Hennessy Advisors Inc. cut its holdings in shares of Granite Construction Incorporated (NYSE:GVA – Free Report) by 3.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 324,900 shares of the construction company’s stock after selling 10,300 shares during the period. Granite Construction accounts for approximately 1.4% of Hennessy Advisors Inc.’s holdings, making the stock its 14th biggest holding. Hennessy Advisors Inc.’s holdings in Granite Construction were worth $37,659,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Vise Technologies Inc. raised its stake in shares of Granite Construction by 38.8% during the third quarter. Vise Technologies Inc. now owns 2,391 shares of the construction company’s stock worth $277,000 after buying an additional 668 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its holdings in Granite Construction by 5.7% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 20,500 shares of the construction company’s stock valued at $2,376,000 after buying an additional 1,100 shares during the period. D.A. Davidson & CO. lifted its holdings in Granite Construction by 10.2% in the third quarter. D.A. Davidson & CO. now owns 43,698 shares of the construction company’s stock valued at $5,065,000 after buying an additional 4,027 shares during the period. Balance Wealth Partners LLC bought a new position in Granite Construction in the third quarter valued at approximately $41,000. Finally, Oppenheimer & Co. Inc. boosted its stake in Granite Construction by 2.5% in the third quarter. Oppenheimer & Co. Inc. now owns 9,158 shares of the construction company’s stock valued at $1,062,000 after acquiring an additional 227 shares during the last quarter.
Granite Construction News Roundup
Here are the key news stories impacting Granite Construction this week:
- Positive Sentiment: Q3 earnings and revenue exceeded expectations. Granite reported adjusted earnings of $3.81 per share, above consensus estimates near $3.22–$3.29, while revenue rose 23.5% year over year to $1.77 billion, exceeding the $1.70 billion estimate. Granite Construction Q3 Adjusted Earnings, Revenue Rise
- Positive Sentiment: Record backlog strengthens forward visibility. Granite ended the quarter with a reported $7.5 billion backlog, supporting expectations for continued activity across its infrastructure and construction markets. Granite Construction GVA tops Q3 2026 estimates with record $7.5B backlog
- Positive Sentiment: Full-year guidance was updated to slightly exceed expectations. The revised outlook reinforces the view that Granite’s earnings momentum is continuing beyond the third quarter. Granite Construction Incorporated Updates Earnings Guidance for Fiscal Year 2026
- Positive Sentiment: Analyst valuation remains supportive. Granite Construction has a reported consensus price target of $158.50, materially above the recent trading level, suggesting analysts see additional upside if the company delivers on its outlook. Granite Construction Stock Has Consensus Price Target of $158.50
- Neutral Sentiment: The earnings-call transcript and presentation provide additional detail on Granite’s operating performance, backlog and guidance, but the principal market-moving information is already reflected in the earnings beat and outlook update. Granite Q3 2026 Earnings Call Transcript
Granite Construction Stock Up 0.0%
Granite Construction stock opened at $123.63 on Monday. The company’s 50 day simple moving average is $115.79 and its 200 day simple moving average is $126.39. Granite Construction Incorporated has a fifty-two week low of $97.26 and a fifty-two week high of $162.08. The firm has a market capitalization of $5.46 billion, a price-to-earnings ratio of -19.88 and a beta of 1.41. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.11 and a quick ratio of 1.02.
Granite Construction (NYSE:GVA – Get Free Report) last issued its earnings results on Thursday, October 29th. The construction company reported $3.81 EPS for the quarter, beating the consensus estimate of $3.27 by $0.54. Granite Construction had a negative net margin of 4.99% and a positive return on equity of 33.79%. The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the prior year, the firm earned $1.98 earnings per share. The business’s quarterly revenue was up 23.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Granite Construction Incorporated will post 6.36 EPS for the current year.
Granite Construction Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were issued a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.52 annualized dividend and a dividend yield of 0.4%. Granite Construction’s payout ratio is -8.36%.
Wall Street Analysts Forecast Growth
A number of research firms have commented on GVA. Oppenheimer lifted their target price on shares of Granite Construction from $170.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Weiss Ratings downgraded Granite Construction from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, September 2nd. The Goldman Sachs Group reduced their price target on Granite Construction from $139.00 to $119.00 and set a “sell” rating on the stock in a research report on Friday, July 31st. Finally, Wall Street Zen lowered Granite Construction from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $158.50.
Get Our Latest Research Report on Granite Construction
Insider Activity
In other news, Director Carlos M. Hernandez acquired 400 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was acquired at an average price of $123.99 per share, for a total transaction of $49,596.00. Following the transaction, the director directly owned 5,033 shares in the company, valued at approximately $624,041.67. This represents a 8.63% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.88% of the stock is owned by company insiders.
Granite Construction Profile
Granite Construction Incorporated (NYSE:GVA) is an infrastructure construction company that provides engineering, construction and rehabilitation services for public and private-sector clients. The company’s work supports transportation, water and other essential infrastructure projects across the United States.
Granite’s transportation activities include the construction and maintenance of highways, roads, bridges, airports, rail systems and other transit facilities. Its water-related services include the development and improvement of water treatment and distribution systems, wastewater facilities, dams, pipelines and related infrastructure.
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