Northern Trust Corp Lowers Holdings in Granite Construction Incorporated $GVA

Northern Trust Corp decreased its holdings in Granite Construction Incorporated (NYSE:GVA) by 0.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 575,097 shares of the construction company’s stock after selling 4,287 shares during the quarter. Northern Trust Corp owned approximately 1.31% of Granite Construction worth $43,362,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Larson Financial Group LLC grew its holdings in 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 buying an additional 257 shares during the period. Quarry LP grew its holdings in 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 buying an additional 132 shares during the period. Rothschild Investment LLC grew its holdings in 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 buying an additional 285 shares during the period. CWM LLC lifted its stake 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. Finally, Blue Trust Inc. lifted its stake in shares of Granite Construction by 40.5% in the 1st quarter. Blue Trust Inc. now owns 781 shares of the construction company’s stock valued at $59,000 after purchasing an additional 225 shares in the last quarter.

Wall Street Analyst Weigh In

GVA has been the topic of several research analyst reports. The Goldman Sachs Group lifted their price objective on Granite Construction from $69.00 to $76.00 and gave the company a “sell” rating in a research note on Monday, May 5th. Wall Street Zen raised Granite Construction from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of “Sell” and a consensus price target of $76.00.

Granite Construction Stock Performance

Granite Construction stock opened at $109.86 on Friday. The stock’s 50 day moving average price is $98.38 and its 200 day moving average price is $87.45. The firm has a market capitalization of $4.81 billion, a PE ratio of 35.90 and a beta of 1.39. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.45 and a current ratio of 1.57. Granite Construction Incorporated has a one year low of $69.08 and a one year high of $112.16.

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

Granite Construction Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given 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 yield of 0.5%. Granite Construction’s payout ratio is 16.99%.

Insider Buying and Selling

In related news, Director Louis E. Caldera sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $110.16, for a total transaction of $165,240.00. Following the transaction, the director directly owned 10,601 shares of the company’s stock, valued at approximately $1,167,806.16. The trade was a 12.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Michael G. Tatusko sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $110.00, for a total value of $220,000.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,525 shares of company stock valued at $608,314. 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.