Moran Wealth Management LLC Buys New Shares in Granite Construction Incorporated $GVA

Moran Wealth Management LLC bought a new stake in Granite Construction Incorporated (NYSE:GVA) during the second quarter, HoldingsChannel reports. The firm bought 2,208 shares of the construction company’s stock, valued at approximately $206,000.

Other institutional investors have also recently made changes to their positions in the company. Hill City Capital LP increased its holdings in Granite Construction by 1.1% during the first quarter. Hill City Capital LP now owns 1,060,048 shares of the construction company’s stock worth $79,928,000 after buying an additional 11,110 shares during the last quarter. Invesco Ltd. increased its stake in shares of Granite Construction by 12.4% during the 1st quarter. Invesco Ltd. now owns 652,759 shares of the construction company’s stock worth $49,218,000 after purchasing an additional 72,175 shares during the last quarter. Mizuho Markets Americas LLC increased its stake in shares of Granite Construction by 22.7% during the 1st quarter. Mizuho Markets Americas LLC now owns 607,269 shares of the construction company’s stock worth $45,788,000 after purchasing an additional 112,371 shares during the last quarter. Boston Partners increased its position in Granite Construction by 0.5% during the first 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 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 worth $35,632,000 after buying an additional 243,875 shares during the last quarter.

Insider Buying and Selling at Granite Construction

In related news, Director Louis E. Caldera sold 1,500 shares of the firm’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $110.16, for a total value 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. This trade represents a 12.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Michael G. Tatusko sold 2,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the senior vice president owned 29,241 shares in the company, valued at approximately $3,216,510. The trade was a 6.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,525 shares of company stock valued at $608,314. 1.00% of the stock is currently owned by corporate insiders.

Granite Construction Price Performance

Granite Construction stock opened at $105.05 on Friday. Granite Construction Incorporated has a 12 month low of $69.08 and a 12 month high of $112.16. The stock’s 50 day moving average is $108.45 and its 200-day moving average is $94.59. The company has a current ratio of 1.57, a quick ratio of 1.45 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $4.60 billion, a price-to-earnings ratio of 34.33 and a beta of 1.39.

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

Granite Construction Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a dividend of $0.13 per share. The ex-dividend date was 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%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Granite Construction in a research report on Tuesday. Wall Street Zen raised Granite Construction from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus 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.