HighTower Advisors LLC Has $770,000 Stock Position in Granite Construction Incorporated $GVA

HighTower Advisors LLC decreased its stake in shares of Granite Construction Incorporated (NYSE:GVA) by 39.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,206 shares of the construction company’s stock after selling 6,525 shares during the period. HighTower Advisors LLC’s holdings in Granite Construction were worth $770,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GVA. Envestnet Asset Management Inc. lifted its position in Granite Construction by 36.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 11,952 shares of the construction company’s stock worth $1,048,000 after buying an additional 3,190 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Granite Construction by 8.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 41,787 shares of the construction company’s stock worth $3,666,000 after buying an additional 3,130 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Granite Construction during the 4th quarter worth about $1,581,000. Quarry LP lifted its position in Granite Construction by 68.4% during the 4th quarter. Quarry LP now owns 325 shares of the construction company’s stock worth $29,000 after buying an additional 132 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Granite Construction by 17.9% during the 4th quarter. Northern Trust Corp now owns 579,384 shares of the construction company’s stock worth $50,818,000 after buying an additional 87,783 shares in the last quarter.

Wall Street Analysts Forecast Growth

GVA has been the topic of several research reports. Wall Street Zen upgraded shares of Granite Construction from a “hold” rating to a “buy” rating in a research report 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 company a “sell” rating in a research report on Monday, May 5th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Granite Construction currently has a consensus rating of “Sell” and a consensus price target of $76.00.

Granite Construction Stock Performance

Shares of NYSE:GVA opened at $109.86 on Friday. The company has a market capitalization of $4.81 billion, a price-to-earnings ratio of 35.90 and a beta of 1.39. The firm’s 50 day simple moving average is $98.38 and its 200 day simple moving average is $87.45. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.57 and a quick ratio of 1.45. Granite Construction Incorporated has a fifty-two week low of $69.08 and a fifty-two week high of $112.16.

Granite Construction (NYSE:GVA) last announced its quarterly earnings results on Thursday, August 7th. The construction company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.16. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.16 billion. Granite Construction had a net margin of 3.89% and a return on equity of 21.64%. Granite Construction’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period last year, the company posted $1.73 EPS. Granite Construction has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Granite Construction Incorporated will post 5.49 earnings per share for the current year.

Granite Construction Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Monday, June 30th. Granite Construction’s dividend payout ratio (DPR) is currently 16.99%.

Insider Activity at Granite Construction

In related news, SVP Brian R. Dowd sold 2,025 shares of the stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $110.16, for a total value of $223,074.00. Following the sale, the senior vice president directly owned 14,685 shares in the company, valued at $1,617,699.60. This trade represents a 12.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Michael G. Tatusko sold 2,000 shares of the stock in a transaction that occurred on 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 owned 29,241 shares in the company, valued at $3,216,510. This represents a 6.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,525 shares of company stock worth $608,314 in the last ninety days. Company 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.