Fiduciary Financial Group LLC Decreases Holdings in Granite Construction Incorporated $GVA

Key Points

• Fiduciary Financial Group LLC reduced its stake in Granite Construction by 46.3%, now owning 3,355 shares valued at approximately $311,000.
• Granite Construction's stock was upgraded from a "hold" to a "buy" rating, yet it still has a consensus rating of "Sell" with a price target of $76.00.
• The company announced a quarterly dividend of $0.13 per share, with a payout ratio of 16.99%, reflecting its ongoing commitment to returning value to shareholders.

Fiduciary Financial Group LLC trimmed its holdings in shares of Granite Construction Incorporated (NYSE:GVA - Free Report) by 46.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,355 shares of the construction company's stock after selling 2,890 shares during the quarter. Fiduciary Financial Group LLC's holdings in Granite Construction were worth $311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Hill City Capital LP grew its stake in Granite Construction by 1.1% during the 1st quarter. Hill City Capital LP now owns 1,060,048 shares of the construction company's stock worth $79,928,000 after buying an additional 11,110 shares during the last quarter. Invesco Ltd. lifted its position in Granite Construction by 12.4% during the 1st quarter. Invesco Ltd. now owns 652,759 shares of the construction company's stock worth $49,218,000 after acquiring an additional 72,175 shares during the period. Mizuho Markets Americas LLC lifted its position in Granite Construction by 22.7% during the 1st quarter. Mizuho Markets Americas LLC now owns 607,269 shares of the construction company's stock worth $45,788,000 after acquiring an additional 112,371 shares during the period. Boston Partners lifted its position in Granite Construction by 0.5% during the 1st quarter. Boston Partners now owns 587,209 shares of the construction company's stock worth $44,392,000 after acquiring an additional 2,811 shares during the period. Finally, RPG Investment Advisory LLC lifted its position in Granite Construction by 106.6% during the 1st 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 during the period.

Granite Construction Price Performance

Shares of NYSE:GVA traded down $0.68 during trading on Friday, hitting $108.93. 131,822 shares of the stock were exchanged, compared to its average volume of 605,677. The company has a fifty day moving average price of $103.01 and a two-hundred day moving average price of $89.89. The company has a market cap of $4.77 billion, a PE ratio of 35.57 and a beta of 1.41. The company has a current ratio of 1.57, a quick ratio of 1.45 and a debt-to-equity ratio of 0.66. 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 announced its quarterly earnings results on Thursday, August 7th. The construction company reported $1.93 EPS for the quarter, topping 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 analyst estimates of $1.16 billion. During the same quarter in the previous year, the company earned $1.73 EPS. The company's quarterly revenue was up 4.4% on a year-over-year basis. Granite Construction has set its FY 2025 guidance at EPS. On average, analysts forecast that Granite Construction Incorporated will post 5.49 EPS for the current year.

Granite Construction Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a $0.13 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $0.52 annualized dividend and a yield of 0.5%. Granite Construction's payout ratio is 16.99%.

Insider Transactions at Granite Construction

In other news, SVP Brian R. Dowd sold 2,025 shares of the company's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $110.16, for a total transaction of $223,074.00. Following the completion of the sale, the senior vice president directly owned 14,685 shares in the company, valued at $1,617,699.60. This represents a 12.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Michael G. Tatusko sold 2,000 shares of the company's stock in a transaction 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 owned 29,241 shares of the company's stock, valued at approximately $3,216,510. The trade was a 6.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,525 shares of company stock worth $608,314 in the last ninety days. Insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

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.com, the company currently has a consensus rating of "Sell" and an average 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.