Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. decreased its stake in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 17.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,789,575 shares of the construction company’s stock after selling 384,979 shares during the quarter. Russell Investments Group Ltd. owned about 2.80% of Great Lakes Dredge & Dock worth $18,694,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Jefferies Group LLC increased its stake in Great Lakes Dredge & Dock by 6.7% during the 2nd quarter. Jefferies Group LLC now owns 17,865 shares of the construction company’s stock valued at $197,000 after purchasing an additional 1,114 shares in the last quarter. Canton Hathaway LLC increased its stake in Great Lakes Dredge & Dock by 50.0% during the 3rd quarter. Canton Hathaway LLC now owns 5,220 shares of the construction company’s stock valued at $55,000 after purchasing an additional 1,740 shares in the last quarter. Cubist Systematic Strategies LLC increased its stake in Great Lakes Dredge & Dock by 2.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 84,028 shares of the construction company’s stock valued at $928,000 after purchasing an additional 2,019 shares in the last quarter. Swiss National Bank increased its stake in Great Lakes Dredge & Dock by 2.4% during the 2nd quarter. Swiss National Bank now owns 104,900 shares of the construction company’s stock valued at $1,158,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Hancock Whitney Corp increased its stake in Great Lakes Dredge & Dock by 35.3% during the 3rd quarter. Hancock Whitney Corp now owns 15,330 shares of the construction company’s stock valued at $160,000 after purchasing an additional 4,000 shares in the last quarter. Institutional investors and hedge funds own 87.05% of the company’s stock.

In related news, insider David E. Simonelli sold 3,809 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $10.90, for a total transaction of $41,518.10. Following the completion of the sale, the insider now directly owns 322,048 shares in the company, valued at $3,510,323.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Kathleen Mackie Lavoy sold 3,383 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $11.00, for a total transaction of $37,213.00. Following the sale, the senior vice president now owns 104,149 shares of the company’s stock, valued at $1,145,639. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,261 shares of company stock worth $313,384. Insiders own 4.66% of the company’s stock.

A number of brokerages have issued reports on GLDD. ValuEngine upgraded shares of Great Lakes Dredge & Dock from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. BidaskClub lowered shares of Great Lakes Dredge & Dock from a “hold” rating to a “sell” rating in a research note on Saturday. Noble Financial restated a “buy” rating and set a $13.80 price target on shares of Great Lakes Dredge & Dock in a research note on Sunday, October 6th. Finally, Zacks Investment Research lowered shares of Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating and set a $12.00 price objective on the stock. in a research note on Thursday, October 31st.

Shares of NASDAQ:GLDD traded down $0.18 during midday trading on Friday, reaching $9.49. The company’s stock had a trading volume of 519,100 shares, compared to its average volume of 521,305. The stock has a fifty day moving average of $10.42 and a 200 day moving average of $10.59. The company has a quick ratio of 1.18, a current ratio of 1.31 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $638.90 million, a PE ratio of 26.36 and a beta of 0.51. Great Lakes Dredge & Dock Co. has a twelve month low of $6.09 and a twelve month high of $11.81.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last posted its quarterly earnings results on Tuesday, November 5th. The construction company reported $0.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.02. The firm had revenue of $169.80 million for the quarter, compared to the consensus estimate of $178.50 million. Great Lakes Dredge & Dock had a net margin of 3.56% and a return on equity of 21.15%. The company’s revenue for the quarter was down 5.0% on a year-over-year basis. During the same period last year, the firm posted $0.18 earnings per share. Sell-side analysts anticipate that Great Lakes Dredge & Dock Co. will post 0.74 earnings per share for the current fiscal year.

About Great Lakes Dredge & Dock

Great Lakes Dredge & Dock Corporation provides dredging services in the United States and internationally. The company is involved 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.

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Institutional Ownership by Quarter for Great Lakes Dredge & Dock (NASDAQ:GLDD)

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