SG Americas Securities LLC Has $795,000 Position in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD)

SG Americas Securities LLC reduced its stake in shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD - Free Report) by 25.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 91,323 shares of the construction company's stock after selling 30,575 shares during the period. SG Americas Securities LLC owned approximately 0.14% of Great Lakes Dredge & Dock worth $795,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in Great Lakes Dredge & Dock by 800.5% in the first quarter. GAMMA Investing LLC now owns 16,965 shares of the construction company's stock valued at $148,000 after buying an additional 15,081 shares during the period. Total Wealth Planning & Management Inc. bought a new position in Great Lakes Dredge & Dock in the 4th quarter valued at $522,000. Mackenzie Financial Corp bought a new position in Great Lakes Dredge & Dock in the 4th quarter valued at $223,000. Castlekeep Investment Advisors LLC bought a new position in Great Lakes Dredge & Dock in the 4th quarter valued at $5,521,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Great Lakes Dredge & Dock by 14.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 243,724 shares of the construction company's stock worth $2,752,000 after acquiring an additional 30,394 shares during the period. 89.11% of the stock is currently owned by institutional investors and hedge funds.

Great Lakes Dredge & Dock Stock Performance

GLDD traded up $0.44 during trading on Monday, reaching $12.15. The company's stock had a trading volume of 872,370 shares, compared to its average volume of 478,986. The company's fifty day moving average price is $10.59 and its 200-day moving average price is $10.33. The company has a market capitalization of $825.35 million, a price-to-earnings ratio of 11.91, a price-to-earnings-growth ratio of 1.02 and a beta of 1.29. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.20 and a current ratio of 1.33. Great Lakes Dredge & Dock Corporation has a 52-week low of $7.51 and a 52-week high of $12.89.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The construction company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.24. Great Lakes Dredge & Dock had a return on equity of 15.72% and a net margin of 8.63%. The company had revenue of $242.87 million during the quarter, compared to the consensus estimate of $206.70 million. On average, equities analysts forecast that Great Lakes Dredge & Dock Corporation will post 0.69 earnings per share for the current fiscal year.

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

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, SVP Eleni Beyko sold 22,579 shares of the business's stock in a transaction dated 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 now owns 50,138 shares in the company, valued at approximately $514,415.88. The trade was a 31.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ronald Steger sold 5,000 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was 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 in the company, valued at $236,482.36. This 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 corporate insiders.

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.