Strs Ohio Makes New $1.07 Million Investment in Granite Construction Incorporated $GVA

Strs Ohio bought a new position in Granite Construction Incorporated (NYSE:GVA) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 14,200 shares of the construction company’s stock, valued at approximately $1,071,000.

A number of other hedge funds have also added to or reduced their stakes in GVA. Focus Partners Wealth bought a new stake in Granite Construction in the fourth quarter worth approximately $214,000. Nuveen Asset Management LLC grew its stake in Granite Construction by 128.2% in the fourth quarter. Nuveen Asset Management LLC now owns 279,504 shares of the construction company’s stock valued at $24,515,000 after acquiring an additional 157,047 shares during the period. ProShare Advisors LLC grew its stake in Granite Construction by 44.5% in the fourth quarter. ProShare Advisors LLC now owns 13,265 shares of the construction company’s stock valued at $1,163,000 after acquiring an additional 4,083 shares during the period. Point72 Asset Management L.P. acquired a new stake in Granite Construction in the fourth quarter valued at approximately $1,465,000. Finally, Two Sigma Advisers LP acquired a new stake in Granite Construction in the fourth quarter valued at approximately $992,000.

Granite Construction Trading Up 1.8%

Shares of Granite Construction stock opened at $109.56 on Friday. The stock has a fifty day simple moving average of $103.01 and a 200 day simple moving average of $89.89. Granite Construction Incorporated has a 12-month low of $69.08 and a 12-month high of $112.16. The company has a market capitalization of $4.80 billion, a P/E ratio of 35.80 and a beta of 1.41. The company has a current ratio of 1.57, a quick ratio of 1.45 and a debt-to-equity ratio of 0.66.

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

Granite Construction Dividend Announcement

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

Insider Buying and Selling

In other Granite Construction news, Director Louis E. Caldera sold 1,500 shares of the business’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $110.16, for a total value of $165,240.00. Following the transaction, the director 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael G. Tatusko sold 2,000 shares of the business’s stock in a transaction 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 completion of the transaction, the senior vice president directly owned 29,241 shares in the company, valued at approximately $3,216,510. This represents a 6.40% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,525 shares of company stock worth $608,314. 1.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised 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, Granite Construction has a consensus rating of “Sell” and a consensus price target of $76.00.

Granite Construction 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.