Mutual of America Capital Management LLC Sells 706 Shares of Granite Construction Incorporated $GVA

Mutual of America Capital Management LLC lowered its stake in Granite Construction Incorporated (NYSE:GVA) by 11.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,619 shares of the construction company’s stock after selling 706 shares during the period. Mutual of America Capital Management LLC’s holdings in Granite Construction were worth $525,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GVA. Larson Financial Group LLC increased its position in shares of Granite Construction by 214.2% during the 1st quarter. Larson Financial Group LLC now owns 377 shares of the construction company’s stock valued at $28,000 after purchasing an additional 257 shares during the last quarter. CWM LLC grew its holdings in shares of Granite Construction by 26.5% in the first 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. Caitong International Asset Management Co. Ltd bought a new position in shares of Granite Construction in the 1st quarter valued at about $70,000. Cheviot Value Management LLC bought a new stake in Granite Construction during the first quarter worth approximately $73,000. Finally, Moran Wealth Management LLC purchased a new position in Granite Construction during the second quarter worth $206,000.

Insider Buying and Selling at Granite Construction

In other news, 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 value of $165,240.00. Following the transaction, the director owned 10,601 shares of the company’s stock, valued at $1,167,806.16. This represents a 12.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Brian R. Dowd sold 2,025 shares of the company’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 $223,074.00. Following the completion of the transaction, the senior vice president owned 14,685 shares in the company, valued at approximately $1,617,699.60. This represents a 12.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,525 shares of company stock worth $608,314 over the last quarter. 1.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on GVA shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Granite Construction in a research note on Tuesday, October 14th. Wall Street Zen raised Granite Construction from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $76.00.

Granite Construction Stock Down 0.6%

Granite Construction stock opened at $103.90 on Tuesday. Granite Construction Incorporated has a 12 month low of $69.08 and a 12 month high of $112.16. The business has a 50 day simple moving average of $107.85 and a 200-day simple moving average of $96.14. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.57 and a quick ratio of 1.45. The stock has a market capitalization of $4.55 billion, a PE ratio of 33.95 and a beta of 1.39.

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

Granite Construction Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $0.52 dividend on an annualized basis and a yield of 0.5%. Granite Construction’s payout ratio is 16.99%.

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.