Deutsche Bank AG Has $2.70 Million Stock Position in Granite Construction Incorporated $GVA

Deutsche Bank AG decreased its position in Granite Construction Incorporated (NYSE:GVA) by 9.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 35,809 shares of the construction company’s stock after selling 3,535 shares during the period. Deutsche Bank AG owned approximately 0.08% of Granite Construction worth $2,700,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in GVA. New Age Alpha Advisors LLC bought a new stake in Granite Construction in the 1st quarter valued at $223,000. Cheviot Value Management LLC acquired a new position in Granite Construction in the 1st quarter worth $73,000. R Squared Ltd boosted its stake in Granite Construction by 144.6% in the 1st quarter. R Squared Ltd now owns 5,870 shares of the construction company’s stock worth $443,000 after purchasing an additional 3,470 shares during the period. PNC Financial Services Group Inc. boosted its stake in Granite Construction by 4.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,539 shares of the construction company’s stock worth $644,000 after purchasing an additional 398 shares during the period. Finally, Bayforest Capital Ltd boosted its stake in Granite Construction by 208.6% in the 1st quarter. Bayforest Capital Ltd now owns 9,212 shares of the construction company’s stock worth $695,000 after purchasing an additional 6,227 shares during the period.

Granite Construction Stock Down 0.5%

Shares of GVA stock opened at $109.4530 on Wednesday. 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’s 50-day moving average is $95.47 and its 200-day moving average is $86.38. The stock has a market cap of $4.79 billion, a price-to-earnings ratio of 35.77 and a beta of 1.39. Granite Construction Incorporated has a 52-week low of $69.08 and a 52-week high of $111.43.

Granite Construction (NYSE:GVA) last issued its earnings results 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 company 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%. Granite Construction’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.73 EPS. Granite Construction has set its FY 2025 guidance at EPS. Sell-side analysts predict that Granite Construction Incorporated will post 5.49 EPS for the current year.

Granite Construction Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on GVA. Wall Street Zen raised shares of Granite Construction from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. The Goldman Sachs Group upped their target price 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. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Granite Construction presently has a consensus rating of “Sell” and a consensus target price of $76.00.

Insider Activity at Granite Construction

In other news, SVP Brian R. Dowd sold 2,025 shares of the firm’s stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $91.76, for a total transaction of $185,814.00. Following the transaction, the senior vice president directly owned 18,819 shares of the company’s stock, valued at approximately $1,726,831.44. This trade represents a 9.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

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.