Jump Financial LLC Grows Position in Granite Construction Incorporated $GVA

Key Points

• Jump Financial LLC significantly increased its stake in Granite Construction by 3,463.8%, owning 88,025 shares valued at approximately $6.64 million after acquisitions in the first quarter.
• Granite Construction reported $1.93 EPS for the last quarter, surpassing analyst expectations, while revenues reached $1.13 billion, a 4.4% increase year-over-year.
• The company recently declared a quarterly dividend of $0.13 per share, translating to an annualized yield of 0.5% and a payout ratio of 16.99%.

Jump Financial LLC lifted its holdings in Granite Construction Incorporated (NYSE:GVA - Free Report) by 3,463.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,025 shares of the construction company's stock after buying an additional 85,555 shares during the quarter. Jump Financial LLC owned approximately 0.20% of Granite Construction worth $6,637,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Nuveen LLC purchased a new stake in Granite Construction during the 1st quarter valued at about $21,966,000. Millennium Management LLC grew its position in Granite Construction by 11.0% during the 4th quarter. Millennium Management LLC now owns 2,651,676 shares of the construction company's stock valued at $232,579,000 after purchasing an additional 263,302 shares during the last quarter. RPG Investment Advisory LLC grew 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 valued at $35,632,000 after purchasing an additional 243,875 shares during the last quarter. Voya Investment Management LLC grew its position in Granite Construction by 1,058.0% during the 4th quarter. Voya Investment Management LLC now owns 214,777 shares of the construction company's stock valued at $18,838,000 after purchasing an additional 196,229 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in Granite Construction by 7,509.2% during the 1st quarter. GAMMA Investing LLC now owns 165,729 shares of the construction company's stock valued at $12,496,000 after purchasing an additional 163,551 shares during the last quarter.

Analyst Upgrades and Downgrades

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

Insider Activity at Granite Construction

In other news, SVP Michael G. Tatusko sold 2,000 shares of the business's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $110.00, for a total transaction of $220,000.00. Following the sale, the senior vice president owned 29,241 shares in the company, valued at approximately $3,216,510. The trade was 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 accessible through this hyperlink. Also, SVP Brian R. Dowd sold 2,025 shares of the business's stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $110.16, for a total value of $223,074.00. Following the sale, the senior vice president owned 14,685 shares in the company, valued at $1,617,699.60. The trade was a 12.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,525 shares of company stock worth $608,314 over the last three months. 1.00% of the stock is owned by corporate insiders.

Granite Construction Price Performance

Shares of Granite Construction stock traded down $0.11 on Thursday, hitting $109.86. 592,327 shares of the company traded hands, compared to its average volume of 618,892. The stock has a market capitalization of $4.81 billion, a P/E ratio of 35.90 and a beta of 1.39. 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 Incorporated has a 52 week low of $69.08 and a 52 week high of $112.16. The business has a 50-day simple moving average of $97.96 and a 200 day simple moving average of $87.31.

Granite Construction (NYSE:GVA - Get Free Report) last posted its earnings results on Thursday, August 7th. The construction company reported $1.93 earnings per share for the quarter, beating 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 firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the firm posted $1.73 earnings per share. Granite Construction's revenue for the quarter was up 4.4% compared to the same quarter last year. Granite Construction has set its FY 2025 guidance at EPS. Research analysts expect that Granite Construction Incorporated will post 5.49 earnings per share for the current fiscal year.

Granite Construction Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Monday, June 30th. Granite Construction's payout ratio is presently 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.