Two Sigma Investments LP Has $1.07 Million Stake in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Two Sigma Investments LP decreased its stake in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD - Free Report) by 34.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 94,489 shares of the construction company's stock after selling 48,989 shares during the period. Two Sigma Investments LP owned approximately 0.14% of Great Lakes Dredge & Dock worth $1,067,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in GLDD. AlphaQuest LLC bought a new position in Great Lakes Dredge & Dock during the 4th quarter worth about $33,000. Federated Hermes Inc. boosted its position in Great Lakes Dredge & Dock by 878.9% during the 4th quarter. Federated Hermes Inc. now owns 5,619 shares of the construction company's stock worth $63,000 after acquiring an additional 5,045 shares during the last quarter. Lazard Asset Management LLC bought a new position in shares of Great Lakes Dredge & Dock during the 4th quarter worth approximately $118,000. Semanteon Capital Management LP acquired a new stake in shares of Great Lakes Dredge & Dock in the fourth quarter valued at approximately $130,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Great Lakes Dredge & Dock in the fourth quarter worth $132,000. 89.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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 Down 2.0%

Shares of Great Lakes Dredge & Dock stock traded down $0.24 on Monday, reaching $11.48. 453,361 shares of the company were exchanged, compared to its average volume of 475,115. The company has a market capitalization of $779.79 million, a price-to-earnings ratio of 13.67, a PEG ratio of 1.06 and a beta of 1.29. The company has a current ratio of 1.21, a quick ratio of 1.01 and a debt-to-equity ratio of 0.97. Great Lakes Dredge & Dock Co. 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 $9.90 and a 200 day moving average of $10.40.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The construction company reported $0.49 EPS for the quarter, beating analysts' consensus estimates of $0.25 by $0.24. Great Lakes Dredge & Dock had a net margin of 7.51% and a return on equity of 13.72%. The firm had revenue of $242.87 million during the quarter, compared to analysts' expectations of $206.70 million. On average, equities research analysts forecast that Great Lakes Dredge & Dock Co. will post 0.69 earnings per share for the current year.

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

Insider Activity

In other Great Lakes Dredge & Dock news, SVP Eleni Beyko sold 22,579 shares of the business'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 transaction, the senior vice president now owns 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ronald Steger sold 5,000 shares of Great Lakes Dredge & Dock stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $11.59, for a total value of $57,950.00. Following the transaction, the director now owns 20,404 shares of the company's stock, valued at $236,482.36. This represents a 19.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.20% 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.