88,226 Shares in Great Lakes Dredge & Dock Corporation $GLDD Acquired by HB Wealth Management LLC

HB Wealth Management LLC purchased a new stake in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) during the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 88,226 shares of the construction company’s stock, valued at approximately $1,058,000.

Several other institutional investors also recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership increased its holdings in shares of Great Lakes Dredge & Dock by 680.1% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 841,140 shares of the construction company’s stock worth $10,253,000 after buying an additional 733,312 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in Great Lakes Dredge & Dock by 404.0% during the second quarter. Cubist Systematic Strategies LLC now owns 492,191 shares of the construction company’s stock valued at $6,000,000 after acquiring an additional 394,543 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in Great Lakes Dredge & Dock during the second quarter worth about $2,932,000. Segall Bryant & Hamill LLC purchased a new position in shares of Great Lakes Dredge & Dock in the 2nd quarter worth about $2,723,000. Finally, American Century Companies Inc. lifted its stake in shares of Great Lakes Dredge & Dock by 10.7% in the 2nd quarter. American Century Companies Inc. now owns 2,180,909 shares of the construction company’s stock valued at $26,585,000 after purchasing an additional 210,134 shares in the last quarter. 89.11% of the stock is owned by hedge funds and other institutional investors.

Great Lakes Dredge & Dock Stock Performance

Great Lakes Dredge & Dock stock opened at $13.57 on Tuesday. The firm has a market capitalization of $922.76 million, a PE ratio of 11.50, a price-to-earnings-growth ratio of 1.02 and a beta of 1.40. Great Lakes Dredge & Dock Corporation has a one year low of $7.51 and a one year high of $14.02. The stock’s 50 day moving average price is $12.97 and its 200 day moving average price is $12.05. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.06 and a current ratio of 1.20.

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

Insider Transactions at Great Lakes Dredge & Dock

In other Great Lakes Dredge & Dock news, SVP David Johanson sold 2,100 shares of the business’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $13.96, for a total value of $29,316.00. Following the transaction, the senior vice president owned 91,963 shares in the company, valued at $1,283,803.48. The trade was a 2.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GLDD. Zacks Research cut Great Lakes Dredge & Dock from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Great Lakes Dredge & Dock in a research note on Wednesday, October 8th. Finally, CJS Securities raised shares of Great Lakes Dredge & Dock to a “strong-buy” rating in a research note on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

Great Lakes Dredge & Dock Profile

Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) is a leading provider of dredging and maritime construction services in the United States. The company specializes in the excavation and removal of sediment from waterways, harbors, ports and coastal areas to maintain navigability and support commercial shipping. Its operations encompass both maintenance dredging—removing accumulated material to restore channel depth—and new work projects such as land reclamation and harbor deepening.

In addition to traditional dredging, Great Lakes Dredge & Dock offers a range of complementary marine construction services.