This SR33 enhancement project of approximately $27 million, which will be funded by Caltrans, will be included in Granite's second-quarter 2024 Committed and Awarded Projects (CAP). Shares of this civil construction company and aggregate producer gained 21% in the past three months, outperforming the Zacks Building Products - Heavy Construction industry's 18.1% growth. The company's Per the contract, Granite will be responsible for enhancing road safety and driving conditions of this 19-mile stretching SR33 ...

Granite Construction Incorporated (GVA) has secured a $16 million contract from the City of Salinas to upgrade a major traffic route between residential areas and Highway 101. The project will widen East Boronda Road into a four-lane roadway and construct a multi-lane roundabout at the McKinnon Street intersection, significantly improving traffic flow and safety. Granite's local operations will supply essential materials, including 7,500 tons of Hot Mix Asphalt, 8,000 tons of Recycled Aggregate Base from th ...

Granite Construction Incorporated (GVA) received an approximately $25 million contract to remove and replace the Edgewater Creek Bridge. The City of Everett has provided this contract, which includes the removal of the existing bridge and the construction of a new bridge over the Edgewater Creek Basin and is funded by federal grants and local funds. Although the project involves some engineering challenges due to the steep and unstable soils of the ravine, GVA's experts will construct a trestle to facilitat ...

Group 1: Company Performance and Rankings - Tutor Perini Corporation (TPC) currently holds a Zacks Rank 1, indicating strong performance potential [2] - Dycom Industries, Inc. (DY) also has a Zacks Rank 1 and has delivered a trailing four-quarter earnings surprise of 30.2% on average [3] - EMCOR Group, Inc. (EME) boasts a Zacks Rank 1 with a trailing four-quarter earnings surprise of 32% on average [6] - Granite Construction Incorporated (GVA) has received a Zacks Rank 1 (Strong Buy) [9] Group 2: Recent Contracts and Projects - Granite Construction has secured a contract worth approximately $15 million to rehabilitate pavement along State Route 41 (SR41) from the California Department of Transportation [7] - The project includes removing and replacing failed pavement areas at SR41 with 49,400 tons of Hot Mix Asphalt (HMA) and placing a surface course of 19,100 tons of Rubberized HMA (RHMA) [14] - The work is expected to commence in July 2024 and be completed by July 2025 [10] Group 3: Financial Performance and Estimates - GVA's shares have increased by 56% over the past year, while the Zacks Building Products - Heavy Construction industry has grown by 60.2% [11] - Earnings estimates for GVA for 2024 have risen to $4.76 from $4.29 in the past 60 days, indicating a year-over-year growth of 51.6% [11] - The Zacks Consensus Estimate for TPC's 2024 sales and earnings per share (EPS) indicates growth of 18% and 133.3%, respectively, from the previous year [12] - The Zacks Consensus Estimate for DY's fiscal 2025 sales and EPS indicates a rise of 9.3% and 5.6%, respectively, year over year [13] - The Zacks Consensus Estimate for EME's 2024 EPS indicates an improvement of 20.7% from the prior-year levels [17] Group 4: Market Environment and Opportunities - GVA's performance is driven by consistent award wins and a focus on growing a high-quality Committed and Awarded Projects (CAP) portfolio, supported by a positive public funding environment and resilient private market [8] - GVA's CAP increased to $5.5 billion in the first quarter of 2024, up from $5.1 billion as of March 31, 2023, indicating strong market growth [15] - The company expects substantial opportunities to build CAP in the second quarter and the remainder of 2024 [15]

The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Granite Construction is currently sporting a Zacks Rank of #1 (Strong Buy). Armstrong World Industries (AWI) is another Construction stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 1 ...

Investors interested in Construction stocks should always be looking to find the best-performing companies in the group. Is Granite Construction (GVA) one of those stocks right now? A quick glance at the company's yearto-date performance in comparison to the rest of the Construction sector should help us answer this question. Granite Construction is a member of our Construction group, which includes 94 different companies and currently sits at #1 in the Zacks Sector Rank. The Zacks Sector Rank gauges the st ...

While many investors like to look for momentum in stocks, this can be very tough to define. There is a lot of debate surrounding which metrics are the best to focus on and which are poor quality indicators of future performance. The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us. Below, we take a look at Granite Construction (GVA) , which currently has a Momentum Style Score of B. We also discuss some of the main drivers of the Momentum Style Score, like price ch ...

A safer approach could be investing in bargain stocks with recent price momentum. While the Zacks Momentum Style Score (part of the Zacks Style Scores system) helps identify great momentum stocks by paying close attention to trends in a stock's price or earnings, our 'Fast-Paced Momentum at a Bargain' screen comes handy in spotting fast-moving stocks that are still attractively priced. Momentum investors typically don't time the market or "buy low and sell high." In other words, they avoid betting on cheap ...

Granite Construction Incorporated (GVA) is all set to rehabilitate pavement along Highway 162 in Mendocino County with a $36 million contract received from the California Department of Transportation (Caltrans). Per the deal, Granite will furnish and place 150,000 tons of conventional and rubberized hot mix asphalt to rebuild the structural section of the roadway. This will improve 25 miles of roadway that connect to the Covelo- Round Valley area. The rubberized surface course will use recycled tires and pr ...

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.While many investors like to look for moment ...