Empower Advisory Group LLC Increases Stock Holdings in Granite Construction Incorporated $GVA

Empower Advisory Group LLC raised its stake in shares of Granite Construction Incorporated (NYSE:GVA) by 2.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 252,838 shares of the construction company’s stock after purchasing an additional 4,978 shares during the quarter. Empower Advisory Group LLC owned approximately 0.58% of Granite Construction worth $23,643,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Larson Financial Group LLC boosted its stake in shares of Granite Construction by 214.2% during the 1st quarter. Larson Financial Group LLC now owns 377 shares of the construction company’s stock valued at $28,000 after purchasing an additional 257 shares in the last quarter. CWM LLC lifted its holdings in Granite Construction by 26.5% in the first quarter. CWM LLC now owns 674 shares of the construction company’s stock worth $51,000 after buying an additional 141 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in Granite Construction during the 1st quarter valued at approximately $70,000. Cheviot Value Management LLC purchased a new position in shares of Granite Construction during the 1st quarter worth approximately $73,000. Finally, Penserra Capital Management LLC bought a new position in shares of Granite Construction in the 2nd quarter worth approximately $138,000.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on GVA shares. DA Davidson raised their target price on Granite Construction from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, November 11th. Wall Street Zen downgraded Granite Construction from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Zacks Research cut shares of Granite Construction from a “hold” rating to a “strong sell” rating in a report on Wednesday. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Granite Construction in a research report on Tuesday, October 14th. Two investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Granite Construction presently has an average rating of “Hold” and a consensus price target of $103.00.

Granite Construction Stock Down 0.2%

Shares of NYSE:GVA opened at $102.51 on Friday. 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 stock has a fifty day simple moving average of $105.96 and a two-hundred day simple moving average of $98.48. Granite Construction Incorporated has a 12-month low of $69.08 and a 12-month high of $112.16. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of 33.50 and a beta of 1.42.

Granite Construction (NYSE:GVA) last issued its quarterly earnings results on Thursday, November 6th. The construction company reported $2.70 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.14. The firm 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 revenue was up 12.1% on a year-over-year basis. During the same period last year, the company earned $2.05 earnings per share. Granite Construction has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Granite Construction Incorporated will post 5.49 earnings per share for the current fiscal year.

Granite Construction Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders 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 annualized dividend and a yield of 0.5%. Granite Construction’s payout ratio is 14.99%.

Insiders Place Their Bets

In other news, SVP Michael G. Tatusko sold 2,000 shares of the company’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 value of $220,000.00. Following the transaction, the senior vice president owned 29,241 shares in the company, valued at approximately $3,216,510. This represents a 6.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Brian R. Dowd sold 2,025 shares of the firm’s 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 $223,074.00. Following the sale, the senior vice president directly owned 14,685 shares of the company’s stock, valued at $1,617,699.60. This trade represents a 12.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 5,525 shares of company stock valued at $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.