Granite Awarded $116.9 Million Project Contract by Utah DOT
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 24 2026
0mins
Granite "announced that it has been awarded the West Davis Corridor (SR-177) expansion project by the Utah Department of Transportation. The contract, valued at approximately $116.9 million, will be included in Granite's second quarter 2026 CAP. Project scope includes construction of nine new bridges, two pedestrian crossings, approximately 70,000 tons of asphalt paving, and placement of more than one million cubic yards of borrow material."
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Analyst Views on GVA
Wall Street analysts forecast GVA stock price to fall
2 Analyst Rating
1 Buy
1 Hold
0 Sell
Moderate Buy
Current: 148.410
Low
108.08
Averages
119.04
High
130.00
Current: 148.410
Low
108.08
Averages
119.04
High
130.00
About GVA
Granite Construction Incorporated is a diversified construction and construction materials company in the United States as well as a full-suite civil construction provider. The Company's segments include Construction and Materials. The Construction segment is focused on construction and rehabilitation of roads, pavement preservation, bridges, rail lines, airports, marine ports, dams, reservoirs, aqueducts, infrastructure and site development for use by the general public and water-related construction for municipal agencies, commercial water suppliers, industrial facilities and energy companies. It also provides construction of various complex projects including infrastructure/site development, mining, public safety, tunnel, solar, battery storage and other power-related projects. The Materials segment is focused on production of aggregates, asphalt concrete, liquid asphalt and recycled materials production for internal use in its construction projects and for sale to third parties.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Innovative Delivery Method: The project will utilize the Construction Manager at Risk (CMAR) delivery method, aimed at enhancing construction efficiency and safety, thereby optimizing resource allocation and minimizing potential risks.
- Timeline for Construction: Preconstruction work is scheduled to run from Q2 2026 to Q1 2028, with major construction planned from Q2 2028 to Q3 2029, ensuring timely project delivery.
- Economic Impact Assessment: The construction phase is expected to be valued between $50 million and $60 million, and if awarded, it will provide Granite with substantial revenue growth and enhanced market competitiveness.
See More
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- Project Award: Granite-led Keystone Bridge Partners has been selected by the Washoe County Regional Transportation Commission to provide preconstruction services for the Keystone Avenue Bridge Replacement Project in Reno, reflecting the company's ongoing commitment to infrastructure.
- Construction Method: The project will utilize the Construction Manager at Risk (CMAR) method, aiming to ensure timely delivery and adherence to safety standards while accommodating increased traffic demands through efficient management and collaboration.
- Project Scope: The new bridge will replace the structurally deficient bridge built in 1966, with an anticipated budget ranging from $50 million to $60 million, covering the demolition of the existing bridge and the construction of a new multi-span steel beam structure along with infrastructure improvements.
- Timeline: Preconstruction is scheduled from Q2 2026 to Q1 2028, with major construction expected to take place from Q2 2028 to Q3 2029, ensuring the upgrade of this critical transportation infrastructure in the coming years.
See More
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- James Hardie Initiation: Stephens initiated coverage of James Hardie with an overweight rating and a $31 price target, highlighting its status as a high-quality company and its position as the second-largest composite decking manufacturer following its merger with AZEK.
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- Project Scope and Impact: The project will extend the West Davis Corridor by about three miles, including the construction of nine new bridges and two pedestrian crossings, which is expected to improve traffic flow and connectivity in the northern Davis County area, thereby enhancing regional mobility.
- Material Supply Assurance: Granite's Wells Pit will supply 400,000 cubic yards of borrow material and 350,000 tons of mechanically stabilized earth fill, while the West Haven AC Plant will provide 70,000 tons of Hot Mix Asphalt, ensuring a stable and timely supply of materials for the project.
- Strategic Alignment: This project aligns with Granite's core strengths in structures, paving, and materials, further solidifying the company's strategic positioning in its home market and supporting its leadership role in infrastructure development.
See More
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- PennyMac Underperformance: PennyMac Mortgage Investment Trust, valued at $862.4 million, has seen a 23.1% decline in annual sales over the past five years, with earnings per share dropping by 30.1% annually, suggesting its market offerings have failed to connect effectively, impacting financial health.
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- Market Dynamics Shift: The current market is rapidly distinguishing quality stocks from overvalued ones, with AI technology swiftly transforming multiple sectors, prompting investors to focus on emerging opportunities to capture potential high-return stocks.
See More
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- Record Date for Shareholders: The dividend will be effective for all shareholders of record at the close of business on June 30, 2026, ensuring eligible shareholders receive their dividends promptly, which underscores the company's focus on shareholder value.
- Company Background: Founded in 1922, Granite has grown to become one of the largest diversified construction and construction materials companies in the United States, showcasing a strong market position and industry influence.
- Industry Leadership: As America's Infrastructure Company™, Granite is recognized as an industry leader in safety, quality, and sustainability, further solidifying its reputation and competitive advantage in the construction sector.
See More
