SG Americas Securities LLC Purchases Shares of 109,842 Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

SG Americas Securities LLC purchased a new position in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 109,842 shares of the construction company’s stock, valued at approximately $1,157,000. SG Americas Securities LLC owned 0.16% of Great Lakes Dredge & Dock as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently modified their holdings of GLDD. Jennison Associates LLC lifted its position in Great Lakes Dredge & Dock by 1.4% during the first quarter. Jennison Associates LLC now owns 4,359,725 shares of the construction company’s stock valued at $38,148,000 after purchasing an additional 60,307 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Great Lakes Dredge & Dock by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 3,413,673 shares of the construction company’s stock valued at $29,870,000 after purchasing an additional 48,760 shares during the last quarter. TCW Group Inc. raised its holdings in shares of Great Lakes Dredge & Dock by 2.0% during the 2nd quarter. TCW Group Inc. now owns 1,996,138 shares of the construction company’s stock valued at $17,526,000 after buying an additional 38,200 shares in the last quarter. Private Management Group Inc. lifted its position in Great Lakes Dredge & Dock by 2.9% in the 2nd quarter. Private Management Group Inc. now owns 1,253,165 shares of the construction company’s stock worth $11,003,000 after buying an additional 35,077 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in Great Lakes Dredge & Dock by 2.6% in the fourth quarter. Wellington Management Group LLP now owns 451,626 shares of the construction company’s stock worth $3,468,000 after buying an additional 11,640 shares in the last quarter. Institutional investors own 89.11% of the company’s stock.

Great Lakes Dredge & Dock Price Performance

GLDD stock opened at $11.56 on Friday. The stock has a market capitalization of $774.62 million, a price-to-earnings ratio of 20.28, a PEG ratio of 0.38 and a beta of 1.15. The firm’s 50-day moving average price is $9.80 and its two-hundred day moving average price is $9.04. The company has a current ratio of 1.32, a quick ratio of 1.13 and a debt-to-equity ratio of 0.98. Great Lakes Dredge & Dock Co. has a 12-month low of $6.11 and a 12-month high of $11.98.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last announced its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.08. Great Lakes Dredge & Dock had a return on equity of 10.05% and a net margin of 6.61%. The company had revenue of $170.09 million for the quarter, compared to the consensus estimate of $165.00 million. During the same quarter in the previous year, the business earned $0.03 EPS. As a group, equities analysts predict that Great Lakes Dredge & Dock Co. will post 0.8 earnings per share for the current year.

Insider Activity

In related news, CEO Lasse Petterson sold 28,709 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $9.24, for a total value of $265,271.16. Following the completion of the sale, the chief executive officer now owns 902,392 shares of the company’s stock, valued at $8,338,102.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders have sold 128,990 shares of company stock valued at $1,174,747. Company insiders own 2.20% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. StockNews.com lowered shares of Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research report on Thursday, August 15th. Noble Financial lifted their price target on Great Lakes Dredge & Dock from $11.00 to $14.00 and gave the stock an “outperform” rating in a research note on Monday, September 23rd.

Great Lakes Dredge & Dock Profile

Great Lakes Dredge & Dock Corporation provides dredging services in the United States. The company engages 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.