SG Americas Securities LLC Sells 78,231 Shares of Great Lakes Dredge & Dock Corporation $GLDD

Key Points

• SG Americas Securities LLC reduced its stake in Great Lakes Dredge & Dock by 73.9% in the first quarter, selling 78,231 shares and leaving it with 27,615 shares worth about $469,000.
• Other large institutional investors remain heavily involved in the stock, and overall 89.11% of Great Lakes Dredge & Dock shares are owned by institutions.
• The stock recently traded near its 52-week high at $17.00, while analysts currently view it as a Hold on average with a consensus price target of $17.00.

SG Americas Securities LLC cut its position in shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD - Free Report) by 73.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 27,615 shares of the construction company's stock after selling 78,231 shares during the quarter. SG Americas Securities LLC's holdings in Great Lakes Dredge & Dock were worth $469,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its position in shares of Great Lakes Dredge & Dock by 0.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,323,251 shares of the construction company's stock worth $51,835,000 after buying an additional 35,044 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Great Lakes Dredge & Dock by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 3,987,334 shares of the construction company's stock valued at $52,314,000 after acquiring an additional 108,033 shares during the last quarter. Millennium Management LLC increased its position in shares of Great Lakes Dredge & Dock by 39.4% during the fourth quarter. Millennium Management LLC now owns 1,597,481 shares of the construction company's stock valued at $20,959,000 after acquiring an additional 451,346 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Great Lakes Dredge & Dock by 12.6% during the third quarter. JPMorgan Chase & Co. now owns 888,739 shares of the construction company's stock worth $10,656,000 after acquiring an additional 99,463 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in Great Lakes Dredge & Dock by 120.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 634,720 shares of the construction company's stock worth $8,328,000 after acquiring an additional 347,334 shares during the period. 89.11% of the stock is owned by institutional investors.

Great Lakes Dredge & Dock Price Performance

Great Lakes Dredge & Dock stock opened at $17.00 on Thursday. The business's 50 day simple moving average is $15.47 and its 200 day simple moving average is $15.73. Great Lakes Dredge & Dock Corporation has a 12 month low of $8.80 and a 12 month high of $17.02. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 15.89, a PEG ratio of 1.26 and a beta of 1.38. The company has a current ratio of 1.01, a quick ratio of 0.88 and a debt-to-equity ratio of 0.73.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on GLDD shares. Wall Street Zen raised Great Lakes Dredge & Dock to a "strong-buy" rating in a research report on Saturday, April 4th. JPMorgan Chase & Co. cut Great Lakes Dredge & Dock from a "neutral" rating to an "underweight" rating and set a $17.00 target price on the stock. in a research note on Thursday, March 26th. Finally, CJS Securities reissued a "market perform" rating on shares of Great Lakes Dredge & Dock in a report on Wednesday, March 11th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Great Lakes Dredge & Dock has a consensus rating of "Hold" and a consensus price target of $17.00.

About Great Lakes Dredge & Dock

Great Lakes Dredge & Dock Corporation NASDAQ: GLDD is a leading provider of dredging and maritime construction services in the United States. The company specializes in the excavation and removal of sediment from waterways, harbors, ports and coastal areas to maintain navigability and support commercial shipping. Its operations encompass both maintenance dredging—removing accumulated material to restore channel depth—and new work projects such as land reclamation and harbor deepening.

In addition to traditional dredging, Great Lakes Dredge & Dock offers a range of complementary marine construction services.

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