244,830 Shares in Great Lakes Dredge & Dock Corporation $GLDD Bought by Brandywine Global Investment Management LLC

Key Points

• Brandywine Global Investment Management LLC has purchased 244,830 shares of Great Lakes Dredge & Dock Corporation for approximately $2.13 million, now owning 0.36% of the company.
• Multiple institutional investors, including MIRAE ASSET and HSBC, have increased their stakes in Great Lakes Dredge & Dock during the fourth quarter, highlighting growing interest in the company.
• Analysts have upgraded Great Lakes Dredge & Dock's rating, with Zacks Research issuing a "strong-buy" rating and Wall Street Zen changing their rating from "hold" to "buy."

Brandywine Global Investment Management LLC bought a new position in shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 244,830 shares of the construction company's stock, valued at approximately $2,130,000. Brandywine Global Investment Management LLC owned about 0.36% of Great Lakes Dredge & Dock at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Great Lakes Dredge & Dock by 3.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,537 shares of the construction company's stock worth $424,000 after buying an additional 1,235 shares during the last quarter. Hsbc Holdings PLC boosted its position in Great Lakes Dredge & Dock by 5.7% during the fourth quarter. Hsbc Holdings PLC now owns 39,984 shares of the construction company's stock worth $453,000 after purchasing an additional 2,150 shares during the period. MetLife Investment Management LLC boosted its position in Great Lakes Dredge & Dock by 5.9% during the fourth quarter. MetLife Investment Management LLC now owns 39,877 shares of the construction company's stock worth $450,000 after purchasing an additional 2,213 shares during the period. Legal & General Group Plc boosted its position in Great Lakes Dredge & Dock by 4.9% during the fourth quarter. Legal & General Group Plc now owns 75,180 shares of the construction company's stock worth $849,000 after purchasing an additional 3,513 shares during the period. Finally, Invesco Ltd. boosted its position in Great Lakes Dredge & Dock by 2.2% during the fourth quarter. Invesco Ltd. now owns 182,591 shares of the construction company's stock worth $2,061,000 after purchasing an additional 3,867 shares during the period. 89.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Zacks Research raised shares of Great Lakes Dredge & Dock to a "strong-buy" rating in a research report on Tuesday, August 12th. Wall Street Zen raised shares of Great Lakes Dredge & Dock from a "hold" rating to a "buy" rating in a research report on Monday, May 19th.

Insider Activity

In other news, Director Ronald Steger sold 5,000 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $11.59, for a total value of $57,950.00. Following the completion of the sale, the director owned 20,404 shares of the company's stock, valued at approximately $236,482.36. The trade was a 19.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.00% of the company's stock.

Great Lakes Dredge & Dock Trading Up 2.0%

Shares of Great Lakes Dredge & Dock stock opened at $11.58 on Tuesday. The firm has a 50-day moving average of $11.50 and a 200-day moving average of $10.27. The stock has a market cap of $787.44 million, a PE ratio of 11.03, a PEG ratio of 0.93 and a beta of 1.35. Great Lakes Dredge & Dock Corporation has a 52-week low of $7.51 and a 52-week high of $12.89. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.02 and a current ratio of 1.15.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last announced its earnings results on Tuesday, August 5th. The construction company reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.06. The company had revenue of $193.76 million during the quarter, compared to analysts' expectations of $177.70 million. Great Lakes Dredge & Dock had a net margin of 8.63% and a return on equity of 15.61%. As a group, sell-side analysts forecast that Great Lakes Dredge & Dock Corporation will post 0.69 EPS for the current year.

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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