Trexquant Investment LP Increases Position in Granite Construction Incorporated $GVA

Key Points

• Trexquant Investment LP increased its stake in Granite Construction by 50.6%, acquiring 37,961 additional shares, which now total 113,019 shares valued at approximately $8.52 million.
• Granite Construction recently reported a quarterly earnings per share (EPS) of $1.93, exceeding analysts' expectations of $1.77 and marking a 4.4% revenue increase from the same quarter last year.
• The company has announced a quarterly dividend of $0.13, representing an annualized dividend yield of 0.5%, with a dividend payout ratio of 16.99%.

Trexquant Investment LP grew its holdings in Granite Construction Incorporated (NYSE:GVA - Free Report) by 50.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 113,019 shares of the construction company's stock after acquiring an additional 37,961 shares during the period. Trexquant Investment LP owned about 0.26% of Granite Construction worth $8,522,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. B. Metzler seel. Sohn & Co. AG grew its stake in shares of Granite Construction by 14.7% in the first quarter. B. Metzler seel. Sohn & Co. AG now owns 17,378 shares of the construction company's stock worth $1,310,000 after acquiring an additional 2,223 shares in the last quarter. Hill City Capital LP lifted its position in shares of Granite Construction by 1.1% during the 1st quarter. Hill City Capital LP now owns 1,060,048 shares of the construction company's stock worth $79,928,000 after purchasing an additional 11,110 shares during the last quarter. RPg Family Wealth Advisory LLC lifted its position in shares of Granite Construction by 3.4% during the 1st quarter. RPg Family Wealth Advisory LLC now owns 56,634 shares of the construction company's stock worth $4,278,000 after purchasing an additional 1,845 shares during the last quarter. Campbell & CO Investment Adviser LLC lifted its position in shares of Granite Construction by 186.5% during the 1st quarter. Campbell & CO Investment Adviser LLC now owns 26,950 shares of the construction company's stock worth $2,032,000 after purchasing an additional 17,545 shares during the last quarter. Finally, Jump Financial LLC lifted its position in shares of Granite Construction by 3,463.8% during the 1st quarter. Jump Financial LLC now owns 88,025 shares of the construction company's stock worth $6,637,000 after purchasing an additional 85,555 shares during the last quarter.

Granite Construction Stock Performance

NYSE GVA traded up $2.19 during trading on Thursday, reaching $107.92. The company's stock had a trading volume of 171,439 shares, compared to its average volume of 613,707. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.45 and a current ratio of 1.57. The firm has a market cap of $4.73 billion, a price-to-earnings ratio of 35.27 and a beta of 1.41. Granite Construction Incorporated has a twelve month low of $69.08 and a twelve month high of $112.16. The business's fifty day moving average price is $99.70 and its 200-day moving average price is $88.00.

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 (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the business posted $1.73 earnings per share. The business's revenue was up 4.4% compared to the same quarter last year. Granite Construction has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Granite Construction Incorporated will post 5.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Granite Construction news, Director Louis E. Caldera sold 1,500 shares of the company's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $110.16, for a total value of $165,240.00. Following the sale, the director owned 10,601 shares of the company's stock, valued at $1,167,806.16. This represents a 12.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $220,000.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 5,525 shares of company stock worth $608,314. 1.00% of the stock is owned by company insiders.

About Granite Construction

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.