 28th will be given a dividend of 0.13 per share by the construction company on Monday, July 15th. This represents a $0.52 annualized dividend and a yield of 0.83%. The ex-dividend date is Friday, June 28th.

Granite Construction has a payout ratio of 10.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Granite Construction to earn $5.52 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 9.4%.

Granite Construction Stock Performance

NYSE GVA opened at $62.67 on Wednesday. The stock has a fifty day simple moving average of $60.04 and a 200-day simple moving average of $54.02. The company has a current ratio of 1.51, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The stock has a market cap of $2.77 billion, a PE ratio of 106.21 and a beta of 1.46. Granite Construction has a twelve month low of $33.74 and a twelve month high of $65.08.

Granite Construction (NYSE:GVA) last announced its earnings results on Thursday, May 2nd. The construction company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.28. Granite Construction had a net margin of 0.98% and a return on equity of 14.91%. The company had revenue of $672.28 million during the quarter. Equities analysts anticipate that Granite Construction will post 4.76 earnings per share for the current year.

Insider Buying and Selling

In other Granite Construction news, SVP Bradley Jay Williams sold 750 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $61.21, for a total value of $45,907.50. Following the completion of the transaction, the senior vice president now owns 7,423 shares in the company, valued at $454,361.83. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.81% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GVA. The Goldman Sachs Group boosted their target price on Granite Construction from $44.00 to $50.00 and gave the company a “sell” rating in a research report on Tuesday, April 16th. DA Davidson increased their target price on Granite Construction from $60.00 to $64.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th.

Granite Construction Company Profile

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.