Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) Position Raised by Acuitas Investments LLC

Acuitas Investments LLC increased its holdings in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD - Free Report) by 17.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 423,234 shares of the construction company's stock after acquiring an additional 62,653 shares during the period. Great Lakes Dredge & Dock comprises approximately 3.1% of Acuitas Investments LLC's portfolio, making the stock its 10th biggest holding. Acuitas Investments LLC owned about 0.63% of Great Lakes Dredge & Dock worth $3,682,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Byrne Asset Management LLC bought a new position in shares of Great Lakes Dredge & Dock in the first quarter valued at approximately $40,000. GAMMA Investing LLC grew its holdings in shares of Great Lakes Dredge & Dock by 800.5% in the first quarter. GAMMA Investing LLC now owns 16,965 shares of the construction company's stock valued at $148,000 after acquiring an additional 15,081 shares in the last quarter. Total Wealth Planning & Management Inc. bought a new position in shares of Great Lakes Dredge & Dock in the fourth quarter valued at approximately $522,000. Mackenzie Financial Corp bought a new position in shares of Great Lakes Dredge & Dock in the fourth quarter valued at approximately $223,000. Finally, Castlekeep Investment Advisors LLC bought a new position in shares of Great Lakes Dredge & Dock in the fourth quarter valued at approximately $5,521,000. 89.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen raised Great Lakes Dredge & Dock from a "hold" rating to a "buy" rating in a report on Monday, May 19th.

Insider Buying and Selling at Great Lakes Dredge & Dock

In other Great Lakes Dredge & Dock news, SVP Eleni Beyko sold 22,579 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $10.26, for a total transaction of $231,660.54. Following the sale, the senior vice president owned 50,138 shares in the company, valued at $514,415.88. This represents a 31.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ronald Steger sold 5,000 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $11.59, for a total value of $57,950.00. Following the sale, the director owned 20,404 shares in the company, valued at approximately $236,482.36. This represents a 19.68% decrease in their position. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by corporate insiders.

Great Lakes Dredge & Dock Stock Performance

NASDAQ GLDD traded up $0.05 on Friday, hitting $12.01. 283,161 shares of the stock traded hands, compared to its average volume of 484,313. The business's fifty day moving average is $11.17 and its two-hundred day moving average is $10.35. Great Lakes Dredge & Dock Corporation has a 12 month low of $7.51 and a 12 month high of $12.89. The firm has a market capitalization of $815.50 million, a price-to-earnings ratio of 11.77, a PEG ratio of 1.05 and a beta of 1.30. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.20 and a current ratio of 1.33.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The construction company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.24. Great Lakes Dredge & Dock had a return on equity of 15.72% and a net margin of 8.63%. The business had revenue of $242.87 million during the quarter, compared to analyst estimates of $206.70 million. As a group, equities analysts anticipate that Great Lakes Dredge & Dock Corporation will post 0.69 EPS for the current fiscal year.

Great Lakes Dredge & Dock announced that its board has initiated a stock repurchase program on Friday, March 14th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 8.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board of directors believes its stock is undervalued.

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.