UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $2.75 Million Stock Holdings in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD - Free Report) by 14.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 243,724 shares of the construction company's stock after buying an additional 30,394 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.36% of Great Lakes Dredge & Dock worth $2,752,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GLDD. Squarepoint Ops LLC lifted its position in shares of Great Lakes Dredge & Dock by 70.6% in the 4th quarter. Squarepoint Ops LLC now owns 61,538 shares of the construction company's stock worth $695,000 after acquiring an additional 25,472 shares during the period. Seven Six Capital Management LLC bought a new position in Great Lakes Dredge & Dock in the fourth quarter worth $3,744,000. Point72 Asset Management L.P. lifted its position in Great Lakes Dredge & Dock by 151.2% in the fourth quarter. Point72 Asset Management L.P. now owns 35,088 shares of the construction company's stock worth $396,000 after purchasing an additional 21,120 shares during the period. ProShare Advisors LLC boosted its stake in Great Lakes Dredge & Dock by 49.2% during the fourth quarter. ProShare Advisors LLC now owns 18,575 shares of the construction company's stock worth $210,000 after buying an additional 6,123 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in Great Lakes Dredge & Dock by 31.4% in the 4th quarter. Nuveen Asset Management LLC now owns 603,867 shares of the construction company's stock valued at $6,818,000 after buying an additional 144,168 shares during the period. 89.11% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Great Lakes Dredge & Dock news, Director Ronald Steger sold 5,000 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $11.59, for a total transaction of $57,950.00. Following the sale, the director now directly owns 20,404 shares of the company's stock, valued at approximately $236,482.36. This represents a 19.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Eleni Beyko sold 22,579 shares of the firm's stock in a transaction that occurred 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 now directly owns 50,138 shares of the company's stock, valued at approximately $514,415.88. The trade was a 31.05% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company's stock.

Wall Street Analyst Weigh In

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

Great Lakes Dredge & Dock Price Performance

NASDAQ GLDD traded down $0.24 during trading on Monday, reaching $11.48. 453,621 shares of the company traded hands, compared to its average volume of 475,116. Great Lakes Dredge & Dock Co. has a 1-year low of $7.51 and a 1-year high of $12.89. The company has a market cap of $779.79 million, a price-to-earnings ratio of 13.67, a P/E/G ratio of 1.06 and a beta of 1.29. The stock's 50 day moving average price is $9.95 and its two-hundred day moving average price is $10.39. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.01 and a current ratio of 1.21.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last posted its earnings results on Tuesday, May 6th. The construction company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.25 by $0.24. The business had revenue of $242.87 million during the quarter, compared to the consensus estimate of $206.70 million. Great Lakes Dredge & Dock had a return on equity of 13.72% and a net margin of 7.51%. As a group, analysts anticipate that Great Lakes Dredge & Dock Co. will post 0.69 EPS for the current year.

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

Great Lakes Dredge & Dock Company 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.