Versor Investments LP Raises Position in Granite Construction Incorporated $GVA

Key Points

• Versor Investments LP significantly increased its stake in Granite Construction by 49.3% in the first quarter, bringing its total to 14,750 shares valued at approximately $1,112,000.
• Granite Construction recently reported quarterly earnings of $1.93 per share, exceeding analysts' estimates, and achieved a revenue of $1.13 billion.
• The company declared a quarterly dividend of $0.13 per share, with a dividend yield of 0.5% and a payout ratio of 16.99%.

Versor Investments LP grew its position in Granite Construction Incorporated (NYSE:GVA - Free Report) by 49.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,750 shares of the construction company's stock after purchasing an additional 4,872 shares during the quarter. Versor Investments LP's holdings in Granite Construction were worth $1,112,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of GVA. Federated Hermes Inc. acquired a new stake in shares of Granite Construction in the 4th quarter valued at $26,000. Larson Financial Group LLC raised its holdings in shares of Granite Construction by 214.2% in the 1st 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 in the last quarter. Quarry LP raised its holdings in shares of Granite Construction by 68.4% in the 4th quarter. Quarry LP now owns 325 shares of the construction company's stock valued at $29,000 after purchasing an additional 132 shares in the last quarter. Rothschild Investment LLC raised its holdings in shares of Granite Construction by 80.3% in the 1st quarter. Rothschild Investment LLC now owns 640 shares of the construction company's stock valued at $48,000 after purchasing an additional 285 shares in the last quarter. Finally, CWM LLC raised 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 purchasing an additional 141 shares in the last quarter.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. The Goldman Sachs Group lifted their price target on shares of Granite Construction from $69.00 to $76.00 and gave the stock a "sell" rating in a research note 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 equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of "Sell" and a consensus target price of $76.00.

Granite Construction Stock Performance

Granite Construction stock traded up $1.2850 during midday trading on Friday, hitting $110.8750. 417,454 shares of the company's stock were exchanged, compared to its average volume of 712,614. Granite Construction Incorporated has a 12-month low of $69.08 and a 12-month high of $112.16. 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 stock has a market cap of $4.86 billion, a price-to-earnings ratio of 36.23 and a beta of 1.39. The firm's 50 day simple moving average is $96.70 and its 200 day simple moving average is $86.86.

Granite Construction (NYSE:GVA - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The construction company reported $1.93 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the firm posted $1.73 EPS. Granite Construction's revenue for the quarter was up 4.4% on a year-over-year basis. Granite Construction has set its FY 2025 guidance at EPS. Equities research analysts predict that Granite Construction Incorporated will post 5.49 EPS for the current year.

Granite Construction Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Monday, June 30th. Granite Construction's dividend payout ratio (DPR) is presently 16.99%.

Insider Buying and Selling 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 value of $220,000.00. Following the sale, the senior vice president owned 29,241 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Brian R. Dowd sold 2,025 shares of Granite Construction stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $91.76, for a total transaction of $185,814.00. Following the completion of the sale, the senior vice president directly owned 18,819 shares in the company, valued at approximately $1,726,831.44. The trade was a 9.72% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company's stock.

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.