BNP PARIBAS ASSET MANAGEMENT Holding S.A. Invests $6.74 Million in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 640,503 shares of the construction company’s stock, valued at approximately $6,744,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned approximately 0.95% of Great Lakes Dredge & Dock at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC purchased a new stake in Great Lakes Dredge & Dock during the third quarter worth $1,079,000. GSA Capital Partners LLP lifted its stake in shares of Great Lakes Dredge & Dock by 138.5% during the 3rd quarter. GSA Capital Partners LLP now owns 154,451 shares of the construction company’s stock worth $1,626,000 after purchasing an additional 89,684 shares during the last quarter. Marshall Wace LLP bought a new stake in Great Lakes Dredge & Dock during the second quarter valued at about $1,823,000. Hsbc Holdings PLC purchased a new position in Great Lakes Dredge & Dock in the second quarter valued at about $227,000. Finally, Sanctuary Advisors LLC purchased a new position in Great Lakes Dredge & Dock in the second quarter valued at about $2,057,000. 89.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on GLDD shares. StockNews.com downgraded shares of Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research report on Thursday, August 15th. Noble Financial raised their target price on shares of Great Lakes Dredge & Dock from $11.00 to $14.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd.

Insider Transactions at Great Lakes Dredge & Dock

In other news, Director Kathleen M. Shanahan sold 23,238 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $12.63, for a total value of $293,495.94. Following the transaction, the director now directly owns 67,675 shares of the company’s stock, valued at approximately $854,735.25. This represents a 25.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.20% of the company’s stock.

Great Lakes Dredge & Dock Trading Up 0.1 %

Shares of NASDAQ:GLDD opened at $12.33 on Monday. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.21 and a quick ratio of 1.01. The firm has a market capitalization of $829.44 million, a P/E ratio of 14.17, a P/E/G ratio of 0.46 and a beta of 1.13. The business’s 50-day moving average is $11.53 and its 200 day moving average is $9.95. Great Lakes Dredge & Dock Co. has a 1 year low of $6.55 and a 1 year high of $12.83.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last announced its quarterly earnings data on Tuesday, November 5th. The construction company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.05). The company had revenue of $191.17 million during the quarter, compared to analysts’ expectations of $180.80 million. Great Lakes Dredge & Dock had a net margin of 7.97% and a return on equity of 13.35%. During the same period in the previous year, the business earned ($0.09) earnings per share. On average, research analysts predict that Great Lakes Dredge & Dock Co. will post 0.76 earnings per share for the current fiscal year.

About Great Lakes Dredge & Dock

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.