Granite Construction Incorporated $GVA Shares Bought by RPG Investment Advisory LLC

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 grew its holdings in Granite Construction Incorporated (NYSE:GVA - Free Report) by 106.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 472,566 shares of the construction company's stock after purchasing an additional 243,875 shares during the quarter. Granite Construction makes up approximately 2.6% of RPG Investment Advisory LLC's portfolio, making the stock its 10th largest holding. RPG Investment Advisory LLC owned 1.08% of Granite Construction worth $35,632,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Envestnet Asset Management Inc. raised its position in shares of Granite Construction by 36.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 11,952 shares of the construction company's stock valued at $1,048,000 after buying an additional 3,190 shares during the last quarter. Mariner LLC increased its stake in Granite Construction by 1.0% during 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 last quarter. Jump Financial LLC acquired a new stake in Granite Construction during the 4th quarter worth approximately $217,000. NewEdge Advisors LLC raised its holdings in Granite Construction by 3.7% in the fourth quarter. NewEdge Advisors LLC now owns 15,591 shares of the construction company's stock valued at $1,367,000 after buying an additional 561 shares during the period. Finally, MetLife Investment Management LLC lifted its position in Granite Construction by 4.6% during the fourth quarter. MetLife Investment Management LLC now owns 26,591 shares of the construction company's stock valued at $2,332,000 after buying an additional 1,166 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wall Street Zen raised shares of Granite Construction from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. The Goldman Sachs Group increased their price objective 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. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Sell" and an average target price of $76.00.

Granite Construction Stock Performance

Shares of GVA stock traded down $0.32 on Wednesday, hitting $110.18. 80,553 shares of the stock traded hands, compared to its average volume of 617,835. The company has a market capitalization of $4.82 billion, a PE ratio of 36.01 and a beta of 1.39. The company's fifty day moving average is $97.54 and its 200 day moving average is $87.15. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.57 and a quick ratio of 1.45. 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 posted its quarterly earnings results on Thursday, August 7th. The construction company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.77 by $0.16. Granite Construction had a net margin of 3.89% and a return on equity of 21.64%. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the business posted $1.73 EPS. The company's quarterly revenue was up 4.4% on a year-over-year basis. Granite Construction has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Granite Construction Incorporated will post 5.49 earnings per share for the current fiscal year.

Granite Construction Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a dividend of $0.13 per share. 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 payout ratio is currently 16.99%.

Insider Transactions at Granite Construction

In other news, SVP Michael G. Tatusko sold 2,000 shares of the business's stock in a transaction 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 completion of the transaction, the senior vice president 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 legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.00% of the company's stock.

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.