Strs Ohio Makes New Investment in Granite Construction Incorporated $GVA

Key Points

• Strs Ohio has invested approximately $1.07 million in Granite Construction, buying 14,200 shares of the company's stock in the first quarter.
• Granite Construction reported $1.93 earnings per share for the last quarter, exceeding the consensus estimate of $1.77, alongside a revenue of $1.13 billion.
• The company declared a quarterly dividend of $0.13 per share, with an ex-dividend date of September 30th, representing an annual yield of 0.5%.

Strs Ohio purchased a new position in Granite Construction Incorporated (NYSE:GVA - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 14,200 shares of the construction company's stock, valued at approximately $1,071,000.

A number of other institutional investors also recently bought and sold shares of GVA. Larson Financial Group LLC boosted its stake in shares of Granite Construction by 214.2% during the 1st quarter. Larson Financial Group LLC now owns 377 shares of the construction company's stock worth $28,000 after purchasing an additional 257 shares during the period. Rothschild Investment LLC boosted its position in shares of Granite Construction by 80.3% during the first quarter. Rothschild Investment LLC now owns 640 shares of the construction company's stock valued at $48,000 after buying an additional 285 shares during the period. CWM LLC grew its stake in shares of Granite Construction by 26.5% during the first quarter. CWM LLC now owns 674 shares of the construction company's stock valued at $51,000 after buying an additional 141 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of 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 buying an additional 225 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in Granite Construction by 53.0% during the 1st quarter. Versant Capital Management Inc now owns 855 shares of the construction company's stock valued at $64,000 after acquiring an additional 296 shares during the period.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Granite Construction from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Granite Construction presently has an average rating of "Sell" and a consensus price target of $76.00.

Insiders Place Their Bets

In other news, Director Louis E. Caldera sold 1,500 shares of the stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $110.16, for a total transaction of $165,240.00. Following the completion of the sale, the director owned 10,601 shares in the company, valued at approximately $1,167,806.16. This represents a 12.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Michael G. Tatusko sold 2,000 shares of the company's stock in a transaction dated 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 $3,216,510. This represents a 6.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,525 shares of company stock valued at $608,314. 1.00% of the stock is currently owned by insiders.

Granite Construction Stock Up 0.8%

Shares of NYSE:GVA traded up $0.84 on Monday, reaching $110.84. The company had a trading volume of 368,245 shares, compared to its average volume of 480,708. 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 capitalization of $4.85 billion, a PE ratio of 36.22 and a beta of 1.40. Granite Construction Incorporated has a 52-week low of $69.08 and a 52-week high of $112.16. The firm's 50 day simple moving average is $103.68 and its 200-day simple moving average is $90.52.

Granite Construction (NYSE:GVA - Get Free Report) last announced its earnings results on Thursday, August 7th. The construction company reported $1.93 EPS for the quarter, topping analysts' consensus estimates of $1.77 by $0.16. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate 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 company posted $1.73 earnings per share. Granite Construction has set its FY 2025 guidance at EPS. As a group, analysts expect that Granite Construction Incorporated will post 5.49 earnings per share for the current fiscal year.

Granite Construction Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.5%. The ex-dividend date is Tuesday, September 30th. Granite Construction's dividend payout ratio (DPR) is 16.99%.

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.