William Blair Investment Management LLC Lowers Position in Granite Construction Incorporated $GVA

Key Points

• William Blair Investment Management LLC reduced its holdings in Granite Construction by 7.4%, now owning 300,030 shares worth approximately $28 million.
• Granite Construction recently declared a quarterly dividend of $0.13, resulting in an annualized yield of 0.5% and a dividend payout ratio of 16.99%.
• Equities analysts have upgraded Granite Construction's rating, with a consensus "Hold" rating and one buy and one sell rating, alongside an average price target of $76.00.

William Blair Investment Management LLC decreased its holdings in shares of Granite Construction Incorporated (NYSE:GVA - Free Report) by 7.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 300,030 shares of the construction company's stock after selling 24,091 shares during the quarter. William Blair Investment Management LLC owned about 0.69% of Granite Construction worth $28,056,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Hill City Capital LP lifted its position in Granite Construction by 1.1% during the first quarter. Hill City Capital LP now owns 1,060,048 shares of the construction company's stock valued at $79,928,000 after purchasing an additional 11,110 shares during the last quarter. Invesco Ltd. lifted its position in Granite Construction by 12.4% during the first quarter. Invesco Ltd. now owns 652,759 shares of the construction company's stock valued at $49,218,000 after purchasing an additional 72,175 shares during the last quarter. Mizuho Markets Americas LLC lifted its position in Granite Construction by 22.7% during the first quarter. Mizuho Markets Americas LLC now owns 607,269 shares of the construction company's stock valued at $45,788,000 after purchasing an additional 112,371 shares during the last quarter. Boston Partners lifted its position in Granite Construction by 0.5% during the first quarter. Boston Partners now owns 587,209 shares of the construction company's stock valued at $44,392,000 after purchasing an additional 2,811 shares during the last quarter. Finally, RPG Investment Advisory LLC lifted its position in Granite Construction by 106.6% during the first quarter. RPG Investment Advisory LLC now owns 472,566 shares of the construction company's stock valued at $35,632,000 after purchasing an additional 243,875 shares during the last quarter.

Analyst Ratings Changes

Several equities analysts have commented on GVA shares. Wall Street Zen upgraded shares of Granite Construction from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Granite Construction in a research report on Tuesday, October 14th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $76.00.

Insider Buying and Selling

In related news, Director Louis E. Caldera sold 1,500 shares of the firm'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 transaction, the director owned 10,601 shares of the company's stock, valued at $1,167,806.16. This trade represents a 12.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Brian R. Dowd sold 2,025 shares of the firm's stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $110.16, for a total transaction of $223,074.00. Following the completion of the transaction, the senior vice president directly owned 14,685 shares in the company, valued at $1,617,699.60. This represents a 12.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,525 shares of company stock valued at $608,314 in the last 90 days. Company insiders own 1.00% of the company's stock.

Granite Construction Trading Down 0.5%

Shares of GVA opened at $105.05 on Monday. Granite Construction Incorporated has a twelve month low of $69.08 and a twelve month high of $112.16. The company has a market cap of $4.60 billion, a P/E ratio of 34.33 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. The company's fifty day simple moving average is $108.45 and its 200-day simple moving average is $94.84.

Granite Construction (NYSE:GVA - Get Free Report) last announced its earnings results on Thursday, August 7th. The construction company reported $1.93 earnings per share for the quarter, beating 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 business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the firm posted $1.73 earnings per share. The business'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. As a group, analysts expect that Granite Construction Incorporated will post 5.49 EPS for the current year.

Granite Construction Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Tuesday, September 30th. Granite Construction's dividend payout ratio (DPR) is currently 16.99%.

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.

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