Thompson Davis & CO. Inc. Raises Position in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD)

Key Points

• Thompson Davis & CO. Inc. significantly increased its stake in Great Lakes Dredge & Dock Corporation by 149.0% during Q1, now holding 54,650 shares valued at approximately $475,000.
• Several institutional investors, including American Century Companies Inc. and Fox Run Management L.L.C., also raised their positions in the company, indicating strong institutional interest with 89.11% of the stock owned by institutional investors.
• Great Lakes Dredge & Dock recently reported earnings per share of $0.14 for the last quarter, exceeding analyst expectations, while analysts forecast an EPS of 0.69 for the current fiscal year.

Thompson Davis & CO. Inc. increased its holdings in shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD - Free Report) by 149.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,650 shares of the construction company's stock after acquiring an additional 32,700 shares during the period. Thompson Davis & CO. Inc. owned approximately 0.08% of Great Lakes Dredge & Dock worth $475,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. American Century Companies Inc. grew its position in shares of Great Lakes Dredge & Dock by 22.0% in the 1st quarter. American Century Companies Inc. now owns 1,970,775 shares of the construction company's stock worth $17,146,000 after buying an additional 355,184 shares during the last quarter. Brandywine Global Investment Management LLC acquired a new stake in Great Lakes Dredge & Dock during the 1st quarter valued at approximately $2,130,000. Fox Run Management L.L.C. lifted its stake in Great Lakes Dredge & Dock by 88.9% during the 1st quarter. Fox Run Management L.L.C. now owns 69,234 shares of the construction company's stock valued at $602,000 after acquiring an additional 32,589 shares during the period. Nuveen LLC purchased a new position in shares of Great Lakes Dredge & Dock during the 1st quarter valued at approximately $3,960,000. Finally, Wittenberg Investment Management Inc. increased its holdings in shares of Great Lakes Dredge & Dock by 25.9% during the 1st quarter. Wittenberg Investment Management Inc. now owns 228,300 shares of the construction company's stock valued at $1,986,000 after purchasing an additional 47,000 shares in the last quarter. Institutional investors own 89.11% of the company's stock.

Analyst Ratings Changes

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

Great Lakes Dredge & Dock Price Performance

Great Lakes Dredge & Dock stock opened at $11.37 on Friday. Great Lakes Dredge & Dock Corporation has a one year low of $7.51 and a one year high of $12.89. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.02 and a current ratio of 1.15. The business has a fifty day moving average of $11.51 and a two-hundred day moving average of $10.27. The company has a market cap of $773.16 million, a P/E ratio of 10.83, a price-to-earnings-growth ratio of 0.96 and a beta of 1.35.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The construction company reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.08 by $0.06. The business had revenue of $193.76 million during the quarter, compared to analysts' expectations of $177.70 million. Great Lakes Dredge & Dock had a return on equity of 15.61% and a net margin of 8.63%. As a group, analysts predict that Great Lakes Dredge & Dock Corporation will post 0.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Great Lakes Dredge & Dock

In related news, Director Ronald Steger sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $11.59, for a total transaction of $57,950.00. Following the transaction, the director directly owned 20,404 shares of the company's stock, valued at approximately $236,482.36. The trade was a 19.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.20% of the stock is owned by corporate insiders.

About Great Lakes Dredge & Dock

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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