Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) Position Reduced by Teacher Retirement System of Texas

Teacher Retirement System of Texas decreased its stake in shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD - Free Report) by 63.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 42,190 shares of the construction company's stock after selling 72,993 shares during the period. Teacher Retirement System of Texas owned 0.06% of Great Lakes Dredge & Dock worth $367,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AlphaQuest LLC acquired a new position in Great Lakes Dredge & Dock during the fourth quarter worth approximately $33,000. GAMMA Investing LLC increased its position in Great Lakes Dredge & Dock by 800.5% during the first quarter. GAMMA Investing LLC now owns 16,965 shares of the construction company's stock worth $148,000 after purchasing an additional 15,081 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Great Lakes Dredge & Dock by 14.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 243,724 shares of the construction company's stock worth $2,752,000 after purchasing an additional 30,394 shares during the last quarter. Quantbot Technologies LP increased its position in Great Lakes Dredge & Dock by 29.8% during the fourth quarter. Quantbot Technologies LP now owns 19,429 shares of the construction company's stock worth $219,000 after purchasing an additional 4,456 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Great Lakes Dredge & Dock during the fourth quarter worth approximately $2,322,000. Institutional investors and hedge funds own 89.11% of the company's stock.

Insider Activity at Great Lakes Dredge & Dock

In other news, SVP Eleni Beyko sold 22,579 shares of the company's 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 completion of the transaction, the senior vice president directly owned 50,138 shares in the company, valued at approximately $514,415.88. This represents a 31.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronald Steger sold 5,000 shares of the company'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 completion of the transaction, the director owned 20,404 shares of the company's stock, valued at $236,482.36. This trade represents a 19.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Great Lakes Dredge & Dock Trading Up 0.8%

GLDD traded up $0.09 during trading on Monday, hitting $11.25. 372,511 shares of the company's stock were exchanged, compared to its average volume of 484,265. The company has a current ratio of 1.33, a quick ratio of 1.20 and a debt-to-equity ratio of 0.86. Great Lakes Dredge & Dock Corporation has a 1 year low of $7.51 and a 1 year high of $12.89. The stock has a 50 day moving average price of $11.47 and a 200 day moving average price of $10.31. The firm has a market cap of $764.21 million, a P/E ratio of 11.03, a price-to-earnings-growth ratio of 0.97 and a beta of 1.30.

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 (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.24. Great Lakes Dredge & Dock had a net margin of 8.63% and a return on equity of 15.72%. The company had revenue of $242.87 million during the quarter, compared to the consensus estimate of $206.70 million. As a group, analysts expect that Great Lakes Dredge & Dock Corporation will post 0.69 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Great Lakes Dredge & Dock from a "hold" rating to a "buy" rating in a research 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.