City Center Advisors LLC Sells 471 Shares of Granite Construction Incorporated $GVA

City Center Advisors LLC reduced its stake in Granite Construction Incorporated (NYSE:GVA) by 15.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,651 shares of the construction company’s stock after selling 471 shares during the quarter. City Center Advisors LLC’s holdings in Granite Construction were worth $248,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Voya Investment Management LLC raised its holdings in Granite Construction by 11.3% in the 1st quarter. Voya Investment Management LLC now owns 238,980 shares of the construction company’s stock worth $18,019,000 after purchasing an additional 24,203 shares during the period. Strs Ohio purchased a new stake in Granite Construction in the 1st quarter worth $1,071,000. Intech Investment Management LLC increased its stake in Granite Construction by 8.3% in the 1st quarter. Intech Investment Management LLC now owns 45,731 shares of the construction company’s stock worth $3,448,000 after buying an additional 3,516 shares in the last quarter. Bayforest Capital Ltd increased its stake in Granite Construction by 208.6% in the 1st quarter. Bayforest Capital Ltd now owns 9,212 shares of the construction company’s stock worth $695,000 after buying an additional 6,227 shares in the last quarter. Finally, SCS Capital Management LLC purchased a new stake in Granite Construction in the 1st quarter worth $265,000.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Granite Construction from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell” and an average price target of $76.00.

Insider Activity

In other 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 transaction of $165,240.00. Following the completion of the transaction, the director owned 10,601 shares in the company, valued at $1,167,806.16. This trade represents a 12.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Michael G. Tatusko sold 2,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $3,216,510. The trade was a 6.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,525 shares of company stock worth $608,314 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Granite Construction Trading Down 2.0%

Shares of Granite Construction stock opened at $107.43 on Friday. The firm has a market cap of $4.70 billion, a price-to-earnings ratio of 35.11 and a beta of 1.41. The business has a 50-day moving average price of $101.80 and a 200-day moving average price of $89.19. The company has a quick ratio of 1.45, a current ratio of 1.57 and a debt-to-equity ratio of 0.66. Granite Construction Incorporated has a twelve month low of $69.08 and a twelve month high of $112.16.

Granite Construction (NYSE:GVA) last issued 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 firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.16 billion. Granite Construction had a return on equity of 21.64% and a net margin of 3.89%.The business’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.73 earnings per share. Granite Construction has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Granite Construction Incorporated will post 5.49 EPS for the current fiscal year.

Granite Construction Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.13 per share. The ex-dividend date is 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 presently 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.