GSA Capital Partners LLP Reduces Position in Great Lakes Dredge & Dock Corporation $GLDD

GSA Capital Partners LLP decreased its stake in shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) by 32.3% during the third quarter, HoldingsChannel reports. The firm owned 149,542 shares of the construction company’s stock after selling 71,339 shares during the quarter. GSA Capital Partners LLP’s holdings in Great Lakes Dredge & Dock were worth $1,793,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. American Century Companies Inc. increased its holdings in shares of Great Lakes Dredge & Dock by 10.7% in the second 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 during the period. Geode Capital Management LLC increased its holdings in Great Lakes Dredge & Dock by 3.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,656,547 shares of the construction company’s stock worth $20,195,000 after buying an additional 51,269 shares during the period. JPMorgan Chase & Co. raised its position in Great Lakes Dredge & Dock by 12.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 888,739 shares of the construction company’s stock worth $10,656,000 after buying an additional 99,463 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in 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 valued at $10,253,000 after acquiring an additional 733,312 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Great Lakes Dredge & Dock by 99.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 494,033 shares of the construction company’s stock valued at $5,884,000 after acquiring an additional 246,007 shares during the last quarter. 89.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP David Johanson sold 2,100 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The stock was 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. This trade represents a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on GLDD. CJS Securities raised shares of Great Lakes Dredge & Dock to a “strong-buy” rating in a report on Thursday, December 11th. Weiss Ratings raised Great Lakes Dredge & Dock from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, January 21st. JPMorgan Chase & Co. began coverage on shares of Great Lakes Dredge & Dock in a report on Thursday, January 22nd. They set an “overweight” rating and a $20.00 target price for the company. Noble Financial cut shares of Great Lakes Dredge & Dock from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 12th. Finally, Texas Capital lowered shares of Great Lakes Dredge & Dock from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Great Lakes Dredge & Dock presently has an average rating of “Moderate Buy” and a consensus price target of $20.00.

Great Lakes Dredge & Dock Stock Down 0.2%

GLDD stock opened at $16.85 on Wednesday. Great Lakes Dredge & Dock Corporation has a 52 week low of $7.51 and a 52 week high of $16.99. The company has a quick ratio of 1.06, a current ratio of 1.20 and a debt-to-equity ratio of 0.83. The firm has a 50-day simple moving average of $14.49 and a 200-day simple moving average of $12.79. The stock has a market capitalization of $1.15 billion, a P/E ratio of 14.28, a P/E/G ratio of 1.28 and a beta of 1.42.

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.