Granite Construction GVA Stock Does Downtrend Channel Breakout

  • Post category:Stock Trading
  • Reading time:3 mins read
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Granite Construction GVA stock formed a downtrend channel breakout chart pattern on June 5, 2023. GVA stock is in a technical weak uptrend.

GVA stock chart on June 5 2023 with a downtrend channel breakout chart pattern
GVA stock chart on June 5, 2023, with a downtrend channel breakout chart pattern

Granite Construction Incorporated is a company that provides infrastructure solutions in the United States. It offers construction, transportation, water resources, and materials businesses. The company also provides heavy civil engineering, highway and bridge construction, general contracting, and other related services for public and private clients. Granite Construction also produces and sells hot-mix asphalt, aggregates, recycled materials, and other construction materials.

Granite to Widen Highway 1 in the Soquel/Capitola area of Santa Cruz County

The California Department of Transportation (Caltrans) awarded Granite a contract to widen a portion of Highway 1 in Santa Cruz, California, on May 23, 2023, for a total estimated value of $29 million. The project is funded by the Santa Cruz County Regional Transportation Commission (SCCRTC), with Local Measure D-Highway Corridor funds, Senate Bill 1 grants, as well as other SCCRTC discretionary funds, used to complete the work required to prepare the project for construction. The undertaking was a part of Granite’s fourth-quarter CAP for 2022.

Four retaining walls, one soldier pile retaining wall, and a 650-foot box girder pedestrian bridge over Highway 1 at Chanticleer Avenue are all part of the project. Highway 1 in Capitola will be widened in both directions from Soquel Avenue to 41st Avenue, adding a second lane of traffic to the already-existing earth median. Granite plans to use 27,000 tons of subbase and base from nearby plants and 18,600 tons of hot mix asphalt (HMA) from its Salinas Hot Plant.

Three Generations at Granite Construction

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