Key Points
- Director Celeste Beeks Mastin sold 7,614 shares at an average price of $105.23 for $801,221, leaving her with 10,206 shares — a 42.73% reduction in her position.
- Granite's latest quarter showed an EPS beat at $2.70 versus $2.56 expected, but revenue missed at $1.43B versus $1.51B expected, with revenue up 12.1% year‑over‑year.
- Institutional activity and analyst views are mixed: Mizuho dramatically increased its stake to 1,339,818 shares, while the consensus rating is a "Hold" with a $119.50 price target.
Granite Construction Incorporated (NYSE:GVA - Get Free Report) Director Celeste Beeks Mastin sold 7,614 shares of the stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $105.23, for a total transaction of $801,221.22. Following the completion of the transaction, the director owned 10,206 shares of the company's stock, valued at $1,073,977.38. This represents a 42.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Granite Construction Stock Up 0.8%
Shares of NYSE GVA opened at $104.71 on Tuesday. The stock has a market capitalization of $4.57 billion, a price-to-earnings ratio of 34.22 and a beta of 1.42. Granite Construction Incorporated has a 52 week low of $69.08 and a 52 week high of $112.16. The firm has a 50-day moving average price of $105.31 and a 200 day moving average price of $99.50. 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 (NYSE:GVA - Get Free Report) last issued its earnings results on Thursday, November 6th. The construction company reported $2.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.56 by $0.14. Granite Construction had a net margin of 3.89% and a return on equity of 21.64%. The company had revenue of $1.43 billion during the quarter, compared to analysts' expectations of $1.51 billion. During the same period last year, the company posted $2.05 earnings per share. The firm's quarterly revenue was up 12.1% compared to the same quarter last year. 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 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 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 currently 14.99%.
Institutional Investors Weigh In On Granite Construction
Hedge funds have recently modified their holdings of the company. Mizuho Markets Cayman LP grew its holdings in shares of Granite Construction by 569.9% during the third quarter. Mizuho Markets Cayman LP now owns 1,339,818 shares of the construction company's stock worth $151,064,000 after buying an additional 1,139,818 shares in the last quarter. Nuveen LLC acquired a new stake in Granite Construction during the first quarter worth approximately $21,966,000. Conversant Capital LLC purchased a new stake in Granite Construction in the 1st quarter worth approximately $21,490,000. Norges Bank acquired a new position in Granite Construction in the 2nd quarter valued at $24,812,000. Finally, Qube Research & Technologies Ltd raised its holdings in Granite Construction by 87.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 556,054 shares of the construction company's stock valued at $60,971,000 after acquiring an additional 259,477 shares during the last quarter.
Wall Street Analysts Forecast Growth
A number of research firms have commented on GVA. Wall Street Zen downgraded Granite Construction from a "buy" rating to a "hold" rating in a research report on Saturday. DA Davidson boosted their price objective on shares of Granite Construction from $125.00 to $130.00 and gave the stock a "buy" rating in a research report on Tuesday, November 11th. Zacks Research cut shares of Granite Construction from a "hold" rating to a "strong sell" rating in a research note on Wednesday, November 12th. Weiss Ratings restated a "buy (b)" rating on shares of Granite Construction in a research report on Monday, November 17th. Finally, The Goldman Sachs Group started coverage on shares of Granite Construction in a research note on Monday. They set a "neutral" rating and a $109.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $119.50.
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Granite Construction Company Profile
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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.
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