Amundi Reduces Position in Granite Construction Incorporated $GVA

Amundi cut its holdings in Granite Construction Incorporated (NYSE:GVA) by 21.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,537 shares of the construction company’s stock after selling 4,912 shares during the quarter. Amundi’s holdings in Granite Construction were worth $1,314,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. CWM LLC boosted its position in Granite Construction by 26.5% during 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 during the period. Xponance Inc. grew its position in Granite Construction by 5.1% during the 1st quarter. Xponance Inc. now owns 3,328 shares of the construction company’s stock worth $251,000 after acquiring an additional 160 shares during the last quarter. LPL Financial LLC lifted its holdings in Granite Construction by 0.4% during the 1st quarter. LPL Financial LLC now owns 44,934 shares of the construction company’s stock worth $3,388,000 after buying an additional 195 shares in the last quarter. Blue Trust Inc. raised its stake in Granite Construction by 40.5% during the 1st quarter. Blue Trust Inc. now owns 781 shares of the construction company’s stock worth $59,000 after buying an additional 225 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Granite Construction by 1.9% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,948 shares of the construction company’s stock valued at $901,000 after purchasing an additional 225 shares during the last quarter.

Granite Construction Stock Performance

NYSE GVA opened at $107.43 on Friday. Granite Construction Incorporated has a 52-week low of $69.08 and a 52-week 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 company has a market capitalization of $4.70 billion, a P/E ratio of 35.11 and a beta of 1.41. The company has a fifty day moving average of $101.80 and a 200-day moving average of $89.15.

Granite Construction (NYSE:GVA) last released its quarterly earnings data 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 firm 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%. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.73 earnings per share. Granite Construction has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Granite Construction Incorporated will post 5.49 EPS for the current fiscal year.

Granite Construction Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Tuesday, September 30th. Granite Construction’s dividend payout ratio is currently 16.99%.

Insider Activity

In other Granite Construction news, Director Louis E. Caldera sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $110.16, for a total transaction of $165,240.00. Following the completion of the sale, the director directly owned 10,601 shares of the company’s stock, valued at approximately $1,167,806.16. This represents a 12.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael G. Tatusko sold 2,000 shares of the stock in a transaction on Thursday, August 21st. The stock was 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 directly owned 29,241 shares of the company’s stock, valued at approximately $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. Insiders sold 5,525 shares of company stock valued at $608,314 over the last three months. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Granite Construction from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell” and a consensus target price of $76.00.

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.