Fox Run Management L.L.C. Grows Position in Great Lakes Dredge & Dock Corporation $GLDD

Key Points

• Fox Run Management L.L.C. increased its stake in Great Lakes Dredge & Dock Corporation by 88.9% during the first quarter, acquiring an additional 32,589 shares, bringing its total ownership to 69,234 shares.
• Major institutional investors have significantly increased their holdings in GLDD, with Castlekeep Investment Advisors adding a new stake valued at approximately $62.96 million in the fourth quarter.
• Great Lakes Dredge & Dock reported a quarterly EPS of $0.14, exceeding analyst expectations, with a notable revenue of $193.76 million for the quarter.

Fox Run Management L.L.C. raised its position in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD - Free Report) by 88.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 69,234 shares of the construction company's stock after buying an additional 32,589 shares during the quarter. Fox Run Management L.L.C. owned approximately 0.10% of Great Lakes Dredge & Dock worth $602,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nuveen LLC purchased a new stake in Great Lakes Dredge & Dock in the first quarter valued at approximately $3,960,000. Wittenberg Investment Management Inc. lifted its stake in Great Lakes Dredge & Dock by 25.9% in the first quarter. Wittenberg Investment Management Inc. now owns 228,300 shares of the construction company's stock valued at $1,986,000 after buying an additional 47,000 shares during the last quarter. CenterBook Partners LP lifted its stake in Great Lakes Dredge & Dock by 169.2% in the first quarter. CenterBook Partners LP now owns 1,121,974 shares of the construction company's stock valued at $9,761,000 after buying an additional 705,159 shares during the last quarter. Vanguard Group Inc. lifted its stake in Great Lakes Dredge & Dock by 0.8% in the first quarter. Vanguard Group Inc. now owns 3,907,174 shares of the construction company's stock valued at $33,992,000 after buying an additional 29,586 shares during the last quarter. Finally, Mirabaud & Cie SA purchased a new stake in Great Lakes Dredge & Dock in the first quarter valued at approximately $209,000. Hedge funds and other institutional investors own 89.11% of the company's stock.

Wall Street Analyst Weigh In

GLDD has been the subject of a number of research reports. Wall Street Zen upgraded Great Lakes Dredge & Dock from a "hold" rating to a "buy" rating in a research note on Monday, May 19th. Zacks Research upgraded Great Lakes Dredge & Dock to a "strong-buy" rating in a research note on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Strong Buy" and an average price target of $14.00.

Great Lakes Dredge & Dock Stock Performance

Shares of Great Lakes Dredge & Dock stock traded up $0.43 during trading hours on Friday, hitting $11.92. 420,858 shares of the company were exchanged, compared to its average volume of 439,769. Great Lakes Dredge & Dock Corporation has a 1 year low of $7.51 and a 1 year high of $12.89. The company has a current ratio of 1.15, a quick ratio of 1.02 and a debt-to-equity ratio of 0.87. The business has a 50-day moving average of $11.50 and a 200-day moving average of $10.29. The stock has a market capitalization of $810.50 million, a price-to-earnings ratio of 11.35, a P/E/G ratio of 0.98 and a beta of 1.35.

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

Insider Transactions at Great Lakes Dredge & Dock

In other Great Lakes Dredge & Dock news, 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 completion of the transaction, the director owned 20,404 shares in the company, valued at approximately $236,482.36. This represents a 19.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.20% of the company's stock.

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.