Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) Holdings Increased by CenterBook Partners LP

Key Points

• CenterBook Partners LP has increased its stake in Great Lakes Dredge & Dock Corporation by 169.2% in Q1, owning approximately 1.67% of the company worth about $9.76 million.
• Great Lakes Dredge & Dock's shares were upgraded from a "hold" to a "buy" rating by Wall Street Zen on May 19th.
• The company reported $0.14 EPS in its latest quarterly earnings, surpassing estimates, with revenue of $193.76 million against a predicted $177.70 million.

CenterBook Partners LP boosted its holdings in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD - Free Report) by 169.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,121,974 shares of the construction company's stock after purchasing an additional 705,159 shares during the quarter. CenterBook Partners LP owned approximately 1.67% of Great Lakes Dredge & Dock worth $9,761,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Byrne Asset Management LLC acquired a new position in shares of Great Lakes Dredge & Dock in the 1st quarter valued at about $40,000. Federated Hermes Inc. lifted its holdings in 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 worth $63,000 after acquiring an additional 5,045 shares during the last quarter. Lazard Asset Management LLC acquired a new position in Great Lakes Dredge & Dock in the fourth quarter valued at approximately $118,000. KLP Kapitalforvaltning AS bought a new position in shares of Great Lakes Dredge & Dock during the fourth quarter valued at approximately $132,000. Finally, Walleye Capital LLC bought a new position in shares of Great Lakes Dredge & Dock during the fourth quarter valued at approximately $137,000. Institutional investors own 89.11% of the company's stock.

Insider Activity

In related news, Director Ronald Steger sold 5,000 shares of the firm's stock in a transaction that occurred 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 directly owned 20,404 shares in the company, valued at $236,482.36. This trade represents a 19.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.20% of the company's stock.

Great Lakes Dredge & Dock Stock Performance

Shares of Great Lakes Dredge & Dock stock traded up $0.30 during trading on Friday, hitting $11.58. 403,642 shares of the stock were exchanged, compared to its average volume of 416,371. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.20 and a current ratio of 1.15. Great Lakes Dredge & Dock Corporation has a 12 month low of $7.51 and a 12 month high of $12.89. The stock's fifty day moving average is $11.51 and its 200 day moving average is $10.28. The stock has a market cap of $787.44 million, a PE ratio of 11.03, a P/E/G ratio of 0.95 and a beta of 1.35.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last posted 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. Great Lakes Dredge & Dock had a net margin of 8.63% and a return on equity of 15.61%. The firm had revenue of $193.76 million during the quarter, compared to analyst estimates of $177.70 million. As a group, sell-side analysts anticipate that Great Lakes Dredge & Dock Corporation will post 0.69 EPS for the current year.

Wall Street Analyst Weigh In

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

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.