Kyle T. Larkin, who serves as President and Chief Executive Officer of Granite Construction Inc. (NYSE: GVA), carried out a series of sales of the company’s common shares on March 27 and March 30, 2026, according to a Form 4 filing with the Securities and Exchange Commission.
The transactions comprised a total of 38,675 shares and generated proceeds of $4,548,597. Executed at prices ranging from $115.716 to $119.188 per share, the trades were conducted under an automatic plan.
Breakdown of transactions
- March 27, 2026 - 13,066 shares sold at a weighted average price of $117.802.
- March 27, 2026 - 12,285 shares sold at a weighted average price of $118.339.
- March 27, 2026 - 1,300 shares sold at a weighted average price of $119.188.
- March 30, 2026 - 1,846 shares sold at a weighted average price of $115.716.
- March 30, 2026 - 8,290 shares sold at a weighted average price of $116.464.
- March 30, 2026 - 1,588 shares sold at a weighted average price of $117.091.
- March 30, 2026 - 300 shares sold at a weighted average price of $118.73.
The filing states the sales were effected automatically pursuant to a Rule 10b5-1 trading plan that Larkin adopted on December 3, 2025. After these dispositions, Larkin directly holds 102,857 shares of Granite Construction common stock.
Market context and valuation notes
The insider sales occurred while Granite Construction shares were trading near $116.49, a level that the filing notes is modestly above InvestingPro's Fair Value estimate of $115.32. The note characterizes that pricing as suggesting slight overvaluation relative to the InvestingPro metric.
Despite some recent monthly weakness in the stock, the company’s shares have produced a notable 55.75% total return over the past year, according to the information cited. The reporting also references InvestingPro’s additional commentary that Granite Construction trades at a relatively low price-to-earnings ratio when compared with its near-term earnings growth projections; InvestingPro reportedly provides eight further tips specific to GVA and a Pro Research Report covering the company and more than 1,400 other U.S. equities.
Company operational and contract developments
Granite Construction’s most recent quarterly results for the fourth quarter of 2025 were stronger than analysts’ expectations. The company reported earnings per share of $1.40 versus a consensus estimate of $1.13, a 23.89% surprise. Revenue for the quarter reached $1.2 billion, exceeding the expected $1.14 billion by 5.26%.
In a separate corporate development, Granite Construction announced it was awarded a $495 million contract by U.S. Customs and Border Protection for the LRT-4 Webb-Zapata project near Laredo, Texas. The company indicated the contract will be included in its first-quarter 2026 capital allocation plan. The combination of the contract award and the better-than-expected quarterly results are cited as meaningful recent developments for the firm.
What the filing shows
The Form 4 provides a clear record of the size, timing, and pricing of the CEO's sales and confirms those transactions were carried out under a previously established 10b5-1 plan. The filing also documents Larkin’s remaining direct ownership position of 102,857 shares following the March transactions.
Note: The information above is drawn from the SEC Form 4 filing and the company and InvestingPro figures and statements as cited in those disclosures.