Granite Construction Incorporated $GVA Stake Lifted by Boston Partners

Key Points

• Boston Partners has increased its stake in Granite Construction by 0.5%, acquiring an additional 2,811 shares, bringing its total ownership to approximately 1.34% valued at $44.4 million.
• Granite Construction recently received an upgrade from a "hold" to a "buy" rating by Wall Street Zen, indicating positive analyst sentiment.
• The company reported quarterly earnings of $1.93 per share, exceeding analyst expectations, with revenue of $1.13 billion, up 4.4% year-over-year despite a slight miss on revenue estimates.

Boston Partners raised its stake in shares of Granite Construction Incorporated (NYSE:GVA - Free Report) by 0.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 587,209 shares of the construction company's stock after buying an additional 2,811 shares during the quarter. Boston Partners owned about 1.34% of Granite Construction worth $44,392,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its holdings in Granite Construction by 36.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 11,952 shares of the construction company's stock valued at $1,048,000 after acquiring an additional 3,190 shares during the period. Russell Investments Group Ltd. grew its holdings in Granite Construction by 11.4% during the 4th quarter. Russell Investments Group Ltd. now owns 22,312 shares of the construction company's stock valued at $1,957,000 after buying an additional 2,276 shares in the last quarter. Federated Hermes Inc. purchased a new position in Granite Construction during the 4th quarter valued at approximately $26,000. Sterling Capital Management LLC lifted its stake in shares of Granite Construction by 6,861.5% in the 4th quarter. Sterling Capital Management LLC now owns 4,525 shares of the construction company's stock valued at $397,000 after purchasing an additional 4,460 shares during the last quarter. Finally, Summit Investment Advisors Inc. lifted its stake in shares of Granite Construction by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,607 shares of the construction company's stock worth $404,000 after acquiring an additional 146 shares during the last quarter.

Granite Construction Stock Performance

GVA stock traded down $0.0420 during trading on Wednesday, hitting $109.4080. The company had a trading volume of 477,064 shares, compared to its average volume of 705,956. The firm has a market cap of $4.79 billion, a PE ratio of 35.75 and a beta of 1.39. Granite Construction Incorporated has a 1-year low of $69.08 and a 1-year high of $111.43. The firm has a 50-day moving average price of $95.86 and a 200-day moving average price of $86.54. The company has a quick ratio of 1.45, a current ratio of 1.57 and a debt-to-equity ratio of 0.66.

Granite Construction (NYSE:GVA - Get Free Report) last announced 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. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.16 billion. Granite Construction had a return on equity of 21.64% and a net margin of 3.89%.The company's quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.73 EPS. Granite Construction has set its FY 2025 guidance at EPS. On average, analysts expect that Granite Construction Incorporated will post 5.49 earnings per share for the current year.

Granite Construction Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a dividend of $0.13 per share. The ex-dividend date was Monday, June 30th. This represents a $0.52 annualized dividend and a yield of 0.5%. Granite Construction's dividend payout ratio is 16.99%.

Wall Street Analyst Weigh In

Several research analysts have commented on GVA shares. The Goldman Sachs Group raised their price objective on Granite Construction from $69.00 to $76.00 and gave the stock a "sell" rating in a report on Monday, May 5th. Wall Street Zen raised 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 MarketBeat, the company currently has a consensus rating of "Sell" and a consensus target price of $76.00.

Insider Activity at Granite Construction

In other Granite Construction news, SVP Brian R. Dowd sold 2,025 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $91.76, for a total value of $185,814.00. Following the sale, the senior vice president owned 18,819 shares in the company, valued at approximately $1,726,831.44. This trade represents a 9.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.00% of the company's stock.

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.