Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its stake in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 17.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 239,970 shares of the construction company’s stock after purchasing an additional 35,831 shares during the quarter. Bank of New York Mellon Corp’s holdings in Great Lakes Dredge & Dock were worth $2,709,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sanctuary Advisors LLC raised its position in shares of Great Lakes Dredge & Dock by 0.4% during the 4th quarter. Sanctuary Advisors LLC now owns 235,282 shares of the construction company’s stock worth $2,623,000 after buying an additional 979 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Great Lakes Dredge & Dock by 1.0% during the third quarter. Victory Capital Management Inc. now owns 123,228 shares of the construction company’s stock valued at $1,298,000 after acquiring an additional 1,228 shares during the period. Canton Hathaway LLC raised its holdings in Great Lakes Dredge & Dock by 10.7% during the third quarter. Canton Hathaway LLC now owns 41,300 shares of the construction company’s stock worth $435,000 after purchasing an additional 4,000 shares in the last quarter. New York State Common Retirement Fund lifted its position in Great Lakes Dredge & Dock by 64.8% in the fourth quarter. New York State Common Retirement Fund now owns 14,753 shares of the construction company’s stock worth $167,000 after purchasing an additional 5,800 shares during the period. Finally, R Squared Ltd bought a new position in Great Lakes Dredge & Dock during the 4th quarter valued at $69,000. Institutional investors own 89.11% of the company’s stock.

Great Lakes Dredge & Dock Stock Up 1.0 %

Shares of GLDD stock opened at $9.33 on Friday. Great Lakes Dredge & Dock Co. has a 1 year low of $6.55 and a 1 year high of $12.89. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.01 and a current ratio of 1.21. The business’s fifty day moving average is $10.02 and its 200-day moving average is $10.97. The stock has a market cap of $627.75 million, a PE ratio of 11.11, a price-to-earnings-growth ratio of 1.06 and a beta of 1.21.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last released its earnings results on Tuesday, February 18th. The construction company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.06. Great Lakes Dredge & Dock had a return on equity of 13.72% and a net margin of 7.51%. The firm had revenue of $202.77 million for the quarter, compared to analyst estimates of $211.20 million. Equities analysts expect that Great Lakes Dredge & Dock Co. will post 0.69 earnings per share for the current fiscal year.

Great Lakes Dredge & Dock announced that its board has authorized a stock repurchase program on Friday, March 14th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the construction company to repurchase up to 8.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Great Lakes Dredge & Dock

In other Great Lakes Dredge & Dock news, SVP Christopher Gunsten bought 3,875 shares of Great Lakes Dredge & Dock stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average cost of $7.75 per share, for a total transaction of $30,031.25. Following the completion of the acquisition, the senior vice president now owns 61,532 shares of the company’s stock, valued at approximately $476,873. This represents a 6.72 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.20% of the company’s stock.

Great Lakes Dredge & Dock Profile

Great Lakes Dredge & Dock Corp. engages in the provision of dredging services. Its projects include channel and port maintenance, channel deepening and port expansion, coastal protection and restoration, as well as land reclamation. The company was founded by William A. Lydon and Frederick C. Drews in 1890 and is headquartered in Houston, TX.