Minerva Advisors LLC Has $12.09 Million Stock Holdings in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD)

Key Points

• Minerva Advisors LLC increased its stake in Great Lakes Dredge & Dock Corporation by 3.6% in the first quarter, acquiring an additional 48,000 shares and making the company its 4th largest holding.
• Great Lakes Dredge & Dock recently received an upgrade from “hold” to “buy” by Wall Street Zen on May 19th.
• Insiders at Great Lakes Dredge & Dock sold shares recently, with the director reducing ownership by 19.68% and the senior vice president decreasing theirs by 31.05% following their transactions.

Minerva Advisors LLC grew its stake in shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD - Free Report) by 3.6% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,389,807 shares of the construction company's stock after buying an additional 48,000 shares during the period. Great Lakes Dredge & Dock makes up 7.5% of Minerva Advisors LLC's investment portfolio, making the stock its 4th biggest holding. Minerva Advisors LLC owned about 2.06% of Great Lakes Dredge & Dock worth $12,091,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in GLDD. XTX Topco Ltd acquired a new stake in shares of Great Lakes Dredge & Dock during the first quarter worth approximately $130,000. Corton Capital Inc. acquired a new stake in shares of Great Lakes Dredge & Dock during the first quarter worth approximately $269,000. TCW Group Inc. increased its holdings in shares of Great Lakes Dredge & Dock by 4.0% during the first quarter. TCW Group Inc. now owns 2,153,534 shares of the construction company's stock worth $18,736,000 after buying an additional 82,700 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Great Lakes Dredge & Dock by 34.9% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,523 shares of the construction company's stock worth $187,000 after buying an additional 5,568 shares in the last quarter. Finally, Prescott Group Capital Management L.L.C. increased its holdings in shares of Great Lakes Dredge & Dock by 5.5% during the first quarter. Prescott Group Capital Management L.L.C. now owns 576,870 shares of the construction company's stock worth $5,019,000 after buying an additional 30,000 shares in the last quarter. Institutional investors and hedge funds own 89.11% of the company's stock.

Insiders Place Their Bets

In related news, Director Ronald Steger sold 5,000 shares of the firm's stock in a transaction 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 directly owned 20,404 shares in the company, valued at $236,482.36. This trade represents a 19.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Eleni Beyko sold 22,579 shares of the firm's stock in a transaction 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 sale, the senior vice president owned 50,138 shares in the company, valued at approximately $514,415.88. The trade was a 31.05% 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.

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.

Great Lakes Dredge & Dock Trading Down 5.0%

GLDD stock traded down $0.55 during midday trading on Friday, reaching $10.53. The company's stock had a trading volume of 549,697 shares, compared to its average volume of 375,791. Great Lakes Dredge & Dock Corporation has a 52 week low of $7.51 and a 52 week high of $12.89. The stock has a market cap of $715.26 million, a PE ratio of 10.32, a price-to-earnings-growth ratio of 0.97 and a beta of 1.30. The company has a quick ratio of 1.20, a current ratio of 1.33 and a debt-to-equity ratio of 0.86. The business's 50-day simple moving average is $11.50 and its 200-day simple moving average is $10.31.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The construction company reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.25 by $0.24. The firm had revenue of $242.87 million for the quarter, compared to analysts' expectations of $206.70 million. Great Lakes Dredge & Dock had a net margin of 8.63% and a return on equity of 15.72%. As a group, sell-side analysts expect that Great Lakes Dredge & Dock Corporation will post 0.69 EPS for the current year.

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.