Granite Construction Incorporated $GVA Shares Sold by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. reduced its holdings in Granite Construction by 5.6%, now owning approximately 631,076 shares valued at about $47.58 million.
• Several hedge funds increased their stakes in Granite Construction, with Quarry LP growing its holdings by 68.4% in the fourth quarter.
• Granite Construction recently reported an earnings per share of $1.93 for the last quarter, exceeding analysts' expectations of $1.77.

Charles Schwab Investment Management Inc. reduced its position in Granite Construction Incorporated (NYSE:GVA - Free Report) by 5.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 631,076 shares of the construction company's stock after selling 37,549 shares during the period. Charles Schwab Investment Management Inc. owned 1.44% of Granite Construction worth $47,583,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Federated Hermes Inc. purchased a new stake in Granite Construction during the 4th quarter valued at approximately $26,000. Larson Financial Group LLC raised its stake in Granite Construction by 214.2% during the 1st quarter. Larson Financial Group LLC now owns 377 shares of the construction company's stock valued at $28,000 after acquiring an additional 257 shares during the last quarter. Quarry LP raised its stake in 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 last quarter. Rothschild Investment LLC raised its stake in Granite Construction by 80.3% during the 1st quarter. Rothschild Investment LLC now owns 640 shares of the construction company's stock valued at $48,000 after acquiring an additional 285 shares during the last quarter. Finally, CWM LLC raised its stake in 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 last quarter.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Wall Street Zen raised Granite Construction from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. The Goldman Sachs Group upped their price objective on Granite Construction from $69.00 to $76.00 and gave the company a "sell" rating in a research note on Monday, May 5th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Granite Construction presently has an average rating of "Sell" and an average price target of $76.00.

Granite Construction Stock Performance

NYSE GVA traded down $0.1780 on Thursday, hitting $109.3720. 321,354 shares of the company's stock were exchanged, compared to its average volume of 713,394. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.57 and a quick ratio of 1.45. The firm's 50-day moving average price is $96.26 and its two-hundred day moving average price is $86.69. Granite Construction Incorporated has a fifty-two week low of $69.08 and a fifty-two week high of $111.43. The firm has a market cap of $4.79 billion, a price-to-earnings ratio of 35.74 and a beta of 1.39.

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 (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.16. Granite Construction had a return on equity of 21.64% and a net margin of 3.89%.The company had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $1.16 billion. During the same quarter in the previous year, the firm posted $1.73 EPS. The firm's quarterly revenue was up 4.4% on a year-over-year basis. Granite Construction has set its FY 2025 guidance at EPS. On average, research analysts expect that Granite Construction Incorporated will post 5.49 EPS for the current year.

Granite Construction Dividend Announcement

The firm 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. The ex-dividend date was Monday, June 30th. This represents a $0.52 annualized dividend and a yield of 0.5%. Granite Construction's payout ratio is presently 16.99%.

Insider Buying and Selling

In related news, SVP Michael G. Tatusko sold 2,000 shares of the company's stock in a transaction that occurred 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 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Brian R. Dowd sold 2,025 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $91.76, for a total value of $185,814.00. Following the completion of the sale, the senior vice president owned 18,819 shares in the company, valued at approximately $1,726,831.44. This represents a 9.72% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company's stock.

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.