Moran Wealth Management LLC Purchases New Position in Granite Construction Incorporated $GVA

Moran Wealth Management LLC bought a new stake in Granite Construction Incorporated (NYSE:GVA) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 2,208 shares of the construction company’s stock, valued at approximately $206,000.

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

Insider Transactions at Granite Construction

In related news, SVP Brian R. Dowd sold 2,025 shares of the firm’s 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 sale, the senior vice president directly owned 14,685 shares in the company, valued at $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 SEC, which is available at this hyperlink. Also, SVP Michael G. Tatusko sold 2,000 shares of the firm’s stock in a transaction 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 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. Insiders have sold a total of 5,525 shares of company stock valued at $608,314 over the last 90 days. 1.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on GVA shares. Wall Street Zen raised Granite Construction from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Granite Construction in a research report on Tuesday. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $76.00.

Granite Construction Stock Down 0.5%

NYSE:GVA opened at $105.05 on Friday. The stock’s fifty day moving average price is $108.45 and its two-hundred day moving average price is $94.59. Granite Construction Incorporated has a 52-week low of $69.08 and a 52-week high of $112.16. 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 company has a market cap 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 quarterly earnings results on Thursday, August 7th. The construction company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.16. Granite Construction had a return on equity of 21.64% and a net margin of 3.89%.The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter last year, the business earned $1.73 earnings per share. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. Granite Construction has set its FY 2025 guidance at EPS. On average, analysts anticipate that Granite Construction Incorporated will post 5.49 EPS for the current year.

Granite Construction Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.5%. Granite Construction’s dividend payout ratio (DPR) is currently 16.99%.

Granite Construction Company 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.