D. E. Shaw & Co. Inc. Sells 241,999 Shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

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

Several other institutional investors have also bought and sold shares of GLDD. AlphaQuest LLC purchased a new stake in Great Lakes Dredge & Dock during the 4th quarter valued at $33,000. Federated Hermes Inc. raised its stake in shares of Great Lakes Dredge & Dock by 878.9% in the fourth quarter. Federated Hermes Inc. now owns 5,619 shares of the construction company's stock valued at $63,000 after acquiring an additional 5,045 shares during the period. R Squared Ltd purchased a new stake in shares of Great Lakes Dredge & Dock in the fourth quarter valued at $69,000. Semanteon Capital Management LP bought a new stake in shares of Great Lakes Dredge & Dock in the 4th quarter worth about $130,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Great Lakes Dredge & Dock during the 4th quarter worth about $132,000. Institutional investors own 89.11% of the company's stock.

Insiders Place Their Bets

In other Great Lakes Dredge & Dock news, SVP Eleni Beyko sold 22,579 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $10.26, for a total value of $231,660.54. Following the transaction, the senior vice president now directly owns 50,138 shares in the company, valued at $514,415.88. This represents a 31.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Christopher Gunsten bought 3,875 shares of the company's stock in a transaction on Tuesday, March 4th. The stock was bought at an average price of $7.75 per share, for a total transaction of $30,031.25. Following the completion of the purchase, the senior vice president now directly owns 61,532 shares in the company, valued at approximately $476,873. This represents a 6.72% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.20% of the company's stock.

Great Lakes Dredge & Dock Trading Up 0.5%

Shares of GLDD stock traded up $0.05 on Tuesday, reaching $11.04. 546,453 shares of the company's stock were exchanged, compared to its average volume of 469,513. The company's fifty day simple moving average is $9.25 and its 200 day simple moving average is $10.50. Great Lakes Dredge & Dock Co. has a 52 week low of $7.51 and a 52 week high of $12.89. The company has a current ratio of 1.21, a quick ratio of 1.01 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $749.90 million, a PE ratio of 13.14, a P/E/G ratio of 1.06 and a beta of 1.23.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last released its earnings results 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 business had revenue of $242.87 million for the quarter, compared to analyst estimates of $206.70 million. As a group, analysts forecast that Great Lakes Dredge & Dock Co. will post 0.69 EPS for the current year.

Great Lakes Dredge & Dock declared that its board has initiated a share repurchase program on Friday, March 14th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the construction company to reacquire up to 8.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Great Lakes Dredge & Dock from a "hold" rating to a "buy" rating in a research report on Monday.

Great Lakes Dredge & Dock Company 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.