BlackRock Updates Passive Stake in Granite Construction
Ticker: GVA · Form: SC 13G/A · Filed: Jan 22, 2024 · CIK: 861459
| Field | Detail |
|---|---|
| Company | Granite Construction INC (GVA) |
| Form Type | SC 13G/A |
| Filed Date | Jan 22, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**BlackRock just updated its passive stake in Granite Construction.**
AI Summary
BlackRock Inc. filed an Amendment No. 17 to its SC 13G/A for Granite Construction Inc. on January 22, 2024, indicating its ownership of Common Stock as of December 31, 2023. This filing updates BlackRock's passive investment stake in Granite Construction. For investors, this matters because BlackRock is a major institutional investor, and changes in its holdings can signal shifts in confidence or strategy regarding the stock, potentially influencing market perception and trading activity.
Why It Matters
This filing shows BlackRock's updated ownership in Granite Construction, which can influence investor sentiment and potentially impact the stock's perceived stability or attractiveness.
Risk Assessment
Risk Level: low — This is a routine update from a passive institutional investor and does not indicate any immediate significant risk or opportunity.
Analyst Insight
An investor should note BlackRock's continued passive interest in Granite Construction, but this filing alone doesn't suggest a need for immediate action. It's a routine disclosure of an institutional holding.
Key Players & Entities
- BlackRock Inc. (company) — the reporting person and institutional investor
- Granite Construction Inc. (company) — the subject company whose securities are being reported
- December 31, 2023 (date) — the date of the event requiring the filing
- January 22, 2024 (date) — the filing date of the SC 13G/A amendment
FAQ
What type of filing is this and what does it signify?
This is an SC 13G/A filing, specifically Amendment No. 17. It signifies an amendment to a Schedule 13G, which is used by passive investors (those holding less than 20% of a company's stock and not intending to influence control) to report their ownership stake in a public company. The 'A' indicates it's an amendment to a previously filed statement.
Who is the reporting person in this filing?
The reporting person is BlackRock, Inc., a major institutional investment manager, as stated under 'Names of reporting persons' on the cover page.
What is the subject company whose securities are being reported?
The subject company is GRANITE CONSTRUCTION INC, as indicated under 'Name of Issuer' on the Schedule 13G form.
What is the CUSIP number for the securities mentioned in this filing?
The CUSIP number for the Common Stock of Granite Construction Inc. is 387328107, as listed on the cover page of the Schedule 13G.
What was the 'Date of Event Which Requires Filing of this Statement'?
The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023, as specified on the cover page of the Schedule 13G.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 22, 2024 regarding GRANITE CONSTRUCTION INC (GVA).