Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) Shares Bought by Wittenberg Investment Management Inc.

Key Points

• Wittenberg Investment Management Inc. increased its stake in Great Lakes Dredge & Dock by 25.9% during Q1, acquiring an additional 47,000 shares, bringing its total to 228,300 shares valued at approximately $1,986,000.
• Institutional investors collectively own 89.11% of Great Lakes Dredge & Dock's stock, with notable increases from firms like JPMorgan Chase & Co., which raised its holdings by 259.6% in the last quarter.
• Great Lakes Dredge & Dock reported a profit of $0.14 EPS for the last quarter, surpassing estimates, along with a revenue of $193.76 million compared to the expected $177.70 million.

Wittenberg Investment Management Inc. grew its holdings in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD - Free Report) by 25.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 228,300 shares of the construction company's stock after acquiring an additional 47,000 shares during the quarter. Great Lakes Dredge & Dock accounts for approximately 0.9% of Wittenberg Investment Management Inc.'s holdings, making the stock its 18th largest holding. Wittenberg Investment Management Inc. owned 0.34% of Great Lakes Dredge & Dock worth $1,986,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GLDD. KLP Kapitalforvaltning AS acquired a new position in shares of Great Lakes Dredge & Dock in the 4th quarter valued at $132,000. LPL Financial LLC purchased a new stake in Great Lakes Dredge & Dock in the fourth quarter valued at $162,000. Vanguard Group Inc. grew its position in Great Lakes Dredge & Dock by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 3,877,588 shares of the construction company's stock worth $43,778,000 after purchasing an additional 27,610 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Great Lakes Dredge & Dock by 259.6% in the 4th quarter. JPMorgan Chase & Co. now owns 820,397 shares of the construction company's stock valued at $9,262,000 after buying an additional 592,276 shares during the period. Finally, Norges Bank acquired a new stake in Great Lakes Dredge & Dock during the fourth quarter worth about $946,000. Institutional investors and hedge funds own 89.11% of the company's stock.

Insider Buying and Selling at Great Lakes Dredge & Dock

In other news, Director Ronald Steger sold 5,000 shares of Great Lakes Dredge & Dock stock in a transaction that occurred on 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 owned 20,404 shares of the company's stock, valued at approximately $236,482.36. The trade was a 19.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.20% of the company's stock.

Great Lakes Dredge & Dock Trading Down 3.3%

Shares of Great Lakes Dredge & Dock stock opened at $11.07 on Thursday. The company has a current ratio of 1.33, a quick ratio of 1.20 and a debt-to-equity ratio of 0.86. Great Lakes Dredge & Dock Corporation has a twelve month low of $7.51 and a twelve month high of $12.89. The firm has a market capitalization of $751.99 million, a PE ratio of 10.54, a P/E/G ratio of 1.00 and a beta of 1.35. The firm's 50-day moving average price is $11.50 and its 200 day moving average price is $10.29.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The construction company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.08 by $0.06. The firm had revenue of $193.76 million during the quarter, compared to analysts' expectations of $177.70 million. Great Lakes Dredge & Dock had a return on equity of 15.88% and a net margin of 8.63%. On average, sell-side analysts predict that Great Lakes Dredge & Dock Corporation will post 0.69 EPS for the current fiscal year.

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 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.

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