UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 13,203 Shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 6.6% during the third quarter, HoldingsChannel reports. The firm owned 213,330 shares of the construction company’s stock after buying an additional 13,203 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Great Lakes Dredge & Dock were worth $2,246,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Great Lakes Dredge & Dock during the 3rd quarter valued at about $6,744,000. Sequoia Financial Advisors LLC bought a new position in Great Lakes Dredge & Dock during the third quarter valued at approximately $1,079,000. GSA Capital Partners LLP boosted its holdings in Great Lakes Dredge & Dock by 138.5% in the third 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. PEAK6 Investments LLC grew its position in Great Lakes Dredge & Dock by 86.7% in the 3rd quarter. PEAK6 Investments LLC now owns 95,685 shares of the construction company’s stock worth $1,008,000 after purchasing an additional 44,425 shares during the period. Finally, Marshall Wace LLP purchased a new stake in Great Lakes Dredge & Dock during the 2nd quarter valued at $1,823,000. 89.11% of the stock is owned by hedge funds and other institutional investors.

Great Lakes Dredge & Dock Price Performance

NASDAQ GLDD opened at $11.98 on Friday. The company has a 50-day moving average price of $12.11 and a 200-day moving average price of $10.28. Great Lakes Dredge & Dock Co. has a 52 week low of $6.55 and a 52 week high of $12.89. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $805.92 million, a P/E ratio of 13.77, a PEG ratio of 0.48 and a beta of 1.15.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last announced its earnings results on Tuesday, November 5th. The construction company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.05). The business had revenue of $191.17 million for 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 prior year, the company posted ($0.09) earnings per share. Equities research analysts anticipate that Great Lakes Dredge & Dock Co. will post 0.76 earnings per share for the current year.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Separately, Noble Financial raised 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.