Caxton Associates LLP Invests $1.33 Million in Granite Construction Incorporated $GVA

Key Points

• Caxton Associates LLP acquired 17,602 shares of Granite Construction Inc. (NYSE:GVA), valued at approximately $1.33 million, during the 1st quarter.
• The company reported a quarterly EPS of $1.93, surpassing estimates, with revenue of $1.13 billion for the quarter.
• Wall Street Zen upgraded Granite Construction's rating from "hold" to "buy," amid mixed analyst assessments with a consensus rating of "sell."

Caxton Associates LLP purchased a new stake in Granite Construction Incorporated (NYSE:GVA - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 17,602 shares of the construction company's stock, valued at approximately $1,327,000.

A number of other hedge funds and other institutional investors have also modified their holdings of GVA. Brevan Howard Capital Management LP acquired a new stake in Granite Construction during the 4th quarter worth about $220,000. EP Wealth Advisors LLC acquired a new stake in Granite Construction during the 4th quarter worth about $236,000. Deutsche Bank AG boosted its position in Granite Construction by 49.2% during the 4th quarter. Deutsche Bank AG now owns 39,344 shares of the construction company's stock worth $3,451,000 after acquiring an additional 12,976 shares during the period. Ethic Inc. boosted its position in Granite Construction by 37.2% during the 4th quarter. Ethic Inc. now owns 6,211 shares of the construction company's stock worth $545,000 after acquiring an additional 1,685 shares during the period. Finally, Focus Partners Wealth acquired a new stake in Granite Construction during the 4th quarter worth about $214,000.

Granite Construction Stock Performance

NYSE GVA traded up $1.99 during trading on Monday, hitting $109.44. The company's stock had a trading volume of 113,019 shares, compared to its average volume of 605,819. The company has a quick ratio of 1.45, a current ratio of 1.57 and a debt-to-equity ratio of 0.66. The firm has a 50 day moving average price of $101.80 and a 200 day moving average price of $89.25. The firm has a market cap of $4.79 billion, a P/E ratio of 35.71 and a beta of 1.40. Granite Construction Incorporated has a 52 week low of $69.08 and a 52 week high of $112.16.

Granite Construction (NYSE:GVA - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The construction company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.77 by $0.16. Granite Construction had a return on equity of 21.64% and a net margin of 3.89%.The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the business posted $1.73 EPS. The company's revenue for the quarter was up 4.4% on a year-over-year basis. Granite Construction has set its FY 2025 guidance at EPS. Equities research analysts forecast that Granite Construction Incorporated will post 5.49 earnings per share for the current fiscal year.

Granite Construction Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.52 annualized dividend and a yield of 0.5%. Granite Construction's payout ratio is currently 16.99%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Granite Construction from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Sell" and a consensus target price of $76.00.

Insider Activity at Granite Construction

In related news, SVP Brian R. Dowd sold 2,025 shares of the business's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $110.16, for a total value of $223,074.00. Following the sale, the senior vice president owned 14,685 shares of the company's stock, valued at $1,617,699.60. The trade was a 12.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael G. Tatusko sold 2,000 shares of the business's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $110.00, for a total value of $220,000.00. Following the completion of the transaction, the senior vice president directly owned 29,241 shares in the company, valued at approximately $3,216,510. This represents a 6.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,525 shares of company stock valued at $608,314 in the last 90 days. 1.00% of the stock is owned by corporate insiders.

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.