Callan Family Office LLC Makes New Investment in Granite Construction Incorporated $GVA

Callan Family Office LLC purchased a new position in shares of Granite Construction Incorporated (NYSE:GVA) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,656 shares of the construction company’s stock, valued at approximately $248,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. SG Americas Securities LLC acquired a new stake in Granite Construction during the 1st quarter worth $309,000. Blue Trust Inc. grew its holdings in shares of Granite Construction by 40.5% during the first quarter. Blue Trust Inc. now owns 781 shares of the construction company’s stock worth $59,000 after purchasing an additional 225 shares during the last quarter. Asset Management One Co. Ltd. increased its position in shares of Granite Construction by 16.6% during the first quarter. Asset Management One Co. Ltd. now owns 64,952 shares of the construction company’s stock worth $4,897,000 after purchasing an additional 9,255 shares in the last quarter. Golden State Wealth Management LLC increased its position in shares of Granite Construction by 133.3% during the first quarter. Golden State Wealth Management LLC now owns 10,211 shares of the construction company’s stock worth $770,000 after purchasing an additional 5,835 shares in the last quarter. Finally, Illinois Municipal Retirement Fund lifted its holdings in shares of Granite Construction by 4.1% in the 1st quarter. Illinois Municipal Retirement Fund now owns 24,721 shares of the construction company’s stock valued at $1,864,000 after purchasing an additional 974 shares during the last quarter.

Insider Buying and Selling

In related news, SVP Brian R. Dowd sold 2,025 shares of Granite Construction stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $110.16, for a total value of $223,074.00. Following the transaction, the senior vice president owned 14,685 shares in the company, valued at approximately $1,617,699.60. This trade represents a 12.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Louis E. Caldera sold 1,500 shares of Granite Construction stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $110.16, for a total transaction of $165,240.00. Following the transaction, the director directly owned 10,601 shares in the company, valued at approximately $1,167,806.16. This trade represents a 12.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,525 shares of company stock worth $608,314. 1.00% of the stock is owned by company insiders.

Granite Construction Price Performance

Shares of NYSE:GVA opened at $105.58 on Friday. 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 fifty day moving average price is $108.47 and its two-hundred day moving average price is $94.39. The stock has a market cap of $4.62 billion, a PE ratio of 34.50 and a beta of 1.39. Granite Construction Incorporated has a one year low of $69.08 and a one year high of $112.16.

Granite Construction (NYSE:GVA) last posted its quarterly earnings data on Thursday, August 7th. The construction company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.16. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.16 billion. Granite Construction had a net margin of 3.89% and a return on equity of 21.64%. The company’s revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.73 earnings per share. Granite Construction has set its FY 2025 guidance at EPS. On average, analysts forecast that Granite Construction Incorporated will post 5.49 EPS for the current fiscal year.

Granite Construction Dividend Announcement

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

Analyst Ratings Changes

GVA has been the topic of a number of research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Granite Construction in a report on Tuesday. Wall Street Zen raised Granite Construction from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Granite Construction presently has a consensus rating of “Hold” and an average target price of $76.00.

Granite Construction 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.