Dimensional Fund Advisors LP Decreases Position in Granite Construction Incorporated $GVA

Key Points

• Dimensional Fund Advisors LP reduced its stake in Granite Construction by 12.2%, now holding 1,565,902 shares valued at approximately $118 million.
• Granite Construction's stock has increased by 1.2%, with a market cap of $4.86 billion and a current price of around $110.88.
• The company recently announced a $0.13 quarterly dividend, representing an annual yield of 0.5% and a payout ratio of 16.99%.

Dimensional Fund Advisors LP reduced its stake in Granite Construction Incorporated (NYSE:GVA - Free Report) by 12.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,565,902 shares of the construction company's stock after selling 217,527 shares during the quarter. Dimensional Fund Advisors LP owned about 3.58% of Granite Construction worth $118,065,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quarry LP increased its holdings in Granite Construction by 68.4% in the 4th quarter. Quarry LP now owns 325 shares of the construction company's stock worth $29,000 after buying an additional 132 shares during the period. Larson Financial Group LLC increased its holdings in 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 buying an additional 257 shares during the period. Rothschild Investment LLC increased its holdings in Granite Construction by 80.3% in the 1st quarter. Rothschild Investment LLC now owns 640 shares of the construction company's stock worth $48,000 after buying an additional 285 shares during the period. CWM LLC increased its holdings in Granite Construction by 26.5% in the 1st quarter. CWM LLC now owns 674 shares of the construction company's stock worth $51,000 after buying an additional 141 shares during the period. Finally, Blue Trust Inc. increased 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 worth $59,000 after buying an additional 225 shares during the period.

Analysts Set New Price Targets

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

Insider Transactions 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 completion of the transaction, the senior vice president directly 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Brian R. Dowd sold 2,025 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 $223,074.00. Following the sale, the senior vice president owned 14,685 shares of the company's stock, valued at approximately $1,617,699.60. The trade was a 12.12% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,525 shares of company stock valued at $608,314. 1.00% of the stock is currently owned by corporate insiders.

Granite Construction Price Performance

Shares of NYSE:GVA traded down $0.11 during midday trading on Thursday, reaching $109.86. 592,327 shares of the company's stock traded hands, compared to its average volume of 672,870. Granite Construction Incorporated has a 1 year low of $69.08 and a 1 year high of $112.16. The company has a market cap 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. The company has a fifty day simple moving average of $98.38 and a two-hundred day simple moving average of $87.45.

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 for the quarter, beating analysts' consensus estimates of $1.77 by $0.16. Granite Construction had a return on equity of 21.64% and a net margin of 3.89%.The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the firm posted $1.73 EPS. The firm's revenue for the quarter was up 4.4% on a year-over-year basis. Granite Construction has set its FY 2025 guidance at EPS. Equities analysts predict that Granite Construction Incorporated will post 5.49 EPS for the current fiscal year.

Granite Construction Dividend Announcement

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

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.