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

Other hedge funds have also modified their holdings of the company. Principal Financial Group Inc. grew its holdings in shares of Granite Construction by 1.8% during the 1st quarter. Principal Financial Group Inc. now owns 216,837 shares of the construction company's stock worth $16,350,000 after purchasing an additional 3,737 shares during the period. Golden State Wealth Management LLC grew its holdings in shares of Granite Construction by 16.6% during the 1st quarter. Golden State Wealth Management LLC now owns 5,101 shares of the construction company's stock worth $385,000 after purchasing an additional 725 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of Granite Construction during the 4th quarter worth $1,465,000. Blue Trust Inc. grew its holdings in shares of Granite Construction by 40.5% during the 1st quarter. Blue Trust Inc. now owns 781 shares of the construction company's stock worth $59,000 after purchasing an additional 225 shares during the period. Finally, GSA Capital Partners LLP grew its holdings in shares of Granite Construction by 112.9% during the 1st quarter. GSA Capital Partners LLP now owns 11,279 shares of the construction company's stock worth $850,000 after purchasing an additional 5,981 shares during the period.

Granite Construction Stock Down 1.7%

Shares of GVA traded down $1.91 during midday trading on Friday, hitting $108.01. The company had a trading volume of 497,931 shares, compared to its average volume of 678,605. The company's 50-day simple moving average is $98.76 and its 200-day simple moving average is $87.59. 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 firm has a market capitalization of $4.73 billion, a P/E ratio of 35.30 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.

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

Granite Construction Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a dividend of $0.13 per share. The ex-dividend date was Monday, June 30th. This represents a $0.52 annualized dividend and a yield of 0.5%. Granite Construction's payout ratio is presently 16.99%.

Insider Buying and Selling

In other Granite Construction news, Director Louis E. Caldera sold 1,500 shares of the business's stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $110.16, for a total value of $165,240.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael G. Tatusko sold 2,000 shares of the business's 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 approximately $3,216,510. This represents a 6.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,525 shares of company stock worth $608,314 over the last 90 days. 1.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GVA. The Goldman Sachs Group increased their price target on 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 upgraded Granite Construction from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently 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.