Capital Fund Management S.A. Has $4.87 Million Stock Holdings in Granite Construction Incorporated $GVA

Key Points

• Capital Fund Management S.A. significantly increased its ownership in Granite Construction, purchasing an additional 49,486 shares to boost its stake by 328.6% in the first quarter, valuing the total ownership at approximately $4.87 million.
• Granite Construction recently reported quarterly earnings of $1.93 EPS, exceeding analyst expectations, while also setting a FY 2025 EPS guidance.
• The company declared a quarterly dividend of $0.13 per share, reflecting an annualized dividend of $0.52 and a dividend yield of 0.5% with a payout ratio of 16.99%.

Capital Fund Management S.A. increased its stake in shares of Granite Construction Incorporated (NYSE:GVA - Free Report) by 328.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,547 shares of the construction company's stock after purchasing an additional 49,486 shares during the quarter. Capital Fund Management S.A. owned 0.15% of Granite Construction worth $4,867,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Principal Financial Group Inc. boosted its position in shares of Granite Construction by 1.8% during the 1st quarter. Principal Financial Group Inc. now owns 216,837 shares of the construction company's stock worth $16,350,000 after acquiring an additional 3,737 shares in the last quarter. Golden State Wealth Management LLC lifted its position in Granite Construction by 16.6% during the 1st quarter. Golden State Wealth Management LLC now owns 5,101 shares of the construction company's stock worth $385,000 after acquiring an additional 725 shares during the period. Point72 Asset Management L.P. acquired a new stake in Granite Construction during the 4th quarter worth approximately $1,465,000. Blue Trust Inc. lifted its position in Granite Construction by 40.5% during the 1st quarter. Blue Trust Inc. now owns 781 shares of the construction company's stock worth $59,000 after acquiring an additional 225 shares during the period. Finally, GSA Capital Partners LLP raised its stake in shares of Granite Construction by 112.9% during the 1st 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 in the last quarter.

Insider Activity

In other 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 value of $220,000.00. Following the completion of the sale, the senior vice president owned 29,241 shares in the company, valued at $3,216,510. This represents a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is owned by insiders.

Granite Construction Stock Down 0.3%

Granite Construction stock traded down $0.33 during midday trading on Wednesday, hitting $110.17. The stock had a trading volume of 143,255 shares, compared to its average volume of 618,174. The company has a current ratio of 1.57, a quick ratio of 1.45 and a debt-to-equity ratio of 0.66. The stock has a market cap of $4.82 billion, a P/E ratio of 36.01 and a beta of 1.39. Granite Construction Incorporated has a 12 month low of $69.08 and a 12 month high of $112.16. The business has a fifty day moving average price of $97.54 and a 200 day moving average price of $87.15.

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

Granite Construction Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group increased their target price 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 report on Saturday, August 9th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Granite Construction has a consensus rating of "Sell" and a consensus target price of $76.00.

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.