Rockefeller Capital Management L.P. Lowers Stake in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Rockefeller Capital Management L.P. lessened its position in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 48.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 98,721 shares of the construction company’s stock after selling 93,779 shares during the period. Rockefeller Capital Management L.P.’s holdings in Great Lakes Dredge & Dock were worth $1,040,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Essex Investment Management Co. LLC raised its holdings in Great Lakes Dredge & Dock by 0.3% in the 3rd quarter. Essex Investment Management Co. LLC now owns 347,517 shares of the construction company’s stock valued at $3,659,000 after acquiring an additional 915 shares during the last quarter. ARS Investment Partners LLC grew its position in shares of Great Lakes Dredge & Dock by 11.0% in the second quarter. ARS Investment Partners LLC now owns 12,150 shares of the construction company’s stock valued at $107,000 after purchasing an additional 1,200 shares during the period. Victory Capital Management Inc. increased its stake in Great Lakes Dredge & Dock by 1.0% in the third quarter. Victory Capital Management Inc. now owns 123,228 shares of the construction company’s stock valued at $1,298,000 after purchasing an additional 1,228 shares during the last quarter. Quarry LP lifted its position in Great Lakes Dredge & Dock by 68.5% during the second quarter. Quarry LP now owns 3,097 shares of the construction company’s stock worth $27,000 after buying an additional 1,259 shares during the period. Finally, nVerses Capital LLC boosted its stake in Great Lakes Dredge & Dock by 400.0% in the 3rd quarter. nVerses Capital LLC now owns 3,500 shares of the construction company’s stock worth $37,000 after buying an additional 2,800 shares during the last quarter. Hedge funds and other institutional investors own 89.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GLDD. StockNews.com lowered shares of Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a report on Thursday, August 15th. Noble Financial increased their price target on shares of 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.

Insider Activity at Great Lakes Dredge & Dock

In related news, Director Kathleen M. Shanahan sold 23,238 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $12.63, for a total transaction of $293,495.94. Following the sale, the director now directly owns 67,675 shares in the company, valued at approximately $854,735.25. This trade represents a 25.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.20% of the company’s stock.

Great Lakes Dredge & Dock Stock Performance

Great Lakes Dredge & Dock stock opened at $12.49 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. Great Lakes Dredge & Dock Co. has a 12 month low of $6.55 and a 12 month high of $12.89. The company has a market cap of $840.20 million, a price-to-earnings ratio of 14.36, a price-to-earnings-growth ratio of 0.47 and a beta of 1.15. The stock’s 50-day moving average is $11.98 and its 200-day moving average is $10.18.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last announced its quarterly earnings results on Tuesday, November 5th. The construction company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.05). Great Lakes Dredge & Dock had a net margin of 7.97% and a return on equity of 13.35%. The business had revenue of $191.17 million for the quarter, compared to analyst estimates of $180.80 million. During the same period last year, the firm earned ($0.09) earnings per share. Equities analysts anticipate that Great Lakes Dredge & Dock Co. will post 0.76 earnings per share for the current year.

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.