Intech Investment Management LLC Acquires 3,516 Shares of Granite Construction Incorporated $GVA

Key Points

• Intech Investment Management LLC raised its position in Granite Construction by 8.3%, owning approximately 45,731 shares valued at $3.45 million.
• Granite Construction recently reported an EPS of $1.93 for the quarter, exceeding estimates, and has set its FY 2025 guidance with analysts predicting an EPS of 5.49 for the current fiscal year.
• The company declared a quarterly dividend of $0.13 per share, with a dividend yield of 0.5%, scheduled for payment on October 15th.

Intech Investment Management LLC lifted its position in Granite Construction Incorporated (NYSE:GVA - Free Report) by 8.3% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 45,731 shares of the construction company's stock after purchasing an additional 3,516 shares during the period. Intech Investment Management LLC owned about 0.10% of Granite Construction worth $3,448,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. CWM LLC lifted its stake in Granite Construction by 26.5% in the first quarter. CWM LLC now owns 674 shares of the construction company's stock worth $51,000 after acquiring an additional 141 shares during the period. Xponance Inc. lifted its stake in Granite Construction by 5.1% in the first quarter. Xponance Inc. now owns 3,328 shares of the construction company's stock worth $251,000 after acquiring an additional 160 shares during the period. LPL Financial LLC lifted its stake in Granite Construction by 0.4% in the first quarter. LPL Financial LLC now owns 44,934 shares of the construction company's stock worth $3,388,000 after acquiring an additional 195 shares during the period. Blue Trust Inc. lifted its stake in Granite Construction by 40.5% in the first quarter. Blue Trust Inc. now owns 781 shares of the construction company's stock worth $59,000 after acquiring an additional 225 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Granite Construction by 1.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,948 shares of the construction company's stock worth $901,000 after acquiring an additional 225 shares during the period.

Granite Construction Stock Up 1.8%

Granite Construction stock traded up $1.96 on Thursday, hitting $109.56. 541,748 shares of the stock traded hands, compared to its average volume of 422,545. 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 firm has a market cap of $4.80 billion, a P/E ratio of 35.80 and a beta of 1.41. The business's fifty day simple moving average is $103.01 and its 200 day simple moving average is $89.89. 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 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 analyst estimates of $1.16 billion. Granite Construction had a return on equity of 21.64% and a net margin of 3.89%.The company's revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.73 earnings per share. Granite Construction has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Granite Construction Incorporated will post 5.49 earnings per share for the current year.

Granite Construction Dividend Announcement

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

Analyst Ratings Changes

Separately, Wall Street Zen raised 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, According to data from MarketBeat, the company currently has a consensus rating of "Sell" and a consensus price target of $76.00.

Insider Transactions at Granite Construction

In other news, Director Louis E. Caldera sold 1,500 shares of Granite Construction stock in a transaction dated 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 transaction, the director owned 10,601 shares of the company's stock, valued at $1,167,806.16. The trade was a 12.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael G. Tatusko sold 2,000 shares of Granite Construction stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $110.00, for a total value 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. 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 valued at $608,314 in the last quarter. 1.00% of the stock is owned by insiders.

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.