Savant Capital LLC Purchases Shares of 4,955 Granite Construction Incorporated $GVA

Savant Capital LLC acquired 4,955 shares of Granite Construction Inc. in Q2, valued at $463,000. Other institutional investors, including Nuveen LLC and Conversant Capital LLC, also increased their stakes. Analysts have mixed ratings on Granite Construction, with a consensus 'Hold' rating and a $103 average price target. The company reported strong Q3 earnings, with a 12.1% revenue increase year-over-year. Granite Construction's stock performance shows a 12-month high of $112.16 and a low of $69.08, with a market cap of $4.47 billion.

Savant Capital LLC purchased a new position in shares of Granite Construction Incorporated (NYSE:GVA - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,955 shares of the construction company's stock, valued at approximately $463,000.

Several other hedge funds and other institutional investors have also modified their holdings of GVA. Nuveen LLC purchased a new stake in shares of Granite Construction during the 1st quarter worth about $21,966,000. Conversant Capital LLC acquired a new position in Granite Construction during the first quarter valued at approximately $21,490,000. RPG Investment Advisory LLC lifted its position in Granite Construction by 106.6% during the first quarter. RPG Investment Advisory LLC now owns 472,566 shares of the construction company's stock valued at $35,632,000 after buying an additional 243,875 shares in the last quarter. Cubist Systematic Strategies LLC grew its stake in Granite Construction by 95.2% during the first quarter. Cubist Systematic Strategies LLC now owns 454,501 shares of the construction company's stock worth $34,269,000 after buying an additional 221,709 shares during the period. Finally, Mizuho Markets Cayman LP acquired a new stake in shares of Granite Construction in the second quarter worth $18,702,000.

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Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on GVA shares. Weiss Ratings restated a "buy (b-)" rating on shares of Granite Construction in a report on Tuesday, October 14th. DA Davidson raised their price objective on Granite Construction from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Tuesday, November 11th. Zacks Research cut Granite Construction from a "hold" rating to a "strong sell" rating in a research note on Wednesday, November 12th. Finally, Wall Street Zen lowered Granite Construction from a "buy" rating to a "hold" rating in a research note on Saturday, November 8th. Two research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Granite Construction currently has a consensus rating of "Hold" and an average price target of $103.00.

View Our Latest Research Report on Granite Construction

Granite Construction Stock Performance

Granite Construction stock opened at $102.51 on Monday. Granite Construction Incorporated has a 12-month low of $69.08 and a 12-month high of $112.16. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of 33.50 and a beta of 1.42. 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 firm's fifty day moving average price is $105.96 and its 200 day moving average price is $98.60.

Granite Construction (NYSE:GVA - Get Free Report) last posted its quarterly earnings data on Thursday, November 6th. The construction company reported $2.70 earnings per share for the quarter, beating analysts' consensus estimates of $2.56 by $0.14. The company had revenue of $1.43 billion during the quarter, compared to analysts' expectations of $1.51 billion. Granite Construction had a net margin of 3.89% and a return on equity of 21.64%. The firm's revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.05 EPS. Granite Construction has set its FY 2025 guidance at EPS. On average, research analysts forecast that Granite Construction Incorporated will post 5.49 EPS for the current fiscal year.

Granite Construction Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a $0.13 dividend. 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 dividend payout ratio is currently 14.99%.

Insider Buying and Selling at Granite Construction

In other news, SVP Michael G. Tatusko sold 2,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president directly owned 29,241 shares in the company, valued at approximately $3,216,510. This represents a 6.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Louis E. Caldera sold 1,500 shares of the firm'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 $165,240.00. Following the sale, the director directly owned 10,601 shares of the company's stock, valued at $1,167,806.16. The trade was a 12.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 5,525 shares of company stock worth $608,314 in the last 90 days. 1.00% of the stock is owned by corporate insiders.

About Granite Construction

(Free Report)

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.

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