Granite Construction (NYSE:GVA) Releases Earnings Results

Granite Construction (NYSE:GVA) announced its quarterly earnings data on Thursday. The construction company reported $2.70 EPS for the quarter, topping analysts’ consensus estimates of $2.56 by $0.14, Zacks reports. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.51 billion. Granite Construction had a return on equity of 21.64% and a net margin of 3.89%.The company’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the company earned $2.05 EPS. Granite Construction updated its FY 2025 guidance to EPS.

Granite Construction Price Performance

Shares of NYSE:GVA traded down $3.06 during midday trading on Thursday, hitting $99.70. The company’s stock had a trading volume of 1,316,913 shares, compared to its average volume of 625,530. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.45 and a current ratio of 1.57. The business’s 50 day simple moving average is $106.88 and its 200 day simple moving average is $97.38. Granite Construction has a 12-month low of $69.08 and a 12-month high of $112.16. The company has a market cap of $4.37 billion, a P/E ratio of 32.58 and a beta of 1.42.

Granite Construction Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Tuesday, September 30th. Granite Construction’s dividend payout ratio (DPR) is currently 16.99%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Granite Construction in a report on Tuesday, October 14th. Wall Street Zen upgraded shares of 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 Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $76.00.

Insiders Place Their Bets

In other news, Director Louis E. Caldera sold 1,500 shares of the company’s stock in a transaction 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 in the company, valued at approximately $1,167,806.16. This represents a 12.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Michael G. Tatusko sold 2,000 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $110.00, for a total transaction of $220,000.00. Following the sale, the senior vice president owned 29,241 shares of the company’s stock, valued at approximately $3,216,510. This represents a 6.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 5,525 shares of company stock valued at $608,314 over the last ninety days. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Granite Construction

Large investors have recently bought and sold shares of the company. Evergreen Capital Management LLC boosted its position in shares of Granite Construction by 4.5% in the second quarter. Evergreen Capital Management LLC now owns 2,813 shares of the construction company’s stock worth $263,000 after acquiring an additional 120 shares during the last quarter. State of Tennessee Department of Treasury boosted its position in shares of Granite Construction by 14.0% in the second quarter. State of Tennessee Department of Treasury now owns 15,456 shares of the construction company’s stock worth $1,445,000 after acquiring an additional 1,900 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Granite Construction by 68.3% in the second quarter. Tower Research Capital LLC TRC now owns 5,499 shares of the construction company’s stock worth $514,000 after acquiring an additional 2,231 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in shares of Granite Construction in the second quarter worth approximately $229,000. Finally, Envestnet Asset Management Inc. raised its holdings in Granite Construction by 110.9% in the third quarter. Envestnet Asset Management Inc. now owns 5,106 shares of the construction company’s stock valued at $560,000 after buying an additional 2,685 shares during the period.

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.