Castlekeep Investment Advisors LLC Makes New Investment in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Castlekeep Investment Advisors LLC bought a new stake in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 5,576,458 shares of the construction company's stock, valued at approximately $62,958,000. Castlekeep Investment Advisors LLC owned 8.29% of Great Lakes Dredge & Dock as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Barclays PLC lifted its holdings in Great Lakes Dredge & Dock by 338.9% in the 3rd quarter. Barclays PLC now owns 106,642 shares of the construction company's stock valued at $1,123,000 after purchasing an additional 82,344 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Great Lakes Dredge & Dock by 217.8% in the third quarter. JPMorgan Chase & Co. now owns 228,121 shares of the construction company's stock worth $2,402,000 after buying an additional 156,341 shares in the last quarter. MassMutual Private Wealth & Trust FSB acquired a new position in Great Lakes Dredge & Dock during the fourth quarter worth about $452,000. SG Americas Securities LLC raised its holdings in Great Lakes Dredge & Dock by 11.0% in the 4th quarter. SG Americas Securities LLC now owns 121,898 shares of the construction company's stock valued at $1,376,000 after acquiring an additional 12,056 shares during the last quarter. Finally, R Squared Ltd purchased a new position in Great Lakes Dredge & Dock in the 4th quarter worth approximately $69,000. Hedge funds and other institutional investors own 89.11% of the company's stock.

Great Lakes Dredge & Dock Price Performance

NASDAQ:GLDD opened at $9.62 on Monday. Great Lakes Dredge & Dock Co. has a one year low of $6.99 and a one year high of $12.89. The stock has a market cap of $648.01 million, a PE ratio of 11.45, a P/E/G ratio of 1.06 and a beta of 1.17. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.01 and a current ratio of 1.21. The stock has a 50 day moving average price of $8.65 and a 200 day moving average price of $10.58.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.23 by $0.06. Great Lakes Dredge & Dock had a return on equity of 13.72% and a net margin of 7.51%. The business had revenue of $202.77 million for the quarter, compared to analyst estimates of $211.20 million. Equities research analysts expect that Great Lakes Dredge & Dock Co. will post 0.69 EPS for the current fiscal year.

Great Lakes Dredge & Dock declared that its board has authorized a share buyback program on Friday, March 14th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the construction company to buy up to 8.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its stock is undervalued.

Insider Activity

In other Great Lakes Dredge & Dock news, SVP Christopher Gunsten purchased 3,875 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average price of $7.75 per share, with a total value of $30,031.25. Following the purchase, the senior vice president now directly owns 61,532 shares in the company, valued at approximately $476,873. This trade represents a 6.72 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 2.20% of the company's stock.

About Great Lakes Dredge & Dock

Great Lakes Dredge & Dock Corp. engages in the provision of dredging services. Its projects include channel and port maintenance, channel deepening and port expansion, coastal protection and restoration, as well as land reclamation. The company was founded by William A. Lydon and Frederick C. Drews in 1890 and is headquartered in Houston, TX.

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