Intech Investment Management LLC Boosts Holdings in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Intech Investment Management LLC raised its stake in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 130.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,514 shares of the construction company’s stock after buying an additional 19,559 shares during the quarter. Intech Investment Management LLC owned about 0.05% of Great Lakes Dredge & Dock worth $390,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of GLDD. Harvey Partners LLC lifted its stake in Great Lakes Dredge & Dock by 9.8% in the 3rd quarter. Harvey Partners LLC now owns 3,647,500 shares of the construction company’s stock worth $38,408,000 after purchasing an additional 325,500 shares in the last quarter. TCW Group Inc. boosted its stake in Great Lakes Dredge & Dock by 5.0% during the third quarter. TCW Group Inc. now owns 2,095,834 shares of the construction company’s stock valued at $22,069,000 after buying an additional 99,696 shares during the last quarter. Geode Capital Management LLC grew its holdings in Great Lakes Dredge & Dock by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,561,897 shares of the construction company’s stock valued at $16,450,000 after buying an additional 22,166 shares in the last quarter. State Street Corp raised its holdings in shares of Great Lakes Dredge & Dock by 0.9% during the 3rd quarter. State Street Corp now owns 1,540,516 shares of the construction company’s stock worth $16,222,000 after acquiring an additional 13,010 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of Great Lakes Dredge & Dock by 60.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 287,248 shares of the construction company’s stock valued at $3,025,000 after acquiring an additional 108,227 shares during the last quarter. Institutional investors own 89.11% of the company’s stock.

Insider Buying and Selling at Great Lakes Dredge & Dock

In other news, SVP Christopher Gunsten acquired 3,875 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was bought at an average cost of $7.75 per share, with a total value of $30,031.25. Following the completion of the purchase, the senior vice president now directly owns 61,532 shares of the company’s stock, valued at $476,873. This represents a 6.72 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.20% of the company’s stock.

Great Lakes Dredge & Dock Trading Down 0.3 %

GLDD stock opened at $9.19 on Wednesday. The firm has a market cap of $618.33 million, a PE ratio of 10.94, a price-to-earnings-growth ratio of 1.06 and a beta of 1.21. The firm has a fifty day moving average price of $9.89 and a 200 day moving average price of $10.98. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.01 and a current ratio of 1.21. Great Lakes Dredge & Dock Co. has a fifty-two week low of $6.55 and a fifty-two week high of $12.89.

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

Great Lakes Dredge & Dock declared that its board has approved a share repurchase program on Friday, March 14th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the construction company to purchase up to 8.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Great Lakes Dredge & Dock Company 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.