Campbell & CO Investment Adviser LLC Grows Stock Position in Granite Construction Incorporated $GVA

Key Points

• Campbell & CO Investment Adviser LLC increased its stake in Granite Construction by 186.5% in the first quarter, acquiring an additional 17,545 shares to now hold 26,950 shares valued at approximately $2,032,000.
• Granite Construction recently reported an earnings per share (EPS) of $1.93, exceeding analysts' forecast of $1.77, alongside quarterly revenue of $1.13 billion.
• The company declared a quarterly dividend of $0.13 per share, translating to an annualized dividend yield of 0.5% and a payout ratio of 16.99%.

Campbell & CO Investment Adviser LLC lifted its stake in shares of Granite Construction Incorporated (NYSE:GVA - Free Report) by 186.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,950 shares of the construction company's stock after acquiring an additional 17,545 shares during the quarter. Campbell & CO Investment Adviser LLC owned approximately 0.06% of Granite Construction worth $2,032,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Mariner LLC grew its stake in shares of Granite Construction by 1.0% during the 4th quarter. Mariner LLC now owns 12,408 shares of the construction company's stock valued at $1,088,000 after acquiring an additional 119 shares during the period. Quarry LP grew its stake in shares of Granite Construction by 68.4% during the 4th quarter. Quarry LP now owns 325 shares of the construction company's stock valued at $29,000 after acquiring an additional 132 shares during the period. CWM LLC grew its stake in shares of Granite Construction by 26.5% during the 1st quarter. CWM LLC now owns 674 shares of the construction company's stock valued at $51,000 after acquiring an additional 141 shares during the period. OneDigital Investment Advisors LLC grew its stake in shares of Granite Construction by 3.4% during the 4th quarter. OneDigital Investment Advisors LLC now owns 4,299 shares of the construction company's stock valued at $377,000 after acquiring an additional 142 shares during the period. Finally, Xponance Inc. grew its stake in shares of Granite Construction by 5.1% during the 1st quarter. Xponance Inc. now owns 3,328 shares of the construction company's stock valued at $251,000 after acquiring an additional 160 shares during the period.

Insider Transactions at Granite Construction

In related news, SVP Michael G. Tatusko sold 2,000 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $110.00, for a total transaction of $220,000.00. Following the sale, the senior vice president owned 29,241 shares in the company, valued at approximately $3,216,510. This represents a 6.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Louis E. Caldera sold 1,500 shares of the stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $110.16, for a total value of $165,240.00. Following the sale, the director owned 10,601 shares in the company, valued at $1,167,806.16. The trade was a 12.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,525 shares of company stock valued at $608,314 in the last ninety days. Corporate insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

GVA has been the subject of several recent analyst reports. The Goldman Sachs Group upped their price target on Granite Construction from $69.00 to $76.00 and gave the stock a "sell" rating in a research note on Monday, May 5th. Wall Street Zen upgraded Granite Construction from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Granite Construction has an average rating of "Sell" and a consensus target price of $76.00.

Granite Construction Price Performance

Shares of GVA traded down $1.91 during mid-day trading on Friday, hitting $108.01. 497,931 shares of the stock were exchanged, compared to its average volume of 678,605. The company has a market cap of $4.73 billion, a PE ratio of 35.30 and a beta of 1.39. Granite Construction Incorporated has a 52-week low of $69.08 and a 52-week high of $112.16. The firm has a 50-day moving average of $98.76 and a two-hundred day moving average of $87.59. 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 (NYSE:GVA - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The construction company reported $1.93 earnings per share (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 analysts' expectations of $1.16 billion. Granite Construction had a return on equity of 21.64% and a net margin of 3.89%.The company's revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.73 EPS. Granite Construction has set its FY 2025 guidance at EPS. On average, equities analysts predict that Granite Construction Incorporated will post 5.49 earnings per share for the current year.

Granite Construction Dividend Announcement

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

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.