Granite Construction Incorporated $GVA Shares Bought by Fiduciary Financial Group LLC

Fiduciary Financial Group LLC grew its holdings in Granite Construction Incorporated (NYSE:GVA) by 574.6% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 15,886 shares of the construction company’s stock after buying an additional 13,531 shares during the period. Fiduciary Financial Group LLC’s holdings in Granite Construction were worth $1,832,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in GVA. Root Financial Partners LLC acquired a new position in Granite Construction in the 3rd quarter valued at about $26,000. Salomon & Ludwin LLC purchased a new stake in Granite Construction during the 3rd quarter valued at approximately $42,000. Federated Hermes Inc. lifted its position in Granite Construction by 94.6% during the 3rd quarter. Federated Hermes Inc. now owns 436 shares of the construction company’s stock worth $48,000 after acquiring an additional 212 shares during the period. Quarry LP grew its stake in shares of Granite Construction by 1,417.6% in the 3rd quarter. Quarry LP now owns 516 shares of the construction company’s stock valued at $57,000 after purchasing an additional 482 shares during the last quarter. Finally, Danske Bank A S purchased a new position in shares of Granite Construction in the 3rd quarter valued at approximately $77,000.

Insider Activity at Granite Construction

In other Granite Construction news, CEO Kyle T. Larkin sold 7,314 shares of the stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $119.84, for a total transaction of $876,509.76. Following the sale, the chief executive officer owned 181,594 shares in the company, valued at approximately $21,762,224.96. This represents a 3.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Staci M. Woolsey sold 1,523 shares of the firm’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $119.84, for a total value of $182,516.32. Following the transaction, the chief financial officer directly owned 18,954 shares of the company’s stock, valued at $2,271,447.36. The trade was a 7.44% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. The Goldman Sachs Group upped their price target on Granite Construction from $109.00 to $124.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 28th. Zacks Research raised shares of Granite Construction from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Wall Street Zen upgraded shares of Granite Construction from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. DA Davidson raised their target price on shares of Granite Construction from $130.00 to $155.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Granite Construction in a report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $139.50.

Granite Construction Trading Up 1.3%

Shares of GVA stock opened at $121.23 on Wednesday. Granite Construction Incorporated has a fifty-two week low of $69.08 and a fifty-two week high of $137.24. The stock has a market cap of $5.27 billion, a P/E ratio of 33.12 and a beta of 1.30. The business has a fifty day simple moving average of $126.15 and a 200-day simple moving average of $115.10. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.79.

Granite Construction (NYSE:GVA) last released its quarterly earnings data on Thursday, February 12th. The construction company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.34 by $0.06. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.15 billion. Granite Construction had a net margin of 4.36% and a return on equity of 24.10%. The business’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.23 EPS. On average, analysts forecast that Granite Construction Incorporated will post 5.49 earnings per share for the current fiscal year.

Granite Construction Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Tuesday, March 31st. Granite Construction’s dividend payout ratio is 14.21%.

Granite Construction Company Profile

Granite Construction Inc is a publicly traded heavy civil contractor and construction materials producer based in Watsonville, California. The company specializes in delivering large-scale infrastructure projects for government and private clients, focusing on the development, rehabilitation and maintenance of transportation, water resource and industrial facilities. Its turnkey solutions span the full project lifecycle, from preconstruction and design-build to construction management and facilities maintenance.

In its construction segment, Granite undertakes highway and bridge building, airport runway and taxiway construction, marine terminal and port improvements, dam and reservoir projects, transit systems and underground utilities.