Deutsche Bank AG Sells 3,535 Shares of Granite Construction Incorporated $GVA

Key Points

• Deutsche Bank AG has reduced its stake in Granite Construction Incorporated by 9.0% in the first quarter, holding approximately 35,809 shares worth $2.70 million as of the end of that period.
• Granite Construction's latest earnings report revealed an earnings per share (EPS) of $1.93, surpassing analysts' estimates of $1.77, although revenue was below expectations at $1.13 billion.
• The company recently announced a quarterly dividend of $0.13 per share, translating to an annual yield of 0.5% and a payout ratio of approximately 17%.

Deutsche Bank AG lessened its holdings in shares of Granite Construction Incorporated (NYSE:GVA - Free Report) by 9.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,809 shares of the construction company's stock after selling 3,535 shares during the period. Deutsche Bank AG owned 0.08% of Granite Construction worth $2,700,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of GVA. Millennium Management LLC boosted its holdings in shares of Granite Construction by 11.0% during the 4th quarter. Millennium Management LLC now owns 2,651,676 shares of the construction company's stock valued at $232,579,000 after buying an additional 263,302 shares in the last quarter. Voya Investment Management LLC boosted its stake in Granite Construction by 1,058.0% in the 4th 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 boosted its stake in Granite Construction by 7,509.2% in the 1st 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. Nuveen Asset Management LLC boosted its stake in Granite Construction by 128.2% in the 4th 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. Finally, Algert Global LLC boosted its stake in Granite Construction by 443.2% in the 4th quarter. Algert Global LLC now owns 159,117 shares of the construction company's stock worth $13,956,000 after purchasing an additional 129,825 shares in the last quarter.

Insider Activity at Granite Construction

In other news, SVP Michael G. Tatusko sold 2,000 shares of the stock in a transaction that occurred on Thursday, August 21st. The shares were 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. This represents a 6.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Brian R. Dowd sold 2,025 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $91.76, for a total transaction of $185,814.00. Following the completion of the transaction, the senior vice president owned 18,819 shares in the company, valued at $1,726,831.44. This trade represents a 9.72% decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Granite Construction Stock Performance

GVA traded down $1.3770 during midday trading on Monday, hitting $109.6730. 259,819 shares of the company traded hands, compared to its average volume of 690,849. 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 firm has a market capitalization of $4.80 billion, a PE ratio of 35.84 and a beta of 1.39. The company's 50-day moving average is $97.11 and its 200 day moving average is $86.99. Granite Construction Incorporated has a 52 week low of $69.08 and a 52 week high of $112.16.

Granite Construction (NYSE:GVA - Get Free Report) last posted its earnings results on Thursday, August 7th. The construction company reported $1.93 earnings per share (EPS) for the quarter, beating 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 net margin of 3.89% and a return on equity of 21.64%. The business's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.73 EPS. 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 business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders 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 currently 16.99%.

Analyst Upgrades and Downgrades

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

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.