Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) Shares Sold by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. reduced its holdings in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD - Free Report) by 31.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 521,117 shares of the construction company's stock after selling 241,999 shares during the quarter. D. E. Shaw & Co. Inc. owned approximately 0.77% of Great Lakes Dredge & Dock worth $5,883,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AlphaQuest LLC bought a new position in shares of Great Lakes Dredge & Dock during the 4th quarter valued at approximately $33,000. MassMutual Private Wealth & Trust FSB purchased a new position in shares of Great Lakes Dredge & Dock during the fourth quarter worth about $452,000. JPMorgan Chase & Co. boosted its holdings in shares of Great Lakes Dredge & Dock by 217.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 228,121 shares of the construction company's stock worth $2,402,000 after purchasing an additional 156,341 shares in the last quarter. New York State Common Retirement Fund grew its position in Great Lakes Dredge & Dock by 64.8% during the 4th quarter. New York State Common Retirement Fund now owns 14,753 shares of the construction company's stock worth $167,000 after acquiring an additional 5,800 shares during the last quarter. Finally, Quantbot Technologies LP increased its holdings in Great Lakes Dredge & Dock by 29.8% during the 4th quarter. Quantbot Technologies LP now owns 19,429 shares of the construction company's stock valued at $219,000 after purchasing an additional 4,456 shares during the period. 89.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Great Lakes Dredge & Dock from a "hold" rating to a "buy" rating in a research note on Monday.

Great Lakes Dredge & Dock Trading Down 0.2%

Shares of GLDD traded down $0.02 during midday trading on Thursday, hitting $10.84. The stock had a trading volume of 90,640 shares, compared to its average volume of 468,855. The stock's 50 day moving average is $9.36 and its 200 day moving average is $10.50. Great Lakes Dredge & Dock Co. has a 1 year low of $7.51 and a 1 year high of $12.89. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.21 and a quick ratio of 1.01. The firm has a market cap of $736.32 million, a PE ratio of 12.89, a price-to-earnings-growth ratio of 1.06 and a beta of 1.23.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The construction company reported $0.49 earnings per share for the quarter, topping analysts' consensus estimates of $0.25 by $0.24. Great Lakes Dredge & Dock had a return on equity of 13.72% and a net margin of 7.51%. The firm had revenue of $242.87 million during the quarter, compared to analysts' expectations of $206.70 million. As a group, analysts forecast 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 approved a stock repurchase plan on Friday, March 14th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the construction company to buy up to 8.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, SVP Eleni Beyko sold 22,579 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $10.26, for a total transaction of $231,660.54. Following the completion of the sale, the senior vice president now directly owns 50,138 shares of the company's stock, valued at approximately $514,415.88. This trade represents a 31.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Christopher Gunsten bought 3,875 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average price of $7.75 per share, with a total value of $30,031.25. Following the completion of the acquisition, the senior vice president now directly owns 61,532 shares in the company, valued at $476,873. This trade represents a 6.72% increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.00% of the stock is owned by corporate insiders.

Great Lakes Dredge & Dock Profile

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.