Hill City Capital LP Boosts Position in Granite Construction Incorporated $GVA

Key Points

• Hill City Capital LP has increased its investment in Granite Construction Incorporated (NYSE:GVA) by 1.1%, making it the firm's 7th largest position, comprising about 6.0% of their portfolio.
• Several institutional investors, including Envestnet Asset Management and Hsbc Holdings PLC, have recently boosted their stakes in Granite Construction, indicating growing institutional interest.
• Granite Construction reported earnings of $1.93 per share for its latest quarter, exceeding analyst estimates and showing a revenue growth of 4.4% year-over-year, despite a dip compared to consensus revenue estimates.

Hill City Capital LP grew its holdings in shares of Granite Construction Incorporated (NYSE:GVA - Free Report) by 1.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,060,048 shares of the construction company's stock after acquiring an additional 11,110 shares during the quarter. Granite Construction accounts for approximately 6.0% of Hill City Capital LP's investment portfolio, making the stock its 7th largest position. Hill City Capital LP owned 2.42% of Granite Construction worth $79,928,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. RPg Family Wealth Advisory LLC raised its stake in Granite Construction by 3.4% during the first quarter. RPg Family Wealth Advisory LLC now owns 56,634 shares of the construction company's stock worth $4,278,000 after acquiring an additional 1,845 shares in the last quarter. Campbell & CO Investment Adviser LLC raised its stake in Granite Construction by 186.5% during the first quarter. Campbell & CO Investment Adviser LLC now owns 26,950 shares of the construction company's stock worth $2,032,000 after acquiring an additional 17,545 shares in the last quarter. Jump Financial LLC raised its stake in Granite Construction by 3,463.8% during the first quarter. Jump Financial LLC now owns 88,025 shares of the construction company's stock worth $6,637,000 after acquiring an additional 85,555 shares in the last quarter. AlphaQuest LLC raised its stake in Granite Construction by 154.4% during the first quarter. AlphaQuest LLC now owns 41,333 shares of the construction company's stock worth $3,117,000 after acquiring an additional 25,088 shares in the last quarter. Finally, RPG Investment Advisory LLC raised its stake in Granite Construction by 106.6% during the first quarter. RPG Investment Advisory LLC now owns 472,566 shares of the construction company's stock worth $35,632,000 after acquiring an additional 243,875 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. 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 note on Monday, May 5th. Wall Street Zen raised 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, the company presently has a consensus rating of "Sell" and an average target price of $76.00.

Insider Activity at Granite Construction

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 directly owned 29,241 shares in the company, valued at $3,216,510. This represents a 6.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Louis E. Caldera sold 1,500 shares of the company's stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $110.16, for a total value of $165,240.00. Following the completion of the sale, the director owned 10,601 shares in the company, valued at $1,167,806.16. The trade was a 12.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,525 shares of company stock worth $608,314 over the last ninety days. Insiders own 1.00% of the company's stock.

Granite Construction Trading Down 1.7%

Shares of Granite Construction stock traded down $1.91 on Friday, hitting $108.01. The stock had a trading volume of 497,931 shares, compared to its average volume of 678,605. The stock has a 50 day moving average of $98.76 and a 200 day moving average of $87.59. Granite Construction Incorporated has a twelve month low of $69.08 and a twelve month high of $112.16. The firm has a market capitalization of $4.73 billion, a P/E ratio of 35.30 and a beta of 1.39. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.45 and a current ratio of 1.57.

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

Granite Construction Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued 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 is presently 16.99%.

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.