Teacher Retirement System of Texas Sells 72,993 Shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD)

Teacher Retirement System of Texas trimmed its stake in shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD - Free Report) by 63.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,190 shares of the construction company's stock after selling 72,993 shares during the period. Teacher Retirement System of Texas owned about 0.06% of Great Lakes Dredge & Dock worth $367,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Castlekeep Investment Advisors LLC acquired a new stake in Great Lakes Dredge & Dock in the 4th quarter valued at $62,958,000. JPMorgan Chase & Co. increased its stake in Great Lakes Dredge & Dock by 259.6% in the 4th quarter. JPMorgan Chase & Co. now owns 820,397 shares of the construction company's stock valued at $9,262,000 after buying an additional 592,276 shares during the last quarter. Millennium Management LLC increased its stake in Great Lakes Dredge & Dock by 254.3% in the 4th quarter. Millennium Management LLC now owns 698,071 shares of the construction company's stock valued at $7,881,000 after buying an additional 501,032 shares during the last quarter. American Century Companies Inc. increased its stake in Great Lakes Dredge & Dock by 40.7% in the 4th quarter. American Century Companies Inc. now owns 1,615,591 shares of the construction company's stock valued at $18,240,000 after buying an additional 467,164 shares during the last quarter. Finally, Seven Six Capital Management LLC acquired a new stake in Great Lakes Dredge & Dock in the 4th quarter valued at $3,744,000. 89.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Great Lakes Dredge & Dock Stock Performance

Shares of Great Lakes Dredge & Dock stock traded down $0.20 during trading on Friday, hitting $11.16. 409,112 shares of the stock were exchanged, compared to its average volume of 488,173. The stock has a market capitalization of $758.10 million, a price-to-earnings ratio of 10.94, a price-to-earnings-growth ratio of 0.97 and a beta of 1.30. The company has a fifty day moving average price of $11.47 and a 200-day moving average price of $10.33. Great Lakes Dredge & Dock Corporation has a 1-year low of $7.51 and a 1-year high of $12.89. 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 (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, topping the consensus estimate of $0.25 by $0.24. The company had revenue of $242.87 million for the quarter, compared to analyst estimates of $206.70 million. Great Lakes Dredge & Dock had a net margin of 8.63% and a return on equity of 15.72%. As a group, equities analysts predict that Great Lakes Dredge & Dock Corporation will post 0.69 EPS for the current fiscal year.

Insider Activity

In other news, SVP Eleni Beyko sold 22,579 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $10.26, for a total transaction of $231,660.54. Following the transaction, the senior vice president directly owned 50,138 shares in the company, valued at $514,415.88. The trade was a 31.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ronald Steger sold 5,000 shares of Great Lakes Dredge & Dock stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $11.59, for a total transaction of $57,950.00. Following the sale, the director directly owned 20,404 shares of the company's stock, valued at $236,482.36. The trade was a 19.68% decrease in their position. The disclosure for this sale can be found here. 2.20% of the stock is owned by insiders.

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.