For deeper insights into Granite's financial outlook and 12 additional ProTips, visit InvestingPro. In other recent news, Granite Construction has been active in securing significant projects and maintaining investor confidence. The company announced a joint venture with Contri Construction Company to deliver the preconstruction phase of the Paradise Hills Construction Manager at Risk Project for the Southern Nevada Water Authority, valued at approximately $240 million. Additionally, Granite secured a $3 million preconstruction contract for the Tahoe Cedars Water Reconstruction Project in California, marking its first Progressive Design-Build contract in the state. Meanwhile, DA Davidson has reiterated its Buy rating on Granite Construction, maintaining a price target of $108. The firm's analyst, Brent Thielman, highlighted the company's strategic focus on mergers and acquisitions as well as organic growth opportunities.