Atria Investments Inc Invests $301,000 in Granite Construction Incorporated $GVA

Atria Investments Inc purchased a new position in shares of Granite Construction Incorporated (NYSE:GVA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,216 shares of the construction company’s stock, valued at approximately $301,000.

Several other large investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC lifted its position in Granite Construction by 214.2% in the first 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 period. CWM LLC raised its stake in shares of Granite Construction by 26.5% during the 1st quarter. CWM LLC now owns 674 shares of the construction company’s stock worth $51,000 after buying an additional 141 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Granite Construction in the 1st quarter valued at approximately $70,000. Cheviot Value Management LLC purchased a new stake in shares of Granite Construction in the first quarter valued at approximately $73,000. Finally, Moran Wealth Management LLC purchased a new stake in shares of Granite Construction in the second quarter valued at approximately $206,000.

Granite Construction Trading Down 0.2%

Shares of GVA opened at $102.35 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.57 and a quick ratio of 1.45. Granite Construction Incorporated has a 1-year low of $69.08 and a 1-year high of $112.16. The stock has a market cap of $4.48 billion, a price-to-earnings ratio of 33.45 and a beta of 1.42. The firm has a 50 day simple moving average of $106.18 and a 200-day simple moving average of $98.17.

Granite Construction (NYSE:GVA) last announced its earnings results on Thursday, November 6th. The construction company reported $2.70 EPS for the quarter, beating analysts’ consensus estimates of $2.56 by $0.14. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.51 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 12.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.05 EPS. Granite Construction has set its FY 2025 guidance at EPS. Equities analysts forecast that Granite Construction Incorporated will post 5.49 EPS for the current fiscal year.

Granite Construction Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors 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 dividend yield of 0.5%. Granite Construction’s dividend payout ratio (DPR) is presently 14.99%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on GVA shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Granite Construction in a research report on Tuesday, October 14th. Wall Street Zen cut shares of Granite Construction from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, DA Davidson raised their price objective on shares of Granite Construction from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $103.00.

Insider Buying and Selling

In other news, Director Louis E. Caldera sold 1,500 shares of the business’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 value of $165,240.00. Following the completion of the transaction, the director owned 10,601 shares of the company’s stock, valued at $1,167,806.16. The trade was a 12.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Michael G. Tatusko sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $110.00, for a total transaction 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 position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 5,525 shares of company stock worth $608,314. 1.00% of the stock is owned by corporate insiders.

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.