Campbell & CO Investment Adviser LLC Decreases Stake in Granite Construction Incorporated $GVA

Campbell & CO Investment Adviser LLC lessened its holdings in shares of Granite Construction Incorporated (NYSE:GVA - Free Report) by 86.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,758 shares of the construction company's stock after selling 23,192 shares during the quarter. Campbell & CO Investment Adviser LLC's holdings in Granite Construction were worth $351,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Larson Financial Group LLC boosted its stake in Granite Construction by 214.2% in the 1st quarter. Larson Financial Group LLC now owns 377 shares of the construction company's stock worth $28,000 after purchasing an additional 257 shares during the period. CWM LLC increased its position in shares of Granite Construction by 26.5% during the first quarter. CWM LLC now owns 674 shares of the construction company's stock valued at $51,000 after buying an additional 141 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Granite Construction in the first quarter worth about $70,000. Cheviot Value Management LLC bought a new position in shares of Granite Construction in the first quarter valued at approximately $73,000. Finally, Penserra Capital Management LLC purchased a new position in Granite Construction during the second quarter valued at approximately $138,000.

Granite Construction Stock Performance

Shares of NYSE GVA opened at $102.51 on Monday. The stock has a market cap of $4.47 billion, a price-to-earnings ratio of 33.50 and a beta of 1.42. The company has a current ratio of 1.57, a quick ratio of 1.45 and a debt-to-equity ratio of 0.66. Granite Construction Incorporated has a 1-year low of $69.08 and a 1-year high of $112.16. The stock's 50-day moving average is $105.96 and its 200 day moving average is $98.60.

Granite Construction (NYSE:GVA - Get Free Report) last announced its quarterly earnings data on Thursday, November 6th. The construction company reported $2.70 earnings per share (EPS) 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 was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.05 EPS. Granite Construction has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate 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. Stockholders of record on Tuesday, September 30th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Tuesday, September 30th. Granite Construction's dividend payout ratio is 14.99%.

Analyst Upgrades and Downgrades

GVA has been the topic of a number of analyst reports. Zacks Research lowered shares of Granite Construction from a "hold" rating to a "strong sell" rating in a report on Wednesday, November 12th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Granite Construction in a report on Tuesday, October 14th. DA Davidson lifted their price objective on Granite Construction from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Tuesday, November 11th. Finally, Wall Street Zen lowered Granite Construction from a "buy" rating to a "hold" rating in a research note on Saturday, November 8th. Two analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $103.00.

Check Out Our Latest Analysis on GVA

Insider Transactions at Granite Construction

In other Granite Construction news, 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 completion of the sale, the senior vice president owned 14,685 shares of the company's stock, valued at $1,617,699.60. This represents a 12.12% decrease in their position. The sale 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 business's stock in a transaction dated Thursday, August 21st. The shares were 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 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. Over the last 90 days, insiders have sold 5,525 shares of company stock worth $608,314. Insiders own 1.00% of the company's stock.

About Granite Construction

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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