RPG Investment Advisory LLC Boosts Stock Position in Granite Construction Incorporated $GVA

Key Points

• RPG Investment Advisory LLC increased its stake in Granite Construction by 106.6% in Q1, now owning approximately $35.63 million worth of the company's stock.
• Granite Construction reported an EPS of $1.93 for the recent quarter, surpassing estimates, while its revenue of $1.13 billion fell slightly short of expectations.
• The company declared a quarterly dividend of $0.13 per share, representing an annualized yield of 0.5% and a payout ratio of approximately 16.99%.

RPG Investment Advisory LLC lifted its holdings in Granite Construction Incorporated (NYSE:GVA - Free Report) by 106.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 472,566 shares of the construction company's stock after acquiring an additional 243,875 shares during the period. Granite Construction accounts for about 2.6% of RPG Investment Advisory LLC's portfolio, making the stock its 10th biggest holding. RPG Investment Advisory LLC owned approximately 1.08% of Granite Construction worth $35,632,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Mariner LLC boosted its stake in shares of Granite Construction by 1.0% in the fourth quarter. Mariner LLC now owns 12,408 shares of the construction company's stock worth $1,088,000 after acquiring an additional 119 shares during the period. Quarry LP boosted its stake in shares of Granite Construction by 68.4% in the fourth quarter. Quarry LP now owns 325 shares of the construction company's stock worth $29,000 after acquiring an additional 132 shares during the period. CWM LLC boosted its stake in shares of 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. OneDigital Investment Advisors LLC lifted its position in shares of Granite Construction by 3.4% in the fourth quarter. OneDigital Investment Advisors LLC now owns 4,299 shares of the construction company's stock worth $377,000 after buying an additional 142 shares in the last quarter. Finally, Xponance Inc. lifted its position in shares of 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 buying an additional 160 shares in the last quarter.

Insider Activity at Granite Construction

In other Granite Construction news, SVP Michael G. Tatusko sold 2,000 shares of the firm's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $110.00, for a total transaction of $220,000.00. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Brian R. Dowd sold 2,025 shares of Granite Construction stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $91.76, for a total value 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. This trade represents a 9.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company's stock.

Granite Construction Trading Up 1.2%

Shares of NYSE GVA traded up $1.2850 during midday trading on Friday, hitting $110.8750. The company's stock had a trading volume of 417,454 shares, compared to its average volume of 690,849. 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 business's 50 day moving average is $96.70 and its two-hundred day moving average is $86.84. Granite Construction Incorporated has a 12-month low of $69.08 and a 12-month high of $112.16. The firm has a market cap of $4.86 billion, a P/E ratio of 36.23 and a beta of 1.39.

Granite Construction (NYSE:GVA - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The construction company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.16. Granite Construction had a return on equity of 21.64% and a net margin of 3.89%.The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the business posted $1.73 earnings per share. The company'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, equities research analysts expect that Granite Construction Incorporated will post 5.49 EPS for the current year.

Granite Construction Announces Dividend

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

Analyst Ratings Changes

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