SCHEDULE 13G/A: Millennium Management and Affiliates Disclose Passive Stake in Granite Construction

Millennium Management LLC and its affiliates, including Integrated Core Strategies (US) LLC and Israel A. Englander, have filed an amended Schedule 13G disclosing passive beneficial ownership of up to 3.0% of Granite Construction Incorporated's common stock as of March 31, 2025.

Summary

• Integrated Core Strategies (US) LLC, Millennium Management LLC, Millennium Group Management LLC, and Israel A. Englander have filed an Amendment No. 1 to Schedule 13G regarding their beneficial ownership of common stock in Granite Construction Incorporated.
• The filing indicates that Millennium Management LLC, Millennium Group Management LLC, and Israel A. Englander each beneficially own 1,283,009 shares of Granite Construction Incorporated's common stock, representing 3.0% of the class.
• Integrated Core Strategies (US) LLC beneficially owns 970,637 shares, representing 2.2% of the class.
• The shares are held with shared voting and shared dispositive power among the reporting persons, reflecting their organizational structure.
• The filing is made under Rule 13d-1(b), signifying that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer, consistent with a passive investment strategy.

Sentiment

Score: 5

Explanation: The document is a factual disclosure of beneficial ownership and does not contain information that would indicate a positive or negative sentiment regarding the issuer's performance or outlook.

Future Outlook

This document is a beneficial ownership disclosure and does not contain forward-looking statements or guidance regarding Granite Construction Incorporated's future outlook.

Management Comments

• The certification states that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under Rule 14a-11.

Industry Context

This filing is a standard disclosure of an institutional investor's passive stake in a publicly traded company. It does not provide specific insights into broader industry trends or competitive landscape for Granite Construction Incorporated.

Stakeholder Impact

• Shareholders: Provides transparency regarding significant institutional ownership, potentially signaling investor interest in Granite Construction Incorporated.

Key Dates

Keywords

Granite Construction, Millennium Management, Schedule 13G, Beneficial Ownership, Common Stock, Passive Investment, Integrated Core Strategies, Israel A. Englander