Great Lakes Dredge & Dock Corporation $GLDD Shares Acquired by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lifted its position in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) by 680.1% during the second quarter, HoldingsChannel.com reports. The fund owned 841,140 shares of the construction company’s stock after acquiring an additional 733,312 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Great Lakes Dredge & Dock were worth $10,253,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in GLDD. Nuveen LLC purchased a new position in Great Lakes Dredge & Dock in the 1st quarter valued at $3,960,000. American Century Companies Inc. lifted its stake in shares of Great Lakes Dredge & Dock by 22.0% in the first quarter. American Century Companies Inc. now owns 1,970,775 shares of the construction company’s stock worth $17,146,000 after buying an additional 355,184 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Great Lakes Dredge & Dock in the second quarter worth about $2,932,000. Brandywine Global Investment Management LLC acquired a new position in Great Lakes Dredge & Dock during the first quarter worth about $2,130,000. Finally, Segall Bryant & Hamill LLC purchased a new stake in Great Lakes Dredge & Dock during the 2nd quarter valued at about $2,723,000. 89.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Great Lakes Dredge & Dock

In related news, SVP David Johanson sold 10,000 shares of Great Lakes Dredge & Dock stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $13.02, for a total value of $130,200.00. Following the completion of the sale, the senior vice president owned 94,063 shares in the company, valued at approximately $1,224,700.26. This trade represents a 9.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GLDD. Zacks Research upgraded shares of Great Lakes Dredge & Dock from a “hold” rating to a “strong-buy” rating in a report on Monday, November 10th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Great Lakes Dredge & Dock in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy”.

Great Lakes Dredge & Dock Stock Up 2.3%

Shares of GLDD opened at $13.56 on Wednesday. The company’s 50-day moving average price is $11.98 and its 200 day moving average price is $11.74. Great Lakes Dredge & Dock Corporation has a 12-month low of $7.51 and a 12-month high of $13.70. The company has a current ratio of 1.20, a quick ratio of 1.06 and a debt-to-equity ratio of 0.83. The firm has a market cap of $922.08 million, a P/E ratio of 11.49, a price-to-earnings-growth ratio of 1.01 and a beta of 1.43.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last announced its quarterly earnings results on Tuesday, November 4th. The construction company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.09. The business had revenue of $195.21 million during the quarter, compared to analysts’ expectations of $201.30 million. Great Lakes Dredge & Dock had a net margin of 9.65% and a return on equity of 16.84%. On average, sell-side analysts forecast that Great Lakes Dredge & Dock Corporation will post 0.69 earnings per share for the current year.

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.