AlphaQuest LLC Raises Stock Position in Granite Construction Incorporated $GVA

Key Points

• AlphaQuest LLC increased its holdings in Granite Construction shares by 154.4% during the first quarter, owning 41,333 shares valued at approximately $3.1 million.
• Granite Construction recently announced a $0.13 quarterly dividend with a current yield of 0.5% and has set its FY 2025 earnings per share guidance at 5.49.
• Despite a recent quarterly earnings report exceeding expectations, Granite Construction shares have seen fluctuations, with a market capitalization of $4.79 billion and a current stock price of around $109.37.

AlphaQuest LLC lifted its position in Granite Construction Incorporated (NYSE:GVA - Free Report) by 154.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,333 shares of the construction company's stock after acquiring an additional 25,088 shares during the quarter. Granite Construction accounts for approximately 0.3% of AlphaQuest LLC's investment portfolio, making the stock its 16th largest holding. AlphaQuest LLC owned approximately 0.09% of Granite Construction worth $3,117,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Principal Financial Group Inc. raised its holdings in shares of Granite Construction by 1.8% in the first quarter. Principal Financial Group Inc. now owns 216,837 shares of the construction company's stock valued at $16,350,000 after acquiring an additional 3,737 shares in the last quarter. Golden State Wealth Management LLC raised its holdings in shares of Granite Construction by 16.6% in the first quarter. Golden State Wealth Management LLC now owns 5,101 shares of the construction company's stock valued at $385,000 after acquiring an additional 725 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Granite Construction in the fourth quarter valued at about $1,465,000. Blue Trust Inc. raised its holdings in shares of Granite Construction by 40.5% in the first quarter. Blue Trust Inc. now owns 781 shares of the construction company's stock valued at $59,000 after acquiring an additional 225 shares in the last quarter. Finally, GSA Capital Partners LLP raised its holdings in shares of Granite Construction by 112.9% in the first quarter. GSA Capital Partners LLP now owns 11,279 shares of the construction company's stock valued at $850,000 after acquiring an additional 5,981 shares in the last quarter.

Insider Activity

In other Granite Construction news, SVP Brian R. Dowd sold 2,025 shares of the firm's stock in a transaction dated Wednesday, May 28th. The stock was 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 owned 18,819 shares of the company's stock, valued at approximately $1,726,831.44. This trade represents a 9.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael G. Tatusko sold 2,000 shares of the firm's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $110.00, for a total value 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 represents a 6.40% decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

Granite Construction Stock Up 1.2%

GVA traded up $1.2850 on Friday, hitting $110.8750. The company had a trading volume of 417,454 shares, compared to its average volume of 690,849. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.45 and a current ratio of 1.57. The stock has a market capitalization of $4.86 billion, a price-to-earnings ratio of 36.23 and a beta of 1.39. The stock has a fifty day moving average price of $96.70 and a 200-day moving average price of $86.84. Granite Construction Incorporated has a 12-month low of $69.08 and a 12-month high of $112.16.

Granite Construction (NYSE:GVA - Get Free Report) last issued 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. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.16 billion. Granite Construction had a return on equity of 21.64% and a net margin of 3.89%.The company'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. Analysts predict that Granite Construction Incorporated will post 5.49 EPS for the current fiscal year.

Granite Construction Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Monday, June 30th. Granite Construction's dividend payout ratio (DPR) is currently 16.99%.

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.