TCW Group Inc. Has $18.74 Million Stock Position in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD)

Key Points

• TCW Group Inc. increased its stake in Great Lakes Dredge & Dock Corporation by 4.0%, now owning 2,153,534 shares worth approximately $18.7 million.
• Analyst upgrades include a shift from a "hold" rating to a "buy" rating by Wall Street Zen on May 19th.
• The company reported $0.49 earnings per share for the quarter, significantly surpassing analysts' expectations of $0.25.

TCW Group Inc. raised its stake in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD - Free Report) by 4.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,153,534 shares of the construction company's stock after purchasing an additional 82,700 shares during the quarter. TCW Group Inc. owned about 3.20% of Great Lakes Dredge & Dock worth $18,736,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Castlekeep Investment Advisors LLC acquired a new position in Great Lakes Dredge & Dock during the 4th quarter worth approximately $62,958,000. Jennison Associates LLC grew its holdings in Great Lakes Dredge & Dock by 22.7% during the 1st quarter. Jennison Associates LLC now owns 5,310,894 shares of the construction company's stock valued at $46,205,000 after purchasing an additional 981,652 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Great Lakes Dredge & Dock by 259.6% during the 4th quarter. JPMorgan Chase & Co. now owns 820,397 shares of the construction company's stock worth $9,262,000 after buying an additional 592,276 shares during the period. Millennium Management LLC lifted its holdings in Great Lakes Dredge & Dock by 254.3% in the 4th quarter. Millennium Management LLC now owns 698,071 shares of the construction company's stock worth $7,881,000 after buying an additional 501,032 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Great Lakes Dredge & Dock by 40.7% during the fourth quarter. American Century Companies Inc. now owns 1,615,591 shares of the construction company's stock valued at $18,240,000 after acquiring an additional 467,164 shares in the last quarter. Institutional investors and hedge funds own 89.11% of the company's stock.

Great Lakes Dredge & Dock Stock Down 0.2%

GLDD traded down $0.02 during trading on Tuesday, hitting $11.40. The company had a trading volume of 262,026 shares, compared to its average volume of 383,866. The company has a market cap of $774.40 million, a PE ratio of 11.18, a P/E/G ratio of 0.99 and a beta of 1.30. Great Lakes Dredge & Dock Corporation has a 1-year low of $7.51 and a 1-year high of $12.89. The business has a 50-day moving average of $11.49 and a 200-day moving average of $10.31. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.33 and a quick ratio of 1.20.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The construction company reported $0.49 EPS for the quarter, topping analysts' consensus estimates of $0.25 by $0.24. The firm 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 15.72% and a net margin of 8.63%. As a group, analysts forecast that Great Lakes Dredge & Dock Corporation will post 0.69 earnings per share for the current year.

Insider Transactions at Great Lakes Dredge & Dock

In related news, SVP Eleni Beyko sold 22,579 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $10.26, for a total transaction of $231,660.54. Following the transaction, the senior vice president owned 50,138 shares in the company, valued at $514,415.88. This trade represents a 31.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronald Steger sold 5,000 shares of the company'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 completion of the sale, the director owned 20,404 shares of the company's stock, valued at $236,482.36. This trade represents a 19.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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 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.