Systematic Financial Management LP Sells 8,358 Shares of Granite Construction Incorporated $GVA

Key Points

• Systematic Financial Management LP reduced its stake in Granite Construction by 1.5%, selling 8,358 shares, and now owns 563,490 shares valued at approximately $42.5 million.
• Granite Construction announced a quarterly dividend of $0.13, which represents an annualized yield of 0.5% and reflects a payout ratio of 16.99%.
• Recent earnings showed Granite Construction reported $1.93 EPS, beating estimates by $0.16, despite revenues slightly below expectations at $1.13 billion for the quarter.

Systematic Financial Management LP lessened its position in Granite Construction Incorporated (NYSE:GVA - Free Report) by 1.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 563,490 shares of the construction company's stock after selling 8,358 shares during the period. Granite Construction accounts for about 1.2% of Systematic Financial Management LP's portfolio, making the stock its 14th biggest holding. Systematic Financial Management LP owned about 1.29% of Granite Construction worth $42,487,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of GVA. Nuveen LLC acquired a new stake in shares of Granite Construction in the first quarter valued at about $21,966,000. Millennium Management LLC grew its stake in Granite Construction by 11.0% during the fourth quarter. Millennium Management LLC now owns 2,651,676 shares of the construction company's stock worth $232,579,000 after purchasing an additional 263,302 shares during the period. RPG Investment Advisory LLC boosted its holdings in Granite Construction by 106.6% in the first quarter. RPG Investment Advisory LLC now owns 472,566 shares of the construction company's stock worth $35,632,000 after acquiring an additional 243,875 shares in the last quarter. Voya Investment Management LLC boosted its holdings in Granite Construction by 1,058.0% in the fourth quarter. Voya Investment Management LLC now owns 214,777 shares of the construction company's stock worth $18,838,000 after acquiring an additional 196,229 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Granite Construction by 7,509.2% in the first quarter. GAMMA Investing LLC now owns 165,729 shares of the construction company's stock worth $12,496,000 after acquiring an additional 163,551 shares in the last quarter.

Insider Transactions at Granite Construction

In other news, SVP Michael G. Tatusko sold 2,000 shares of Granite Construction stock in a transaction dated 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 owned 29,241 shares of the company's stock, valued at approximately $3,216,510. The trade was a 6.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Brian R. Dowd sold 2,025 shares of the business's stock in a transaction dated Wednesday, May 28th. The stock was 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 in the company, valued at $1,726,831.44. The trade was a 9.72% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company's stock.

Granite Construction Trading Down 1.2%

Shares of GVA stock traded down $1.3770 during mid-day trading on Monday, reaching $109.6730. The stock had a trading volume of 259,819 shares, compared to its average volume of 690,849. The stock's 50-day moving average price is $97.11 and its two-hundred day moving average price is $86.99. Granite Construction Incorporated has a 52-week low of $69.08 and a 52-week high of $112.16. The firm has a market capitalization of $4.80 billion, a PE ratio of 35.84 and a beta of 1.39. The company has a current ratio of 1.57, a quick ratio of 1.45 and a debt-to-equity ratio of 0.66.

Granite Construction (NYSE:GVA - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The construction company reported $1.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.77 by $0.16. The firm had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $1.16 billion. Granite Construction had a net margin of 3.89% and a return on equity of 21.64%. The company's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.73 earnings per share. Granite Construction has set its FY 2025 guidance at EPS. Equities analysts expect that Granite Construction Incorporated will post 5.49 earnings per share for the current fiscal year.

Granite Construction Announces Dividend

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

Analysts Set New Price Targets

GVA has been the topic of a number of recent research reports. The Goldman Sachs Group raised their target price on Granite Construction from $69.00 to $76.00 and gave the company a "sell" rating in a report on Monday, May 5th. Wall Street Zen upgraded 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, According to data from MarketBeat.com, the company currently has an average rating of "Sell" and a consensus price target of $76.00.

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.