3,174 Shares in Granite Construction Incorporated $GVA Bought by Ballentine Partners LLC

Key Points

• Ballentine Partners LLC acquired 3,174 shares of Granite Construction (NYSE:GVA), valued at approximately $297,000, during the second quarter.
• Granite Construction reported $1.93 earnings per share for the most recent quarter, exceeding analyst expectations of $1.77, and had a 4.4% increase in revenue compared to the same period last year.
• The company announced a quarterly dividend of $0.13 per share, with a payment date set for October 15th and an annualized yield of 0.5%.

Ballentine Partners LLC bought a new stake in shares of Granite Construction Incorporated (NYSE:GVA - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,174 shares of the construction company's stock, valued at approximately $297,000.

Several other large investors also recently made changes to their positions in the stock. Principal Financial Group Inc. raised its stake in shares of Granite Construction by 1.8% in the 1st quarter. Principal Financial Group Inc. now owns 216,837 shares of the construction company's stock valued at $16,350,000 after acquiring an additional 3,737 shares in the last quarter. Golden State Wealth Management LLC grew its holdings in Granite Construction by 16.6% during the first quarter. Golden State Wealth Management LLC now owns 5,101 shares of the construction company's stock valued at $385,000 after purchasing an additional 725 shares during the last quarter. Blue Trust Inc. raised its position in shares of Granite Construction by 40.5% in the first quarter. Blue Trust Inc. now owns 781 shares of the construction company's stock valued at $59,000 after purchasing an additional 225 shares during the period. GSA Capital Partners LLP lifted its stake in shares of Granite Construction by 112.9% in the first quarter. GSA Capital Partners LLP now owns 11,279 shares of the construction company's stock worth $850,000 after buying an additional 5,981 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its holdings in shares of Granite Construction by 16.6% during the 1st quarter. Asset Management One Co. Ltd. now owns 64,952 shares of the construction company's stock worth $4,897,000 after buying an additional 9,255 shares during the period.

Analysts Set New Price Targets

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

Granite Construction Stock Performance

NYSE:GVA opened at $108.96 on Monday. The firm's 50-day moving average is $104.97 and its 200-day moving average is $91.56. The company has a market cap of $4.77 billion, a price-to-earnings ratio of 35.61 and a beta of 1.40. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.45 and a current ratio of 1.57. 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 released its earnings results on Thursday, August 7th. The construction company reported $1.93 earnings per share for the quarter, topping analysts' consensus estimates of $1.77 by $0.16. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.16 billion. Granite Construction had a return on equity of 21.64% and a net margin of 3.89%.The firm's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period last year, the business earned $1.73 earnings per share. Granite Construction has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Granite Construction Incorporated will post 5.49 earnings per share for the current year.

Granite Construction Dividend Announcement

The company also recently announced 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. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Tuesday, September 30th. Granite Construction's dividend payout ratio is presently 16.99%.

Insider Buying and Selling

In other news, Director Louis E. Caldera sold 1,500 shares of the firm's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $110.16, for a total transaction of $165,240.00. Following the completion of the transaction, the director directly owned 10,601 shares of the company's stock, valued at approximately $1,167,806.16. This trade represents a 12.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Brian R. Dowd sold 2,025 shares of Granite Construction stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $110.16, for a total transaction of $223,074.00. Following the sale, the senior vice president owned 14,685 shares in the company, valued at approximately $1,617,699.60. This trade represents a 12.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,525 shares of company stock valued at $608,314 over the last ninety days. 1.00% of the stock is owned by company insiders.

Granite Construction 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.

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