331,599 Shares in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) Bought by Seven Six Capital Management LLC

Seven Six Capital Management LLC purchased a new position in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 331,599 shares of the construction company's stock, valued at approximately $3,744,000. Great Lakes Dredge & Dock makes up about 3.3% of Seven Six Capital Management LLC's portfolio, making the stock its 14th biggest holding. Seven Six Capital Management LLC owned approximately 0.49% of Great Lakes Dredge & Dock as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of GLDD. JPMorgan Chase & Co. lifted its stake in shares of Great Lakes Dredge & Dock by 217.8% in the third quarter. JPMorgan Chase & Co. now owns 228,121 shares of the construction company's stock worth $2,402,000 after acquiring an additional 156,341 shares in the last quarter. MassMutual Private Wealth & Trust FSB acquired a new stake in Great Lakes Dredge & Dock during the fourth quarter valued at approximately $452,000. SG Americas Securities LLC raised its stake in Great Lakes Dredge & Dock by 11.0% during the fourth quarter. SG Americas Securities LLC now owns 121,898 shares of the construction company's stock valued at $1,376,000 after buying an additional 12,056 shares in the last quarter. R Squared Ltd acquired a new stake in Great Lakes Dredge & Dock during the fourth quarter valued at approximately $69,000. Finally, American Capital Advisory LLC acquired a new stake in Great Lakes Dredge & Dock during the fourth quarter valued at approximately $1,034,000. Institutional investors and hedge funds own 89.11% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Great Lakes Dredge & Dock from a "hold" rating to a "buy" rating in a research note on Monday.

Great Lakes Dredge & Dock Stock Up 0.5%

NASDAQ GLDD traded up $0.05 on Tuesday, hitting $11.04. 546,453 shares of the stock traded hands, compared to its average volume of 469,874. The stock has a 50-day moving average of $9.25 and a 200 day moving average of $10.50. Great Lakes Dredge & Dock Co. has a twelve month low of $7.51 and a twelve month high of $12.89. The company has a market capitalization of $749.90 million, a P/E ratio of 13.14, a price-to-earnings-growth ratio of 1.06 and a beta of 1.23. 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 (NASDAQ:GLDD - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The construction company reported $0.49 earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $242.87 million for the quarter, compared to analysts' expectations of $206.70 million. As a group, analysts expect that Great Lakes Dredge & Dock Co. will post 0.69 earnings per share for the current fiscal year.

Great Lakes Dredge & Dock announced that its Board of Directors has approved a stock buyback program on Friday, March 14th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the construction company to buy up to 8.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, SVP Christopher Gunsten acquired 3,875 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $7.75 per share, for a total transaction of $30,031.25. Following the transaction, the senior vice president now owns 61,532 shares of the company's stock, valued at approximately $476,873. The trade was a 6.72% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Eleni Beyko sold 22,579 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $10.26, for a total value of $231,660.54. Following the sale, the senior vice president now owns 50,138 shares of the company's stock, valued at $514,415.88. This trade represents a 31.05% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company's stock.

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.