Capital Fund Management S.A. Grows 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. raised its position in shares of Granite Construction Incorporated (NYSE:GVA - Free Report) by 328.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,547 shares of the construction company's stock after purchasing an additional 49,486 shares during the period. Capital Fund Management S.A. owned approximately 0.15% of Granite Construction worth $4,867,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Nuveen LLC bought a new position in shares of Granite Construction during the first quarter valued at about $21,966,000. Millennium Management LLC raised its holdings in Granite Construction by 11.0% in the fourth quarter. Millennium Management LLC now owns 2,651,676 shares of the construction company's stock worth $232,579,000 after purchasing an additional 263,302 shares in the last quarter. Voya Investment Management LLC raised its holdings in Granite Construction by 1,058.0% in the fourth quarter. Voya Investment Management LLC now owns 214,777 shares of the construction company's stock worth $18,838,000 after purchasing an additional 196,229 shares in the last quarter. GAMMA Investing LLC raised its holdings in Granite Construction by 7,509.2% in the first quarter. GAMMA Investing LLC now owns 165,729 shares of the construction company's stock worth $12,496,000 after purchasing an additional 163,551 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in Granite Construction by 128.2% in the fourth quarter. Nuveen Asset Management LLC now owns 279,504 shares of the construction company's stock worth $24,515,000 after purchasing an additional 157,047 shares in the last quarter.

Insider Activity at Granite Construction

In other Granite Construction news, SVP Michael G. Tatusko sold 2,000 shares of Granite Construction stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $110.00, for a total value of $220,000.00. Following the transaction, the senior vice president owned 29,241 shares in the company, valued at $3,216,510. The trade was 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 the SEC website. Insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

GVA has been the subject of a number of research reports. The Goldman Sachs Group increased 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 upgraded Granite Construction from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of "Sell" and an average target price of $76.00.

Granite Construction Trading Down 0.0%

GVA traded down $0.03 on Thursday, reaching $109.95. 60,235 shares of the company traded hands, compared to its average volume of 616,108. 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 company has a market cap of $4.81 billion, a P/E ratio of 35.93 and a beta of 1.39. The firm has a fifty day simple moving average of $97.96 and a two-hundred day simple moving average of $87.31. Granite Construction Incorporated has a one year low of $69.08 and a one year high of $112.16.

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

Granite Construction Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Monday, June 30th. Granite Construction's dividend payout ratio (DPR) 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.