Dimensional Fund Advisors LP Has $118.07 Million Stock 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 cut its holdings in Granite Construction Incorporated (NYSE:GVA - Free Report) by 12.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Principal Financial Group Inc. raised its holdings in shares of Granite Construction by 1.8% during the first quarter. Principal Financial Group Inc. now owns 216,837 shares of the construction company's stock valued at $16,350,000 after acquiring an additional 3,737 shares during the period. Golden State Wealth Management LLC raised its stake in 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 valued at $385,000 after purchasing an additional 725 shares during the period. Point72 Asset Management L.P. acquired a new stake in Granite Construction during the 4th quarter valued at $1,465,000. Blue Trust Inc. raised its stake in Granite Construction by 40.5% during the 1st quarter. Blue Trust Inc. now owns 781 shares of the construction company's stock valued at $59,000 after purchasing an additional 225 shares during the period. Finally, GSA Capital Partners LLP raised its stake in Granite Construction by 112.9% during the 1st quarter. GSA Capital Partners LLP now owns 11,279 shares of the construction company's stock valued at $850,000 after purchasing an additional 5,981 shares during the period.

Analyst Ratings Changes

Several research analysts have weighed in on GVA shares. Wall Street Zen upgraded shares of Granite Construction from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. The Goldman Sachs Group upped their price target 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. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Granite Construction presently has a consensus rating of "Sell" and an average target price of $76.00.

Insider Transactions at Granite Construction

In related news, SVP Michael G. Tatusko sold 2,000 shares of the firm's stock in a transaction 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 transaction, the senior vice president directly owned 29,241 shares in the company, valued at approximately $3,216,510. This trade represents a 6.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.00% of the company's stock.

Granite Construction Stock Down 0.2%

Granite Construction stock traded down $0.20 during mid-day trading on Wednesday, hitting $110.31. 113,192 shares of the company's stock were exchanged, compared to its average volume of 618,066. The company has a current ratio of 1.57, a quick ratio of 1.45 and a debt-to-equity ratio of 0.66. The stock has a market cap of $4.83 billion, a P/E ratio of 36.05 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. The stock has a 50 day moving average of $97.54 and a two-hundred day moving average of $87.15.

Granite Construction (NYSE:GVA - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The construction company reported $1.93 EPS 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 business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior 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. As a group, analysts anticipate 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. Investors of record on Monday, June 30th were paid a $0.13 dividend. The ex-dividend date was Monday, June 30th. This represents a $0.52 dividend on an annualized basis and a yield of 0.5%. Granite Construction's dividend payout ratio (DPR) is presently 16.99%.

Granite Construction 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.