Dimensional Fund Advisors LP Has $57.57 Million Position in Great Lakes Dredge & Dock Corporation $GLDD

Key Points

• Dimensional Fund Advisors reduced its Great Lakes Dredge & Dock position by 21.2% in the first quarter, selling 913,740 shares. It still owned 3.39 million shares, representing a 5.07% stake valued at approximately $57.6 million.
• Institutional investors own 89.11% of GLDD, while the stock recently traded at $17.00—near its 12-month high of $17.02 and above its 50-day moving average of $15.47.
• Analyst sentiment remains cautious: GLDD has an average rating of “Hold” and a consensus price target of $17.00, despite one research firm upgrading the stock to “strong buy.”

Dimensional Fund Advisors LP lessened its holdings in shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD - Free Report) by 21.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,386,372 shares of the construction company's stock after selling 913,740 shares during the quarter. Dimensional Fund Advisors LP owned 5.07% of Great Lakes Dredge & Dock worth $57,569,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Financial Management Professionals Inc. bought a new stake in Great Lakes Dredge & Dock during the fourth quarter worth $25,000. Farther Finance Advisors LLC boosted its holdings in Great Lakes Dredge & Dock by 231.4% during the 4th quarter. Farther Finance Advisors LLC now owns 2,111 shares of the construction company's stock worth $28,000 after acquiring an additional 1,474 shares during the last quarter. Parallel Advisors LLC boosted its holdings in Great Lakes Dredge & Dock by 39.0% during the 1st quarter. Parallel Advisors LLC now owns 2,304 shares of the construction company's stock worth $39,000 after acquiring an additional 647 shares during the last quarter. Strs Ohio bought a new stake in shares of Great Lakes Dredge & Dock in the 1st quarter worth $45,000. Finally, Bogart Wealth LLC bought a new stake in shares of Great Lakes Dredge & Dock in the 1st quarter worth $51,000. 89.11% of the stock is owned by institutional investors.

Great Lakes Dredge & Dock Price Performance

GLDD opened at $17.00 on Friday. The firm has a 50-day moving average price of $15.47 and a 200-day moving average price of $16.15. Great Lakes Dredge & Dock Corporation has a twelve month low of $8.80 and a twelve month high of $17.02. The company has a quick ratio of 0.88, a current ratio of 1.01 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 15.89, a PEG ratio of 1.26 and a beta of 1.38.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Great Lakes Dredge & Dock to a "strong-buy" rating in a research report on Saturday, April 4th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $17.00.

Great Lakes Dredge & Dock Company Profile

Great Lakes Dredge & Dock Corporation NASDAQ: GLDD is a leading provider of dredging and maritime construction services in the United States. The company specializes in the excavation and removal of sediment from waterways, harbors, ports and coastal areas to maintain navigability and support commercial shipping. Its operations encompass both maintenance dredging—removing accumulated material to restore channel depth—and new work projects such as land reclamation and harbor deepening.

In addition to traditional dredging, Great Lakes Dredge & Dock offers a range of complementary marine construction services.

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