Granite Construction Incorporated $GVA Stock Holdings Trimmed by Systematic Financial Management LP

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 reduced its holdings in Granite Construction Incorporated (NYSE:GVA - Free Report) by 1.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 563,490 shares of the construction company's stock after selling 8,358 shares during the period. Granite Construction comprises 1.2% of Systematic Financial Management LP's holdings, making the stock its 14th largest position. Systematic Financial Management LP owned about 1.29% of Granite Construction worth $42,487,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. 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 last quarter. Larson Financial Group LLC raised its position in Granite Construction by 214.2% in the first quarter. Larson Financial Group LLC now owns 377 shares of the construction company's stock valued at $28,000 after purchasing an additional 257 shares during the period. Rothschild Investment LLC increased its holdings in Granite Construction by 80.3% during the 1st quarter. Rothschild Investment LLC now owns 640 shares of the construction company's stock worth $48,000 after purchasing an additional 285 shares during the period. CWM LLC increased its holdings in shares of Granite Construction by 26.5% in the 1st quarter. CWM LLC now owns 674 shares of the construction company's stock valued at $51,000 after acquiring an additional 141 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Granite Construction by 40.5% in the 1st quarter. Blue Trust Inc. now owns 781 shares of the construction company's stock valued at $59,000 after acquiring an additional 225 shares during the last quarter.

Granite Construction Stock Down 0.1%

Shares of GVA traded down $0.16 during midday trading on Thursday, reaching $109.81. 149,948 shares of the company were exchanged, compared to its average volume of 616,407. 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 Incorporated has a 1-year low of $69.08 and a 1-year high of $112.16. The stock has a 50-day moving average price of $97.96 and a 200-day moving average price of $87.31. The company has a market cap of $4.81 billion, a price-to-earnings ratio of 35.88 and a beta of 1.39.

Granite Construction (NYSE:GVA - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The construction company reported $1.93 EPS 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 business had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $1.16 billion. During the same quarter in the previous year, the firm posted $1.73 earnings per share. The company's revenue was up 4.4% compared to the same quarter last year. Granite Construction has set its FY 2025 guidance at EPS. Research analysts expect that Granite Construction Incorporated will post 5.49 earnings per share for the current year.

Granite Construction Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a $0.13 dividend. The ex-dividend date 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%.

Insider Activity at Granite Construction

In related news, SVP Michael G. Tatusko sold 2,000 shares of the business's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $110.00, for a total value of $220,000.00. Following the transaction, the senior vice president owned 29,241 shares in the company, valued at approximately $3,216,510. The trade was a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GVA. The Goldman Sachs Group increased their price objective on Granite Construction from $69.00 to $76.00 and gave the stock a "sell" rating in a research report on Monday, May 5th. Wall Street Zen raised Granite Construction from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of "Sell" and an average target price 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.