Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) Shares Acquired by Jennison Associates LLC

Jennison Associates LLC increased its position in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD - Free Report) by 9.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,299,418 shares of the construction company's stock after acquiring an additional 366,923 shares during the quarter. Jennison Associates LLC owned approximately 6.45% of Great Lakes Dredge & Dock worth $33,020,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Group One Trading L.P. acquired a new position in Great Lakes Dredge & Dock in the third quarter valued at about $30,000. Mackenzie Financial Corp acquired a new position in Great Lakes Dredge & Dock in the third quarter valued at about $83,000. Bfsg LLC acquired a new position in Great Lakes Dredge & Dock in the third quarter valued at about $88,000. AXQ Capital LP acquired a new position in Great Lakes Dredge & Dock in the third quarter valued at about $92,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Great Lakes Dredge & Dock by 23.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,955 shares of the construction company's stock valued at $123,000 after buying an additional 3,011 shares during the last quarter. Institutional investors and hedge funds own 89.11% of the company's stock.

Analysts Set New Price Targets

GLDD has been the topic of several research reports. TheStreet raised shares of Great Lakes Dredge & Dock from a "d+" rating to a "c-" rating in a research report on Tuesday, February 20th. StockNews.com raised shares of Great Lakes Dredge & Dock from a "sell" rating to a "hold" rating in a research report on Thursday, February 15th.

Great Lakes Dredge & Dock Stock Down 3.4 %

Shares of GLDD stock traded down $0.25 during trading hours on Thursday, reaching $7.19. 290,492 shares of the stock were exchanged, compared to its average volume of 359,262. The business's fifty day moving average is $8.40 and its two-hundred day moving average is $7.78. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.26 and a quick ratio of 1.07. Great Lakes Dredge & Dock Co. has a 12-month low of $5.26 and a 12-month high of $9.78. The firm has a market capitalization of $479.86 million, a P/E ratio of 34.24, a P/E/G ratio of 1.33 and a beta of 0.96.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last released its earnings results on Wednesday, February 14th. The construction company reported $0.25 earnings per share for the quarter, topping analysts' consensus estimates of $0.09 by $0.16. Great Lakes Dredge & Dock had a net margin of 2.36% and a return on equity of 2.56%. The firm had revenue of $181.73 million for the quarter, compared to analyst estimates of $190.05 million. As a group, research analysts expect that Great Lakes Dredge & Dock Co. will post 0.57 EPS for the current fiscal year.

About Great Lakes Dredge & Dock

Great Lakes Dredge & Dock Corporation provides dredging services in the United States. The company engages in capital dredging that consists of port expansion projects; coastal restoration and land reclamations; trench digging for pipelines, tunnels, and cables; and other dredging related to the construction of breakwaters, jetties, canals, and other marine structures.