EFG Asset Management North America Corp. Buys 5,772 Shares of Granite Construction Incorporated $GVA

EFG Asset Management North America Corp. lifted its holdings in Granite Construction Incorporated (NYSE:GVA) by 10.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 59,298 shares of the construction company’s stock after acquiring an additional 5,772 shares during the quarter. EFG Asset Management North America Corp. owned 0.14% of Granite Construction worth $5,548,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Larson Financial Group LLC lifted its holdings in Granite Construction by 214.2% in the first quarter. Larson Financial Group LLC now owns 377 shares of the construction company’s stock valued at $28,000 after acquiring an additional 257 shares during the last quarter. CWM LLC grew its position in Granite Construction by 26.5% during the 1st quarter. CWM LLC now owns 674 shares of the construction company’s stock worth $51,000 after purchasing an additional 141 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Granite Construction during the first quarter worth about $70,000. Cheviot Value Management LLC acquired a new stake in shares of Granite Construction during the first quarter valued at $73,000. Finally, Moran Wealth Management LLC acquired a new position in shares of Granite Construction in the second quarter valued at approximately $206,000.

Granite Construction Trading Up 0.2%

GVA opened at $102.71 on Wednesday. The firm’s fifty day moving average is $107.02 and its two-hundred day moving average is $97.34. The firm has a market cap of $4.50 billion, a PE ratio of 33.56 and a beta of 1.42. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.45 and a current ratio of 1.57. Granite Construction Incorporated has a twelve month low of $69.08 and a twelve month high of $112.16.

Granite Construction (NYSE:GVA) last announced its earnings results on Thursday, August 7th. The construction company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.77 by $0.16. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.16 billion. Granite Construction had a net margin of 3.89% and a return on equity of 21.64%. Granite Construction’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.73 EPS. 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 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 issued a dividend of $0.13 per share. The ex-dividend date was Tuesday, September 30th. This represents a $0.52 annualized dividend and a yield of 0.5%. Granite Construction’s payout ratio is 16.99%.

Insider Buying and Selling

In related news, Director Louis E. Caldera sold 1,500 shares of the business’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $110.16, for a total transaction of $165,240.00. Following the transaction, the director owned 10,601 shares in the company, valued at $1,167,806.16. The trade was a 12.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Brian R. Dowd sold 2,025 shares of the company’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $110.16, for a total transaction of $223,074.00. Following the completion of the transaction, the senior vice president owned 14,685 shares in the company, valued at approximately $1,617,699.60. This represents a 12.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 5,525 shares of company stock worth $608,314. 1.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GVA. Wall Street Zen upgraded 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 report on Tuesday, October 14th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $76.00.

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.