Total Wealth Planning & Management Inc. Has $128,000 Stake in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD)

Total Wealth Planning & Management Inc. lowered its stake in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD - Free Report) by 68.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,750 shares of the construction company's stock after selling 31,450 shares during the quarter. Total Wealth Planning & Management Inc.'s holdings in Great Lakes Dredge & Dock were worth $128,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AlphaQuest LLC bought a new position in shares of Great Lakes Dredge & Dock during the 4th quarter worth approximately $33,000. Byrne Asset Management LLC acquired a new position in Great Lakes Dredge & Dock during the first quarter worth $40,000. Federated Hermes Inc. grew its position in Great Lakes Dredge & Dock by 878.9% in the fourth quarter. Federated Hermes Inc. now owns 5,619 shares of the construction company's stock valued at $63,000 after purchasing an additional 5,045 shares in the last quarter. Lazard Asset Management LLC bought a new position in Great Lakes Dredge & Dock in the fourth quarter valued at $118,000. Finally, Semanteon Capital Management LP acquired a new stake in Great Lakes Dredge & Dock in the 4th quarter valued at $130,000. Institutional investors and hedge funds own 89.11% of the company's stock.

Great Lakes Dredge & Dock Stock Down 3.1%

Shares of Great Lakes Dredge & Dock stock traded down $0.38 on Tuesday, reaching $11.81. 359,236 shares of the company were exchanged, compared to its average volume of 481,846. The company has a market capitalization of $802.05 million, a price-to-earnings ratio of 11.57, a PEG ratio of 1.07 and a beta of 1.29. 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 one year low of $7.51 and a one year high of $12.89. The company has a 50-day moving average of $10.93 and a 200 day moving average of $10.33.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The construction company reported $0.49 EPS for the quarter, beating analysts' consensus estimates of $0.25 by $0.24. The company had revenue of $242.87 million during the quarter, compared to the consensus estimate of $206.70 million. Great Lakes Dredge & Dock had a net margin of 8.63% and a return on equity of 15.72%. On average, equities research analysts forecast that Great Lakes Dredge & Dock Corporation will post 0.69 earnings per share for the current year.

Great Lakes Dredge & Dock declared that its Board of Directors has approved a share buyback plan on Friday, March 14th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the construction company to reacquire up to 8.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its shares are undervalued.

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.

Insider Buying and Selling

In other Great Lakes Dredge & Dock news, SVP Eleni Beyko sold 22,579 shares of Great Lakes Dredge & Dock stock in a transaction 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 completion of the transaction, the senior vice president directly owned 50,138 shares of the company's stock, valued at $514,415.88. The trade was a 31.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ronald Steger sold 5,000 shares of the stock in a transaction dated 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 directly owned 20,404 shares in the company, valued at $236,482.36. The trade was 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 Company 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.