Nuveen Asset Management LLC Increases Stake in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Nuveen Asset Management LLC increased its position in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD - Free Report) by 31.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 603,867 shares of the construction company's stock after purchasing an additional 144,168 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.90% of Great Lakes Dredge & Dock worth $6,818,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Millennium Management LLC grew its holdings in Great Lakes Dredge & Dock by 254.3% during the 4th quarter. Millennium Management LLC now owns 698,071 shares of the construction company's stock worth $7,881,000 after acquiring an additional 501,032 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Great Lakes Dredge & Dock by 3.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,537 shares of the construction company's stock worth $424,000 after purchasing an additional 1,235 shares during the period. Lazard Asset Management LLC bought a new position in shares of Great Lakes Dredge & Dock during the fourth quarter valued at approximately $118,000. Graham Capital Management L.P. increased its holdings in Great Lakes Dredge & Dock by 79.4% during the fourth quarter. Graham Capital Management L.P. now owns 47,143 shares of the construction company's stock valued at $532,000 after buying an additional 20,860 shares during the period. Finally, Deutsche Bank AG increased its holdings in Great Lakes Dredge & Dock by 51.4% during the fourth quarter. Deutsche Bank AG now owns 58,705 shares of the construction company's stock valued at $663,000 after buying an additional 19,943 shares during the period. Institutional investors own 89.11% of the company's stock.

Great Lakes Dredge & Dock Stock Up 2.5%

GLDD stock traded up $0.28 during trading on Tuesday, reaching $11.62. 645,361 shares of the company traded hands, compared to its average volume of 474,229. The business has a 50 day simple moving average of $9.73 and a 200 day simple moving average of $10.43. Great Lakes Dredge & Dock Co. has a 12 month low of $7.51 and a 12 month high of $12.89. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.01 and a current ratio of 1.21. The company has a market capitalization of $789.30 million, a price-to-earnings ratio of 13.83, a price-to-earnings-growth ratio of 1.06 and a beta of 1.23.

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 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $242.87 million for the quarter, compared to analysts' expectations of $206.70 million. On average, equities research 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 of Directors has initiated a stock buyback plan on Friday, March 14th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the construction company to purchase up to 8.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Insider Activity at Great Lakes Dredge & Dock

In other Great Lakes Dredge & Dock news, SVP Eleni Beyko sold 22,579 shares of Great Lakes Dredge & Dock stock in a transaction 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 transaction, the senior vice president now directly owns 50,138 shares of the company's stock, valued at approximately $514,415.88. The trade was a 31.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

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.