Fuller & Thaler Asset Management Inc. Trims Position in 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. lessened its position in Granite Construction Incorporated (NYSE:GVA - Free Report) by 0.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,177,011 shares of the construction company's stock after selling 16,565 shares during the period. Fuller & Thaler Asset Management Inc. owned about 4.98% of Granite Construction worth $164,147,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GVA. Envestnet Asset Management Inc. lifted its stake in shares of Granite Construction by 36.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 11,952 shares of the construction company's stock worth $1,048,000 after buying an additional 3,190 shares in the last quarter. Federated Hermes Inc. bought a new position in Granite Construction during the fourth quarter valued at approximately $26,000. Sterling Capital Management LLC lifted its position in Granite Construction by 6,861.5% during the fourth quarter. Sterling Capital Management LLC now owns 4,525 shares of the construction company's stock valued at $397,000 after purchasing an additional 4,460 shares during the period. Summit Investment Advisors Inc. lifted its position in 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 purchasing an additional 146 shares during the period. Finally, Mariner LLC lifted its position in 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 purchasing an additional 119 shares during the period.

Granite Construction Stock Performance

GVA traded up $1.2850 during trading on Friday, hitting $110.8750. The company's stock had a trading volume of 417,454 shares, compared to its average volume of 712,614. The company has a quick ratio of 1.45, a current ratio of 1.57 and a debt-to-equity ratio of 0.66. Granite Construction Incorporated has a one year low of $69.08 and a one year high of $112.16. The firm has a market cap of $4.86 billion, a PE ratio of 36.23 and a beta of 1.39. The business's 50 day simple moving average is $96.70 and its 200-day simple moving average is $86.86.

Granite Construction (NYSE:GVA - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The construction company reported $1.93 earnings per share for the quarter, topping 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 business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the firm earned $1.73 earnings per share. The company's quarterly revenue was up 4.4% on a year-over-year basis. Granite Construction has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Granite Construction Incorporated will post 5.49 EPS for the current fiscal year.

Granite Construction Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a $0.13 dividend. 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 (DPR) is presently 16.99%.

Wall Street Analyst Weigh In

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

Insider Activity at Granite Construction

In other news, 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 completion of the sale, the senior vice president directly owned 18,819 shares of the company's stock, valued at $1,726,831.44. This represents a 9.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction of $220,000.00. Following the completion of the sale, the senior vice president directly owned 29,241 shares of the company's stock, valued at approximately $3,216,510. This trade represents a 6.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

About Granite Construction

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.