Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) Shares Bought by Northern Trust Corp

Northern Trust Corp increased its holdings in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD - Free Report) by 8.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 664,091 shares of the construction company's stock after purchasing an additional 52,644 shares during the quarter. Northern Trust Corp owned 0.99% of Great Lakes Dredge & Dock worth $7,498,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Tudor Investment Corp ET AL raised its position in Great Lakes Dredge & Dock by 44.9% in the 4th quarter. Tudor Investment Corp ET AL now owns 226,238 shares of the construction company's stock worth $2,554,000 after purchasing an additional 70,088 shares during the period. Aquatic Capital Management LLC grew its holdings in Great Lakes Dredge & Dock by 58.5% in the 4th quarter. Aquatic Capital Management LLC now owns 29,631 shares of the construction company's stock worth $335,000 after acquiring an additional 10,931 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in Great Lakes Dredge & Dock in the 4th quarter worth $384,000. Price T Rowe Associates Inc. MD grew its holdings in Great Lakes Dredge & Dock by 24.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 26,401 shares of the construction company's stock worth $299,000 after acquiring an additional 5,155 shares during the last quarter. Finally, Hsbc Holdings PLC grew its holdings in Great Lakes Dredge & Dock by 5.7% in the 4th quarter. Hsbc Holdings PLC now owns 39,984 shares of the construction company's stock worth $453,000 after acquiring an additional 2,150 shares during the last quarter. Hedge funds and other institutional investors own 89.11% of the company's stock.

Insider Activity

In other Great Lakes Dredge & Dock news, SVP Eleni Beyko sold 22,579 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $10.26, for a total value of $231,660.54. Following the completion of the transaction, the senior vice president now directly owns 50,138 shares in the company, valued at $514,415.88. This represents a 31.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Christopher Gunsten purchased 3,875 shares of the company's stock in a transaction on Tuesday, March 4th. The stock was purchased at an average price of $7.75 per share, with a total value of $30,031.25. Following the completion of the transaction, the senior vice president now owns 61,532 shares of the company's stock, valued at approximately $476,873. This trade represents a 6.72% increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.00% of the stock is owned by corporate insiders.

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 report on Monday, May 19th.

Great Lakes Dredge & Dock Trading Up 2.2%

Great Lakes Dredge & Dock stock traded up $0.24 during trading hours on Friday, reaching $10.93. The stock had a trading volume of 546,427 shares, compared to its average volume of 472,002. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.21 and a quick ratio of 1.01. The stock has a market cap of $742.43 million, a PE ratio of 13.01, a PEG ratio of 1.06 and a beta of 1.23. Great Lakes Dredge & Dock Co. has a 52 week low of $7.51 and a 52 week high of $12.89. The company has a fifty day simple moving average of $9.44 and a 200-day simple moving average of $10.48.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last released its quarterly earnings data 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 net margin of 7.51% and a return on equity of 13.72%. The firm had revenue of $242.87 million during the quarter, compared to analysts' expectations of $206.70 million. Analysts forecast that Great Lakes Dredge & Dock Co. will post 0.69 EPS for the current fiscal year.

Great Lakes Dredge & Dock declared that its Board of Directors has initiated a stock buyback program on Friday, March 14th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the construction company to repurchase up to 8.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

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.