Granite Awarded $19 Million Water System Replacement Project Contract
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 03 2026
0mins
The company states: "Granite announced it has been awarded an approximately $19 million Progressive Design-Build Guaranteed Maximum Price 1 for the Tahoe Cedars Water System Replacement Project by the Tahoe City Public Utility District. The Tahoe Cedars Water System Replacement Project, located on the west shore of Lake Tahoe, California, will modernize critical infrastructure serving the Tahoe Cedars community by replacing aging pipelines and system components that have operated beyond their intended service life. The project will improve system reliability, reduce water loss, and strengthen fire protection capabilities in high-risk wildfire areas like the Tahoe Basin. Designed to meet current regulatory standards and adapt to future demands, the upgraded system provides a resilient, long-term solution with an anticipated service life of at least 50 years, supporting the safety and sustainability of the Tahoe Cedars community. GMP 1 construction is expected to begin in mid-June 2026 and anticipated to be completed in October 2026. This initial GMP phase represents the first year of a planned four-year construction program."
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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: 143.340
Low
108.08
Averages
119.04
High
130.00
Current: 143.340
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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- 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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- Quarterly Cash Dividend: Granite has announced a quarterly cash dividend of $0.13 per common share, payable on July 15, 2026, reflecting the company's commitment to shareholder returns and enhancing investor confidence.
- 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
Granite Awarded $19 Million Water System Project
- Contract Award: Granite has been awarded an approximately $19 million Progressive Design-Build (PDB) Guaranteed Maximum Price (GMP) contract by the Tahoe City Public Utility District, highlighting the company's strong performance in infrastructure projects.
- Infrastructure Modernization: The project aims to replace aging pipelines and system components in the Tahoe Cedars community, installing 15,000 linear feet of new water mains to enhance water supply reliability and fire protection capabilities, with an expected service life of at least 50 years.
- Implementation Details: Key components include the relocation of over 200 existing service lines and the installation of 29 fire hydrants to improve fire protection coverage, along with the integration of approximately 200 residential water meters to support enhanced system monitoring and efficiency.
- Construction Timeline: GMP 1 construction is expected to begin in mid-June 2026 and is anticipated to be completed by October 2026, marking the first year of a planned four-year construction program, demonstrating Granite's efficiency and reliability in project management.
See More
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- Project Details: The project includes the construction of a new alignment for All American Boulevard and widening work along Kennedy Boulevard, showcasing the company's capability and commitment to improving transportation infrastructure, which is expected to enhance local traffic flow.
- Timeline: Construction is expected to begin in June 2026 and be completed by January 2029, providing the company with a stable revenue source and contributing positively to its future financial performance.
- Financial Impact: This contract will be included in Granite's committed and awarded projects for the second quarter of 2026, further solidifying its financial foundation for the coming years and reflecting the company's competitiveness in securing large-scale projects.
See More
Granite Awarded Major Construction Project in Florida
- Contract Value: Granite has been awarded the All American Boulevard Construction and Kennedy Boulevard Widening project by Orange County, Florida, with a contract value of approximately $41 million, which will be included in Granite's second quarter 2026 capital expenditures.
- Traffic Improvement Plan: The project aims to enhance traffic flow in a busy commercial corridor by constructing a new alignment for All American Boulevard and widening Kennedy Boulevard, which is expected to significantly alleviate congestion.
- Funding Sources: Funding for the project is provided by Orange County Public Works and the Florida Department of Transportation, ensuring financial backing and smooth execution while strengthening Granite's partnership with local government.
- Construction Timeline: Construction is expected to begin in June 2026 and be completed by January 2029, marking Granite's first direct contract with Orange County and showcasing the company's ongoing growth potential in the infrastructure sector.
See More
Granite Announces Redemption of 2028 Convertible Senior Notes
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- Increased Conversion Rate: The conversion rate for the 2028 Notes has been raised to 21.8116 shares per $1,000 principal from today until August 6, 2026, with an additional 0.1309 shares, which may incentivize investors to convert before redemption, potentially boosting demand for the company's stock.
- Cash Settlement Option: Granite has opted for cash settlement for conversions during this period, up to $2,617.40 per $1,000 principal, with any excess settled in shares, a flexible approach that could enhance investor participation.
- Risk Advisory: The company cautions investors about the risks associated with forward-looking statements, particularly regarding the potential impact of the redemption and related derivative transactions on stock prices, highlighting market uncertainties and potential volatility.
See More
