Intech Investment Management LLC Has $3.45 Million Stock Position in Granite Construction Incorporated $GVA

Intech Investment Management LLC raised its stake in shares of Granite Construction Incorporated (NYSE:GVA) by 8.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 45,731 shares of the construction company’s stock after purchasing an additional 3,516 shares during the period. Intech Investment Management LLC owned 0.10% of Granite Construction worth $3,448,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Nuveen LLC acquired a new stake in shares of Granite Construction in the first quarter valued at about $21,966,000. Conversant Capital LLC bought a new stake in Granite Construction in the first quarter valued at approximately $21,490,000. RPG Investment Advisory LLC increased its position in Granite Construction by 106.6% during the 1st 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 period. Cubist Systematic Strategies LLC increased its position in Granite Construction by 95.2% during the 1st quarter. Cubist Systematic Strategies LLC now owns 454,501 shares of the construction company’s stock valued at $34,269,000 after purchasing an additional 221,709 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Granite Construction by 7,509.2% during the 1st quarter. GAMMA Investing LLC now owns 165,729 shares of the construction company’s stock worth $12,496,000 after purchasing an additional 163,551 shares during the last quarter.

Analysts Set New Price Targets

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

Granite Construction Stock Down 2.0%

Granite Construction stock opened at $107.43 on Friday. The company has a market capitalization of $4.70 billion, a PE ratio of 35.11 and a beta of 1.41. Granite Construction Incorporated has a 12-month low of $69.08 and a 12-month high of $112.16. The firm’s fifty day moving average is $101.80 and its 200 day moving average is $89.19. The company has a quick ratio of 1.45, a current ratio of 1.57 and a debt-to-equity ratio of 0.66.

Granite Construction (NYSE:GVA) last posted its quarterly earnings results on Thursday, August 7th. The construction company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the company posted $1.73 earnings per share. The business’s quarterly revenue was up 4.4% on a year-over-year basis. Granite Construction has set its FY 2025 guidance at EPS. As a group, sell-side 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 given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Tuesday, September 30th. Granite Construction’s dividend payout ratio is presently 16.99%.

Insider Buying and Selling

In related news, SVP Brian R. Dowd sold 2,025 shares of Granite Construction stock in a transaction 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 completion of the sale, the senior vice president owned 14,685 shares of the company’s stock, valued at approximately $1,617,699.60. This trade represents a 12.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Louis E. Caldera sold 1,500 shares of the company’s stock in a transaction 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 owned 10,601 shares in the company, valued at approximately $1,167,806.16. The trade was a 12.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,525 shares of company stock worth $608,314 in the last ninety days. 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.