Fuller & Thaler Asset Management Inc. Sells 16,565 Shares of Granite Construction Incorporated $GVA

Key Points

• Fuller & Thaler Asset Management Inc. reduced its stake in Granite Construction by 0.8%, holding 2,177,011 shares valued at $164 million after selling 16,565 shares in the first quarter.
• Several hedge funds have changed their stakes in Granite Construction, with First Trust Advisors LP increasing its holdings by 35.1% in the fourth quarter, acquiring an additional 294,200 shares.
• Granite Construction reported $1.93 earnings per share for the last quarter, exceeding analysts' estimates, and its stock has a current market cap of $4.79 billion.

Fuller & Thaler Asset Management Inc. lowered its stake in Granite Construction Incorporated (NYSE:GVA - Free Report) by 0.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,177,011 shares of the construction company's stock after selling 16,565 shares during the quarter. Fuller & Thaler Asset Management Inc. owned 4.98% of Granite Construction worth $164,147,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Mariner LLC raised its holdings in shares of Granite Construction by 1.0% during the fourth 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 in the last quarter. Quarry LP raised its holdings in shares of Granite Construction by 68.4% during the fourth quarter. Quarry LP now owns 325 shares of the construction company's stock valued at $29,000 after acquiring an additional 132 shares in the last quarter. CWM LLC raised its holdings in shares of Granite Construction by 26.5% during the first quarter. CWM LLC now owns 674 shares of the construction company's stock valued at $51,000 after acquiring an additional 141 shares in the last quarter. OneDigital Investment Advisors LLC raised its holdings in shares of Granite Construction by 3.4% during the fourth 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 in the last quarter. Finally, Summit Investment Advisors Inc. raised its holdings in shares of Granite Construction by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,607 shares of the construction company's stock valued at $404,000 after acquiring an additional 146 shares in the last quarter.

Insiders Place Their Bets

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 sale, the senior vice president directly owned 29,241 shares of the company's stock, valued at approximately $3,216,510. This represents a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Brian R. Dowd sold 2,025 shares of the stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $91.76, for a total value of $185,814.00. Following the sale, the senior vice president directly owned 18,819 shares in the company, valued at $1,726,831.44. This trade represents a 9.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company's stock.

Granite Construction Stock Up 1.2%

GVA traded up $1.2850 during trading on Friday, reaching $110.8750. The stock had a trading volume of 417,454 shares, compared to its average volume of 625,256. The stock's 50 day moving average is $96.26 and its two-hundred day moving average is $86.69. 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 company has a market capitalization of $4.86 billion, a price-to-earnings ratio of 36.23 and a beta of 1.39. 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 data on Thursday, August 7th. The construction company reported $1.93 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the company earned $1.73 earnings per share. The firm's quarterly revenue was up 4.4% compared to the same quarter last year. Granite Construction has set its FY 2025 guidance at EPS. As a group, 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. Stockholders of record on Monday, June 30th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis 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 currently 16.99%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GVA. Wall Street Zen upgraded Granite Construction from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. 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. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of "Sell" and a consensus price target 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.