MassMutual Private Wealth & Trust FSB Has $41,000 Stock Position in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

MassMutual Private Wealth & Trust FSB lessened its holdings in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD - Free Report) by 88.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,767 shares of the construction company's stock after selling 35,233 shares during the period. MassMutual Private Wealth & Trust FSB's holdings in Great Lakes Dredge & Dock were worth $41,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Castlekeep Investment Advisors LLC bought a new position in Great Lakes Dredge & Dock during the 4th quarter worth $62,958,000. Dimensional Fund Advisors LP increased its position in Great Lakes Dredge & Dock by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,443,586 shares of the construction company's stock worth $50,168,000 after buying an additional 22,370 shares during the period. Vanguard Group Inc. increased 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 buying an additional 27,610 shares during the period. American Century Companies Inc. increased its position in Great Lakes Dredge & Dock by 40.7% during the 4th quarter. American Century Companies Inc. now owns 1,615,591 shares of the construction company's stock worth $18,240,000 after buying an additional 467,164 shares during the period. Finally, JPMorgan Chase & Co. increased its position 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. Institutional investors own 89.11% of the company's stock.

Great Lakes Dredge & Dock Price Performance

Shares of GLDD traded down $0.05 during trading hours on Wednesday, hitting $11.57. 409,557 shares of the company were exchanged, compared to its average volume of 473,972. The company has a market cap of $785.90 million, a price-to-earnings ratio of 13.77, a P/E/G ratio of 1.06 and a beta of 1.23. Great Lakes Dredge & Dock Co. has a fifty-two week low of $7.51 and a fifty-two week high of $12.89. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.97. The firm's fifty day moving average is $9.73 and its 200 day moving average is $10.43.

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

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Great Lakes Dredge & Dock

In other news, SVP Eleni Beyko sold 22,579 shares of Great Lakes Dredge & Dock stock in a transaction dated 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. This trade represents a 31.05% decrease in their ownership of the stock. The sale 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 Great Lakes Dredge & Dock 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 transaction, the director now directly owns 20,404 shares in the company, valued at approximately $236,482.36. This represents a 19.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.20% of the company's stock.

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.