Granite Construction said on March 24, 2023 that its board of directors declared a regular
quarterly dividend of $0.13 per share ($0.52 annualized).
Previously, the company paid $0.13 per share.
Shares must be purchased before the ex-div date of March 30, 2023 to qualify for the dividend.
Shareholders of record as of March 31, 2023
will receive the payment on April 14, 2023.
At the current share price of $40.36 / share,
the stock’s dividend yield is 1.29%.
Looking back five years and taking a sample every week, the average dividend yield has been
1.66%,
the lowest has been 0.88%,
and the highest has been 4.65%.
The standard deviation of yields is 0.66 (n=236).
The current dividend yield is
0.56 standard deviations
below
the historical average.
Additionally, the company’s dividend payout ratio is 0.27.
The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0)
means 100% of the company’s income is paid in a dividend.
A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a
healthy situation.
Companies with few growth prospects are expected to pay out most of their income in dividends, which typically
means a payout ratio between 0.5 and 1.0.
Companies with good growth prospects are expected to retain some earnings in order to invest
in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
Learn to Harvest Dividends
Buy Stock. Capture Dividend. Sell Stock. Repeat. This is the essence of dividend harvesting and you can
do it easily with Fintel’s Dividend Capture Calendar.
Analyst Price Forecast Suggests 29.90% Upside
As of March 27, 2023,
the average one-year price target for Granite Construction is $52.43.
The forecasts range from a low of $36.36 to a high of $59.85.
The average price target represents an increase of 29.90% from its latest reported closing price of $40.36.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Granite Construction
is $3,445MM, an increase of 4.35%.
The projected annual non-GAAP EPS
is $2.81.
What is the Fund Sentiment?
There are 467 funds or institutions reporting positions in Granite Construction.
This is an increase
of
13
owner(s) or 2.86% in the last quarter.
Average portfolio weight of all funds dedicated to GVA is 0.15%,
an increase
of 7.03%.
Total shares owned by institutions increased
in the last three months by 0.11% to 51,972K shares.
The put/call ratio of GVA is 0.08, indicating a
bullish
outlook.
What are Large Shareholders Doing?
IJR – iShares Core S&P Small-Cap ETF
holds 3,241K shares
representing 7.41% ownership of the company.
In it’s prior filing, the firm reported owning 3,217K shares, representing
an increase
of 0.73%.
The firm
increased
its portfolio allocation in GVA by 26.59% over the last quarter.
Fuller & Thaler Asset Management
holds 2,948K shares
representing 6.74% ownership of the company.
In it’s prior filing, the firm reported owning 2,764K shares, representing
an increase
of 6.24%.
The firm
increased
its portfolio allocation in GVA by 29.93% over the last quarter.
UBVLX – Undiscovered Managers Behavioral Value Fund Class L
holds 2,379K shares
representing 5.44% ownership of the company.
In it’s prior filing, the firm reported owning 2,209K shares, representing
an increase
of 7.18%.
The firm
increased
its portfolio allocation in GVA by 33.07% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares
holds 1,317K shares
representing 3.01% ownership of the company.
In it’s prior filing, the firm reported owning 1,363K shares, representing
a decrease
of 3.47%.
The firm
increased
its portfolio allocation in GVA by 23.28% over the last quarter.
FDVLX – Fidelity Value Fund
holds 1,272K shares
representing 2.91% ownership of the company.
In it’s prior filing, the firm reported owning 1,433K shares, representing
a decrease
of 12.63%.
The firm
increased
its portfolio allocation in GVA by 3.07% over the last quarter.
Granite Construction Background Information
(This description is provided by the company.)
Granite is America’s Infrastructure Company™. Incorporated since 1922, Granite (NYSE:GVA) is one of the largest diversified construction and construction materials companies in the United States as well as a full-suite provider in the transportation, water infrastructure and mineral exploration markets. Granite’s Code of Conduct and strong Core Values guide the Company and its employees to uphold the highest ethical standards. In addition to being one of the World’s Most Ethical Companies for eleven consecutive years, Granite is an industry leader in safety and an award-winning firm in quality and sustainability.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
