State Street Corp. Amends Granite Construction Stake Filing
Ticker: GVA · Form: SC 13G/A · Filed: Jan 24, 2024 · CIK: 861459
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**State Street Corp. updated its Granite Construction holding, signaling continued institutional interest.**
AI Summary
State Street Corporation, a major financial institution, filed an amended SC 13G/A on January 24, 2024, indicating its ownership of Common Stock in Granite Construction Inc. as of December 31, 2023. This filing, under Rule 13d-1(b), updates their previous disclosure regarding their passive investment in the heavy construction company. This matters to investors because it shows a large institutional investor maintains a position in Granite Construction, potentially signaling confidence in the company's long-term prospects, though the exact percentage of ownership is not detailed in this excerpt.
Why It Matters
This filing confirms State Street Corporation's continued passive investment in Granite Construction Inc., which can be a positive signal for current and prospective shareholders.
Risk Assessment
Risk Level: low — This is a routine amendment filing by an institutional investor, indicating no immediate significant risk or change in investment strategy.
Analyst Insight
Investors should note that a major institutional investor like State Street Corporation continues to hold a position in Granite Construction, but this filing alone doesn't provide details on the size of the stake or any change in it, so further due diligence on Granite Construction's fundamentals is warranted.
Key Numbers
- 387328107 — CUSIP Number (identifies Granite Construction Inc.'s Common Stock)
- 04-2456637 — IRS Identification Number (identifies State Street Corporation)
Key Players & Entities
- State Street Corporation (company) — the reporting person and institutional investor
- Granite Construction Inc. (company) — the subject company whose securities are being reported
- 0000093751-24-000162 (dollar_amount) — accession number for the filing
- January 24, 2024 (date) — date the SC 13G/A was filed
- December 31, 2023 (date) — date of event requiring the filing
Forward-Looking Statements
- State Street Corporation will maintain a significant, passive stake in Granite Construction Inc. throughout 2024. (State Street Corporation) — medium confidence, target: 2024-12-31
FAQ
What type of filing is this document?
This document is an SC 13G/A, which is an amendment to a Schedule 13G filing, as stated in the 'FORM TYPE: SC 13G/A' and 'AMENDED FILING' sections.
Who is the reporting person in this filing?
The reporting person is STATE STREET CORPORATION, as indicated under '1. NAME OF REPORTING PERSON: STATE STREET CORPORATION'.
What is the subject company whose securities are being reported?
The subject company is GRANITE CONSTRUCTION INC., identified under '(NAME OF ISSUER) GRANITE CONSTRUCTION INC'.
What was the date of the event that required this filing?
The date of the event which required the filing of this statement was 12/31/2023, as specified under 'DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT'.
Under which rule was this Schedule 13G/A filed?
This Schedule 13G/A was filed under Rule 13d-1(b), as indicated by the 'X' next to 'RULE 13D-1 (B)'.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 24, 2024 regarding GRANITE CONSTRUCTION INC (GVA).