Wealth Enhancement Advisory Services LLC Has $450,000 Stake in Granite Construction Incorporated $GVA

Wealth Enhancement Advisory Services LLC lifted its stake in shares of Granite Construction Incorporated (NYSE:GVA) by 23.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,796 shares of the construction company’s stock after acquiring an additional 907 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Granite Construction were worth $450,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of GVA. Larson Financial Group LLC grew its holdings in Granite Construction by 214.2% in the first quarter. Larson Financial Group LLC now owns 377 shares of the construction company’s stock worth $28,000 after purchasing an additional 257 shares during the period. CWM LLC grew 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 buying an additional 141 shares during the period. Blue Trust Inc. increased its position in 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 buying an additional 225 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Granite Construction during the 1st quarter worth approximately $70,000. Finally, Cheviot Value Management LLC acquired a new position in Granite Construction during the 1st quarter worth approximately $73,000.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GVA. Weiss Ratings reissued a “buy (b)” rating on shares of Granite Construction in a research note on Saturday, September 27th. Wall Street Zen upgraded Granite Construction from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $76.00.

Granite Construction Price Performance

Granite Construction stock opened at $108.25 on Tuesday. Granite Construction Incorporated has a 52 week low of $69.08 and a 52 week high of $112.16. The company’s 50 day moving average price is $106.63 and its two-hundred day moving average price is $92.99. The stock has a market cap of $4.74 billion, a P/E ratio of 35.38 and a beta of 1.39. 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 released its earnings results on Thursday, August 7th. The construction company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.16. The company had revenue of $1.13 billion during 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 quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.73 earnings per share. Granite Construction has set its FY 2025 guidance at EPS. On average, equities analysts predict that Granite Construction Incorporated will post 5.49 earnings per share for the current year.

Granite Construction Announces Dividend

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 $0.13 dividend. 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 payout ratio is 16.99%.

Insider Activity at Granite Construction

In other Granite Construction news, SVP Michael G. Tatusko sold 2,000 shares of the business’s stock in a transaction dated Thursday, August 21st. The shares were 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. The trade was a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Louis E. Caldera sold 1,500 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 transaction of $165,240.00. Following the transaction, the director directly owned 10,601 shares of the company’s stock, valued at $1,167,806.16. This represents a 12.40% decrease in their ownership of the stock. 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 company insiders.

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.