CenterBook Partners LP Purchases 167,149 Shares of Great Lakes Dredge & Dock Corporation $GLDD

CenterBook Partners LP increased its position in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) by 47.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 518,331 shares of the construction company’s stock after buying an additional 167,149 shares during the quarter. CenterBook Partners LP owned 0.76% of Great Lakes Dredge & Dock worth $6,215,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Strs Ohio purchased a new position in shares of Great Lakes Dredge & Dock in the first quarter valued at about $45,000. State of Alaska Department of Revenue bought a new stake in shares of Great Lakes Dredge & Dock in the third quarter worth about $46,000. Federated Hermes Inc. increased its holdings in Great Lakes Dredge & Dock by 43.5% during the 2nd quarter. Federated Hermes Inc. now owns 4,965 shares of the construction company’s stock valued at $61,000 after purchasing an additional 1,505 shares during the period. CWM LLC increased its holdings in Great Lakes Dredge & Dock by 125.0% during the 3rd quarter. CWM LLC now owns 6,995 shares of the construction company’s stock valued at $84,000 after purchasing an additional 3,886 shares during the period. Finally, Russell Investments Group Ltd. raised its position in Great Lakes Dredge & Dock by 5,519.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 9,160 shares of the construction company’s stock valued at $112,000 after purchasing an additional 8,997 shares during the last quarter. Hedge funds and other institutional investors own 89.11% of the company’s stock.

Great Lakes Dredge & Dock Stock Performance

Shares of GLDD stock opened at $16.85 on Wednesday. Great Lakes Dredge & Dock Corporation has a 12 month low of $7.51 and a 12 month high of $16.99. The stock has a market cap of $1.15 billion, a PE ratio of 14.28, a price-to-earnings-growth ratio of 1.28 and a beta of 1.42. 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 company’s fifty day moving average price is $14.49 and its 200-day moving average price is $12.79.

Analyst Ratings Changes

GLDD has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. began coverage on Great Lakes Dredge & Dock in a research report on Thursday, January 22nd. They issued an “overweight” rating and a $20.00 price objective on the stock. Weiss Ratings raised Great Lakes Dredge & Dock from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, January 21st. Texas Capital downgraded shares of Great Lakes Dredge & Dock from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 11th. CJS Securities upgraded shares of Great Lakes Dredge & Dock to a “strong-buy” rating in a report on Thursday, December 11th. Finally, Wall Street Zen lowered shares of Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research note on Saturday, January 24th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.00.

Insider Buying and Selling at Great Lakes Dredge & Dock

In related news, SVP David Johanson sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $13.02, for a total value of $130,200.00. Following the sale, the senior vice president owned 94,063 shares in the company, valued at $1,224,700.26. This represents a 9.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Great Lakes Dredge & Dock Company 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.