Wellington Management Group LLP Lowers Stock Position in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Wellington Management Group LLP decreased its stake in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD - Free Report) by 17.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 277,253 shares of the construction company's stock after selling 56,704 shares during the quarter. Wellington Management Group LLP owned approximately 0.41% of Great Lakes Dredge & Dock worth $3,130,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. AlphaQuest LLC acquired a new stake in Great Lakes Dredge & Dock in the fourth quarter valued at approximately $33,000. Federated Hermes Inc. increased its position in shares of Great Lakes Dredge & Dock by 878.9% in the 4th 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 during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Great Lakes Dredge & Dock in the 4th quarter valued at $118,000. Semanteon Capital Management LP purchased a new stake in shares of Great Lakes Dredge & Dock during the 4th quarter worth $130,000. Finally, KLP Kapitalforvaltning AS purchased a new position in Great Lakes Dredge & Dock in the fourth quarter valued at $132,000. 89.11% of the stock is owned by institutional investors and hedge funds.

Great Lakes Dredge & Dock Stock Up 1.7%

Shares of NASDAQ:GLDD traded up $0.20 during trading on Friday, hitting $11.72. 393,997 shares of the company were exchanged, compared to its average volume of 473,865. The firm's 50 day moving average price is $9.84 and its 200-day moving average price is $10.43. Great Lakes Dredge & Dock Co. has a 12-month low of $7.51 and a 12-month high of $12.89. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.21 and a quick ratio of 1.01. The stock has a market capitalization of $796.09 million, a P/E ratio of 13.95, a PEG ratio of 1.06 and a beta of 1.29.

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

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

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Great Lakes Dredge & Dock news, SVP Eleni Beyko sold 22,579 shares of the company'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 completion of the sale, the senior vice president now directly owns 50,138 shares of the company's stock, valued at $514,415.88. This represents a 31.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronald Steger sold 5,000 shares of the 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 sale, the director now directly owns 20,404 shares of the company's stock, 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. 2.20% of the stock is currently owned by corporate 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.