Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) Stock Holdings Trimmed by American Capital Advisory LLC

American Capital Advisory LLC lessened its stake in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD - Free Report) by 46.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,736 shares of the construction company's stock after selling 42,842 shares during the quarter. American Capital Advisory LLC owned about 0.07% of Great Lakes Dredge & Dock worth $424,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. New York State Common Retirement Fund lifted its stake in shares of Great Lakes Dredge & Dock by 64.8% in the 4th quarter. New York State Common Retirement Fund now owns 14,753 shares of the construction company's stock valued at $167,000 after purchasing an additional 5,800 shares in the last quarter. Bank of New York Mellon Corp increased its position in Great Lakes Dredge & Dock by 17.6% during the 4th quarter. Bank of New York Mellon Corp now owns 239,970 shares of the construction company's stock worth $2,709,000 after purchasing an additional 35,831 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Great Lakes Dredge & Dock in the fourth quarter valued at approximately $220,000. Raymond James Financial Inc. acquired a new position in Great Lakes Dredge & Dock during the fourth quarter valued at approximately $2,322,000. Finally, Jackson Creek Investment Advisors LLC purchased a new stake in Great Lakes Dredge & Dock during the fourth quarter worth approximately $1,468,000. 89.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Transactions at Great Lakes Dredge & Dock

In other news, SVP Eleni Beyko sold 22,579 shares of the 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 completion of the transaction, the senior vice president directly owned 50,138 shares in the company, valued at approximately $514,415.88. This represents a 31.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ronald Steger sold 5,000 shares of Great Lakes Dredge & Dock stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $11.59, for a total transaction of $57,950.00. Following the completion of the sale, the director owned 20,404 shares of the company's stock, valued at approximately $236,482.36. This trade represents a 19.68% decrease in their position. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by insiders.

Great Lakes Dredge & Dock Stock Up 0.4%

Shares of GLDD traded up $0.05 during midday trading on Thursday, reaching $12.01. 283,161 shares of the company were exchanged, compared to its average volume of 484,313. Great Lakes Dredge & Dock Corporation has a 1-year low of $7.51 and a 1-year high of $12.89. The stock has a 50-day moving average price of $11.11 and a 200-day moving average price of $10.35. The company has a current ratio of 1.33, a quick ratio of 1.20 and a debt-to-equity ratio of 0.86. The company has a market cap of $815.50 million, a price-to-earnings ratio of 11.77, a P/E/G ratio of 1.04 and a beta of 1.30.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last released its quarterly 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. Great Lakes Dredge & Dock had a return on equity of 15.72% and a net margin of 8.63%. The firm had revenue of $242.87 million for the quarter, compared to analyst estimates of $206.70 million. Research analysts expect that Great Lakes Dredge & Dock Corporation will post 0.69 earnings per share for the current year.

Great Lakes Dredge & Dock declared that its Board of Directors has authorized a stock buyback program on Friday, March 14th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the construction company to purchase up to 8.6% of its shares through open market purchases. Shares 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.