Squarepoint Ops LLC boosted its stake in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD - Free Report) by 70.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,538 shares of the construction company's stock after buying an additional 25,472 shares during the period. Squarepoint Ops LLC owned 0.09% of Great Lakes Dredge & Dock worth $695,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in the stock. American Capital Advisory LLC purchased a new stake in shares of Great Lakes Dredge & Dock during the fourth quarter valued at about $1,034,000. Sanctuary Advisors LLC raised its stake in shares of Great Lakes Dredge & Dock by 0.4% during the 4th quarter. Sanctuary Advisors LLC now owns 235,282 shares of the construction company's stock worth $2,623,000 after acquiring an additional 979 shares in the last quarter. New York State Common Retirement Fund lifted its position in Great Lakes Dredge & Dock by 64.8% during the fourth quarter. New York State Common Retirement Fund now owns 14,753 shares of the construction company's stock valued at $167,000 after acquiring an additional 5,800 shares during the last quarter. Passumpsic Savings Bank acquired a new stake in Great Lakes Dredge & Dock in the fourth quarter valued at approximately $135,000. Finally, Bank of New York Mellon Corp grew its holdings in Great Lakes Dredge & Dock by 17.6% in the fourth quarter. Bank of New York Mellon Corp now owns 239,970 shares of the construction company's stock worth $2,709,000 after purchasing an additional 35,831 shares during the last quarter. Institutional investors own 89.11% of the company's stock.
Great Lakes Dredge & Dock Stock Down 0.5%
NASDAQ GLDD traded down $0.06 during trading on Thursday, hitting $11.52. The company's stock had a trading volume of 260,664 shares, compared to its average volume of 473,406. 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 market cap of $782.17 million, a PE ratio of 13.71, a P/E/G ratio of 1.06 and a beta of 1.23. 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 business's 50 day simple moving average is $9.73 and its 200-day simple 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 EPS for the quarter, topping analysts' consensus estimates of $0.25 by $0.24. The company had revenue of $242.87 million during the quarter, compared to analysts' expectations of $206.70 million. Great Lakes Dredge & Dock had a net margin of 7.51% and a return on equity of 13.72%. On average, equities analysts anticipate 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 shares. This buyback authorization allows the construction company to reacquire up to 8.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.
Insider Transactions at Great Lakes Dredge & Dock
In related news, Director Ronald Steger sold 5,000 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $11.59, for a total value of $57,950.00. Following the transaction, the director now owns 20,404 shares in the company, valued at approximately $236,482.36. This represents a 19.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Eleni Beyko sold 22,579 shares of Great Lakes Dredge & Dock stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $10.26, for a total transaction of $231,660.54. Following the sale, the senior vice president now 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 disclosure for this sale can be found here. Insiders own 2.20% of the company's stock.
Wall Street Analyst Weigh In
Separately, Wall Street Zen upgraded Great Lakes Dredge & Dock from a "hold" rating to a "buy" rating in a report on Monday, May 19th.
View Our Latest Stock Report on Great Lakes Dredge & Dock
Great Lakes Dredge & Dock Company Profile
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Free Report)
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.
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