Hill City Capital LP Has $79.93 Million Holdings 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 boosted its position in Granite Construction Incorporated (NYSE:GVA - Free Report) by 1.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,060,048 shares of the construction company's stock after buying an additional 11,110 shares during the quarter. Granite Construction makes up about 6.0% of Hill City Capital LP's holdings, making the stock its 7th largest position. Hill City Capital LP owned about 2.42% of Granite Construction worth $79,928,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Quarry LP increased its position in Granite Construction by 68.4% in the fourth quarter. Quarry LP now owns 325 shares of the construction company's stock worth $29,000 after buying an additional 132 shares during the last quarter. Larson Financial Group LLC increased its position in Granite Construction by 214.2% in the first quarter. Larson Financial Group LLC now owns 377 shares of the construction company's stock worth $28,000 after buying an additional 257 shares during the last quarter. Rothschild Investment LLC increased its position in Granite Construction by 80.3% in the first quarter. Rothschild Investment LLC now owns 640 shares of the construction company's stock worth $48,000 after buying an additional 285 shares during the last quarter. CWM LLC increased its position in Granite Construction by 26.5% in the first quarter. CWM LLC now owns 674 shares of the construction company's stock worth $51,000 after buying an additional 141 shares during the last quarter. Finally, Blue Trust Inc. increased its position in Granite Construction by 40.5% in the first quarter. Blue Trust Inc. now owns 781 shares of the construction company's stock worth $59,000 after buying an additional 225 shares during the last quarter.

Granite Construction Stock Performance

Shares of NYSE GVA traded down $1.91 during mid-day trading on Friday, hitting $108.01. The company had a trading volume of 497,931 shares, compared to its average volume of 678,605. The company has a market capitalization of $4.73 billion, a price-to-earnings ratio of 35.30 and a beta of 1.39. Granite Construction Incorporated has a 1 year low of $69.08 and a 1 year high of $112.16. 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 stock's 50-day moving average price is $98.76 and its 200-day moving average price is $87.59.

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, beating the consensus estimate of $1.77 by $0.16. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.16 billion. Granite Construction had a return on equity of 21.64% and a net margin of 3.89%.The firm's quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the company earned $1.73 earnings per share. Granite Construction has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Granite Construction Incorporated will post 5.49 earnings per share for the current year.

Granite Construction Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend 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 currently 16.99%.

Insider Activity at Granite Construction

In related news, Director Louis E. Caldera sold 1,500 shares of Granite Construction stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $110.16, for a total transaction of $165,240.00. Following the completion of the sale, the director owned 10,601 shares of the company's stock, valued at approximately $1,167,806.16. This trade represents a 12.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael G. Tatusko sold 2,000 shares of Granite Construction stock in a transaction 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 sale, the senior vice president directly owned 29,241 shares of the company's stock, valued at $3,216,510. This represents a 6.40% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,525 shares of company stock valued at $608,314. Company insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. The Goldman Sachs Group raised 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. Wall Street Zen upgraded 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, the company presently 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.