Robbins Farley Boosts Holdings in Granite Construction Incorporated $GVA

Robbins Farley boosted its position in Granite Construction Incorporated (NYSE:GVA) by 0.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,184 shares of the construction company’s stock after purchasing an additional 250 shares during the quarter. Granite Construction comprises 2.3% of Robbins Farley’s investment portfolio, making the stock its 17th biggest position. Robbins Farley owned about 0.12% of Granite Construction worth $4,973,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Hill City Capital LP lifted its stake in Granite Construction by 1.1% in the 1st quarter. Hill City Capital LP now owns 1,060,048 shares of the construction company’s stock worth $79,928,000 after purchasing an additional 11,110 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Granite Construction by 12.4% in the 1st quarter. Invesco Ltd. now owns 652,759 shares of the construction company’s stock worth $49,218,000 after buying an additional 72,175 shares during the last quarter. Mizuho Markets Americas LLC increased its holdings in shares of Granite Construction by 22.7% in the 1st quarter. Mizuho Markets Americas LLC now owns 607,269 shares of the construction company’s stock worth $45,788,000 after buying an additional 112,371 shares during the last quarter. Boston Partners increased its holdings in shares of Granite Construction by 0.5% in the 1st quarter. Boston Partners now owns 587,209 shares of the construction company’s stock worth $44,392,000 after buying an additional 2,811 shares during the last quarter. Finally, RPG Investment Advisory LLC increased its holdings in shares of Granite Construction by 106.6% in the 1st quarter. RPG Investment Advisory LLC now owns 472,566 shares of the construction company’s stock worth $35,632,000 after buying an additional 243,875 shares during the last quarter.

Analyst Ratings Changes

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

Insider Activity at Granite Construction

In related news, SVP Michael G. Tatusko sold 2,000 shares of the stock in a transaction 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 owned 29,241 shares of the company’s stock, valued at approximately $3,216,510. This trade represents a 6.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Brian R. Dowd sold 2,025 shares of the stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $110.16, for a total transaction of $223,074.00. Following the transaction, the senior vice president directly owned 14,685 shares in the company, valued at approximately $1,617,699.60. This represents a 12.12% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,525 shares of company stock valued at $608,314. Insiders own 1.00% of the company’s stock.

Granite Construction Price Performance

GVA stock opened at $109.03 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.45 and a current ratio of 1.57. Granite Construction Incorporated has a 52 week low of $69.08 and a 52 week high of $112.16. The firm’s fifty day moving average is $105.26 and its 200 day moving average is $91.81. The firm has a market cap of $4.77 billion, a P/E ratio of 35.63 and a beta of 1.41.

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

Granite Construction Announces Dividend

The firm also recently announced 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 of this dividend is Tuesday, September 30th. This represents a $0.52 annualized dividend and a dividend yield of 0.5%. Granite Construction’s dividend payout ratio (DPR) is currently 16.99%.

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.