Total Wealth Planning & Management Inc. Sells 31,450 Shares of 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% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in GLDD. AlphaQuest LLC acquired a new position in shares of Great Lakes Dredge & Dock in the fourth quarter valued at approximately $33,000. Byrne Asset Management LLC acquired a new position in shares of Great Lakes Dredge & Dock in the first quarter valued at approximately $40,000. Federated Hermes Inc. increased its stake in shares of 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 buying an additional 5,045 shares during the period. Lazard Asset Management LLC acquired a new position in shares of Great Lakes Dredge & Dock in the fourth quarter valued at approximately $118,000. Finally, Semanteon Capital Management LP acquired a new position in shares of Great Lakes Dredge & Dock in the fourth quarter valued at approximately $130,000. Institutional investors own 89.11% of the company's stock.

Insider Transactions at Great Lakes Dredge & Dock

In other news, Director Ronald Steger sold 5,000 shares of the firm's stock in a transaction that occurred 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 sale, the director now owns 20,404 shares of the company's stock, valued at $236,482.36. This trade represents a 19.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Eleni Beyko sold 22,579 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $10.26, for a total transaction of $231,660.54. Following the sale, the senior vice president now directly owns 50,138 shares of the company's stock, valued at approximately $514,415.88. This trade represents a 31.05% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.20% of the company's stock.

Great Lakes Dredge & Dock Stock Performance

NASDAQ:GLDD opened at $12.23 on Friday. The company has a market capitalization of $830.78 million, a PE ratio of 11.99, a P/E/G ratio of 1.05 and a beta of 1.29. The company has a 50 day simple moving average of $10.79 and a two-hundred day simple moving average of $10.36. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.20 and a current ratio of 1.33. Great Lakes Dredge & Dock Corporation has a fifty-two week low of $7.51 and a fifty-two week high of $12.89.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last released its earnings results on Tuesday, May 6th. The construction company reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates of $0.25 by $0.24. The business 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%. Research analysts anticipate 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 initiated a share repurchase program on Friday, March 14th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the construction company to purchase up to 8.6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

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.

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