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4-Traders Homepage  >  Equities  >  Nyse  >  Granite Construction Inc.    GVA

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Granite Construction : Declares Quarterly Dividend of $0.13 (GVA)

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12/09/2016 | 08:33pm CET

Granite Construction Inc. (NYSE:GVA) announced a quarterly dividend on Thursday, December 8th. Shareholders of record on Friday, December 30th will be paid a dividend of 0.13 per share on Friday, January 13th. This represents a $0.52 annualized dividend and a yield of 0.86%.

Shares of Granite Construction (NYSE:GVA) traded down 0.18% during mid-day trading on Thursday, reaching $60.32. 493,875 shares of the companys stock traded hands. The company has a market cap of $2.39 billion, a P/E ratio of 35.11 and a beta of 1.52. The firm has a 50-day moving average of $53.66 and a 200 day moving average of $48.65. Granite Construction has a 12-month low of $35.69 and a 12-month high of $62.18.

Granite Construction (NYSE:GVA) last announced its quarterly earnings results on Friday, October 28th. The company reported $0.92 EPS for the quarter, missing the Zacks consensus estimate of $0.98 by $0.06. The business had revenue of $803.90 million for the quarter, compared to the consensus estimate of $826.52 million. Granite Construction had a net margin of 2.77% and a return on equity of 7.85%. The businesss revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.77 EPS. Equities analysts forecast that Granite Construction will post $1.57 EPS for the current year.

In related news, insider Michael Francis Donnino sold 5,000 shares of the stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $58.06, for a total transaction of $290,300.00. Following the completion of the transaction, the insider now owns 57,280 shares in the company, valued at $3,325,676.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director James Hildebrand Roberts sold 4,175 shares of the stock in a transaction dated Wednesday, November 9th. The shares were sold at an average price of $52.00, for a total transaction of $217,100.00. Following the transaction, the director now owns 41,095 shares of the companys stock, valued at approximately $2,136,940. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the companys stock.

Institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its position in Granite Construction by 6,155.8% in the third quarter. Price T Rowe Associates Inc. MD now owns 935,235 shares of the companys stock valued at $46,519,000 after buying an additional 920,285 shares during the last quarter. Adage Capital Partners GP L.L.C. bought a new position in Granite Construction during the second quarter valued at $9,262,000. FMR LLC raised its position in Granite Construction by 620.6% in the second quarter. FMR LLC now owns 225,100 shares of the companys stock valued at $10,253,000 after buying an additional 193,864 shares during the last quarter. State of Wisconsin Investment Board bought a new position in Granite Construction during the second quarter valued at $6,769,000. Finally, The Manufacturers Life Insurance Company bought a new position in Granite Construction during the third quarter valued at $3,973,000. Institutional investors own 92.53% of the companys stock.

A number of analysts have commented on the stock. DA Davidson restated a hold rating and set a $53.00 price target on shares of Granite Construction in a research note on Tuesday, August 16th. Janney Montgomery Scott restated a hold rating and set a $53.00 price target on shares of Granite Construction in a research note on Tuesday, August 16th. Finally, Zacks Investment Research lowered shares of Granite Construction from a hold rating to a sell rating in a research note on Wednesday, October 5th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the companys stock. The stock currently has a consensus rating of Buy and an average price target of $53.89.

(c) 2016 All Rights Reversed for Saudi Press Agency Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ($)
Sales 2016 2 534 M
EBIT 2016 91,4 M
Net income 2016 58,1 M
Debt 2016 14,8 M
Yield 2016 0,86%
P/E ratio 2016 38,11
P/E ratio 2017 29,86
EV / Sales 2016 0,95x
EV / Sales 2017 0,80x
Capitalization 2 389 M
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Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 10
Average target price 64,1 $
Spread / Average Target 6,3%
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Managers
NameTitle
James Hildebrand Roberts President, Chief Executive Officer & Director
William Howard Powell Chairman
Christopher S. Miller Chief Operating Officer & Executive Vice President
Laurel J. Krzeminski Chief Financial Officer & Executive Vice President
David H. Kelsey Independent Director
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