Granite Construction Incorporated $GVA Shares Bought by Graham Capital Management L.P.

Key Points

• Graham Capital Management L.P. increased its stake in Granite Construction by 43.6% in Q1, holding a total of 14,678 shares worth approximately $1.1 million.
• Granite Construction reported an EPS of $1.93, exceeding expectations, but its revenue of $1.13 billion fell short of consensus estimates of $1.16 billion.
• Wall Street analysts have upgraded Granite Construction's rating from "hold" to "buy", although the company still holds a consensus rating of "Sell" and a price target of $76.

Graham Capital Management L.P. boosted its stake in Granite Construction Incorporated (NYSE:GVA - Free Report) by 43.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,678 shares of the construction company's stock after buying an additional 4,457 shares during the period. Graham Capital Management L.P.'s holdings in Granite Construction were worth $1,107,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of GVA. Larson Financial Group LLC grew its position in shares of Granite Construction by 214.2% in the 1st quarter. Larson Financial Group LLC now owns 377 shares of the construction company's stock worth $28,000 after acquiring an additional 257 shares in the last quarter. Rothschild Investment LLC grew its stake in Granite Construction by 80.3% in the first quarter. Rothschild Investment LLC now owns 640 shares of the construction company's stock valued at $48,000 after acquiring an additional 285 shares during the period. CWM LLC raised its stake in Granite Construction by 26.5% in the first quarter. CWM LLC now owns 674 shares of the construction company's stock valued at $51,000 after buying an additional 141 shares during the period. Blue Trust Inc. raised its holdings in Granite Construction by 40.5% in the 1st 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, Versant Capital Management Inc grew its position in Granite Construction by 53.0% during the 1st quarter. Versant Capital Management Inc now owns 855 shares of the construction company's stock worth $64,000 after acquiring an additional 296 shares during the last quarter.

Insider Activity at Granite Construction

In other news, SVP Brian R. Dowd sold 2,025 shares of the firm's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $110.16, for a total transaction of $223,074.00. Following the sale, the senior vice president owned 14,685 shares of the company's stock, valued at $1,617,699.60. This trade represents a 12.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Louis E. Caldera sold 1,500 shares of Granite Construction stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $110.16, for a total transaction of $165,240.00. Following the sale, the director owned 10,601 shares in the company, valued at approximately $1,167,806.16. The trade was a 12.40% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,525 shares of company stock valued at $608,314. Corporate insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised Granite Construction from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of "Sell" and an average price target of $76.00.

Granite Construction Stock Performance

GVA traded up $0.28 on Monday, reaching $108.38. The company had a trading volume of 292,226 shares, compared to its average volume of 613,400. The company's fifty day moving average is $100.33 and its 200 day moving average is $88.33. Granite Construction Incorporated has a fifty-two week low of $69.08 and a fifty-two week high of $112.16. The stock has a market cap of $4.75 billion, a P/E ratio of 35.43 and a beta of 1.40. 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 issued its quarterly earnings results on Thursday, August 7th. The construction company reported $1.93 earnings per share for the quarter, topping analysts' consensus estimates of $1.77 by $0.16. Granite Construction had a net margin of 3.89% and a return on equity of 21.64%. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the firm posted $1.73 EPS. The firm'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, analysts predict that Granite Construction Incorporated will post 5.49 earnings per share for the current fiscal year.

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.