AlphaQuest LLC Has $3.12 Million Holdings 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 stake in shares of Granite Construction Incorporated (NYSE:GVA - Free Report) by 154.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,333 shares of the construction company's stock after purchasing an additional 25,088 shares during the quarter. Granite Construction comprises 0.3% of AlphaQuest LLC's investment portfolio, making the stock its 16th biggest holding. AlphaQuest LLC owned about 0.09% of Granite Construction worth $3,117,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC grew its position in shares of Granite Construction by 214.2% during the 1st quarter. Larson Financial Group LLC now owns 377 shares of the construction company's stock valued at $28,000 after purchasing an additional 257 shares in the last quarter. Quarry LP lifted its position in 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 purchasing an additional 132 shares during the period. Rothschild Investment LLC raised 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 acquiring an additional 285 shares during the period. CWM LLC increased its stake in shares of 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 purchasing an additional 141 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in Granite Construction by 40.5% during 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.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on GVA shares. The Goldman Sachs Group raised their target price on shares of Granite Construction from $69.00 to $76.00 and gave the stock a "sell" rating in a report on Monday, May 5th. Wall Street Zen raised shares of Granite Construction from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of "Sell" and an average price target of $76.00.

Insider Transactions at Granite Construction

In other Granite Construction news, SVP Michael G. Tatusko sold 2,000 shares of the stock in a transaction that occurred 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 completion of the sale, the senior vice president owned 29,241 shares of the company's stock, valued at $3,216,510. This trade represents a 6.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is owned by company insiders.

Granite Construction Trading Down 0.3%

NYSE GVA traded down $0.32 during trading hours on Wednesday, reaching $110.18. The company had a trading volume of 90,995 shares, compared to its average volume of 617,896. The stock has a market capitalization of $4.82 billion, a P/E ratio of 35.96 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 has a 50-day moving average of $97.54 and a 200 day moving average of $87.15.

Granite Construction (NYSE:GVA - Get Free Report) last issued its earnings results on Thursday, August 7th. The construction company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.16. The firm had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $1.16 billion. Granite Construction had a net margin of 3.89% and a return on equity of 21.64%. The firm's revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.73 earnings per share. Granite Construction has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Granite Construction Incorporated will post 5.49 earnings per share for the current fiscal year.

Granite Construction Announces Dividend

The firm also recently declared 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 (DPR) is presently 16.99%.

Granite Construction 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.