Quantbot Technologies LP Acquires 27,633 Shares of Granite Construction Incorporated $GVA

Key Points

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Quantbot Technologies LP boosted its holdings in Granite Construction Incorporated (NYSE:GVA - Free Report) by 82.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 61,257 shares of the construction company's stock after purchasing an additional 27,633 shares during the quarter. Quantbot Technologies LP owned 0.14% of Granite Construction worth $4,619,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Versor Investments LP raised its stake in Granite Construction by 49.3% in the 1st quarter. Versor Investments LP now owns 14,750 shares of the construction company's stock worth $1,112,000 after purchasing an additional 4,872 shares in the last quarter. Algert Global LLC raised its stake in Granite Construction by 14.6% in the 1st quarter. Algert Global LLC now owns 182,299 shares of the construction company's stock worth $13,745,000 after purchasing an additional 23,182 shares in the last quarter. Ethic Inc. raised its stake in Granite Construction by 12.0% in the 1st quarter. Ethic Inc. now owns 6,959 shares of the construction company's stock worth $531,000 after purchasing an additional 748 shares in the last quarter. Boston Partners raised its stake in Granite Construction by 0.5% in the 1st quarter. Boston Partners now owns 587,209 shares of the construction company's stock worth $44,392,000 after purchasing an additional 2,811 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Granite Construction in the 1st quarter worth about $70,000.

Insider Activity at Granite Construction

In related news, SVP Brian R. Dowd sold 2,025 shares of Granite Construction stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $91.76, for a total transaction of $185,814.00. Following the sale, the senior vice president directly owned 18,819 shares of the company's stock, valued at approximately $1,726,831.44. The trade was a 9.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Michael G. Tatusko sold 2,000 shares of Granite Construction stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $110.00, for a total transaction of $220,000.00. Following the sale, the senior vice president directly owned 29,241 shares in the company, valued at $3,216,510. This trade represents a 6.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company's stock.

Granite Construction Price Performance

Shares of NYSE:GVA traded up $1.2850 during midday trading on Friday, hitting $110.8750. The stock had a trading volume of 417,454 shares, compared to its average volume of 690,849. The company's 50-day moving average price is $96.70 and its 200-day moving average price is $86.84. The company has a market capitalization of $4.86 billion, a P/E ratio of 36.23 and a beta of 1.39. The company has a quick ratio of 1.45, a current ratio of 1.57 and a debt-to-equity ratio of 0.66. Granite Construction Incorporated has a fifty-two week low of $69.08 and a fifty-two week high of $112.16.

Granite Construction (NYSE:GVA - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.16 billion. Granite Construction had a net margin of 3.89% and a return on equity of 21.64%. The firm's revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.73 EPS. Granite Construction has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Granite Construction Incorporated will post 5.49 EPS for the current fiscal year.

Granite Construction Dividend Announcement

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

Analyst Upgrades and Downgrades

GVA has been the subject of several analyst reports. The Goldman Sachs Group boosted their target price 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. Wall Street Zen upgraded shares of Granite Construction from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Granite Construction currently has an average rating of "Sell" and an average price target of $76.00.

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.