R Squared Ltd Has $342,000 Stake in Granite Construction Incorporated $GVA

R Squared Ltd decreased its position in Granite Construction Incorporated (NYSE:GVA) by 37.8% in the second quarter, HoldingsChannel reports. The firm owned 3,653 shares of the construction company’s stock after selling 2,217 shares during the period. R Squared Ltd’s holdings in Granite Construction were worth $342,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its stake in shares of Granite Construction by 1.8% during the 1st quarter. Principal Financial Group Inc. now owns 216,837 shares of the construction company’s stock valued at $16,350,000 after buying an additional 3,737 shares during the period. Golden State Wealth Management LLC boosted its stake in shares of Granite Construction by 16.6% during the 1st quarter. Golden State Wealth Management LLC now owns 5,101 shares of the construction company’s stock valued at $385,000 after buying an additional 725 shares during the period. Blue Trust Inc. boosted its stake in shares of Granite Construction by 40.5% during the 1st quarter. Blue Trust Inc. now owns 781 shares of the construction company’s stock valued at $59,000 after buying an additional 225 shares during the period. GSA Capital Partners LLP boosted its stake in shares of Granite Construction by 112.9% during the 1st quarter. GSA Capital Partners LLP now owns 11,279 shares of the construction company’s stock valued at $850,000 after buying an additional 5,981 shares during the period. Finally, Asset Management One Co. Ltd. boosted its stake in shares of Granite Construction by 16.6% during the 1st quarter. Asset Management One Co. Ltd. now owns 64,952 shares of the construction company’s stock valued at $4,897,000 after buying an additional 9,255 shares during the period.

Analysts Set New Price Targets

GVA has been the subject of a number of research reports. Wall Street Zen raised shares of Granite Construction from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Weiss Ratings reissued a “buy (b-)” rating on shares of Granite Construction in a research note on Tuesday, October 14th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Granite Construction currently has an average rating of “Hold” and an average target price of $76.00.

Insider Activity

In related news, Director Louis E. Caldera sold 1,500 shares of Granite Construction stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $110.16, for a total value of $165,240.00. Following 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Michael G. Tatusko sold 2,000 shares of Granite Construction stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $110.00, for a total transaction of $220,000.00. Following the completion of the transaction, the senior vice president owned 29,241 shares in the company, valued at $3,216,510. This trade represents a 6.40% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,525 shares of company stock worth $608,314. 1.00% of the stock is owned by corporate insiders.

Granite Construction Stock Up 1.0%

Granite Construction stock opened at $104.48 on Friday. The company has a market capitalization of $4.58 billion, a P/E ratio of 34.14 and a beta of 1.39. The firm’s fifty day simple moving average is $107.97 and its 200-day simple moving average is $95.66. The company has a current ratio of 1.57, a quick ratio of 1.45 and a debt-to-equity ratio of 0.66. Granite Construction Incorporated has a 1-year low of $69.08 and a 1-year high of $112.16.

Granite Construction (NYSE:GVA) last released its quarterly earnings results 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 business had revenue of $1.13 billion for 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 for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.73 EPS. Granite Construction has set its FY 2025 guidance at EPS. Sell-side 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 was paid on Wednesday, October 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.5%. Granite Construction’s dividend payout ratio (DPR) is currently 16.99%.

Granite Construction 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.