Cubist Systematic Strategies LLC Has $415,000 Stock Holdings in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Cubist Systematic Strategies LLC reduced its holdings in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 36.7% in the second quarter, HoldingsChannel reports. The firm owned 47,215 shares of the construction company’s stock after selling 27,316 shares during the period. Cubist Systematic Strategies LLC’s holdings in Great Lakes Dredge & Dock were worth $415,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in GLDD. Jennison Associates LLC raised its stake in Great Lakes Dredge & Dock by 1.4% during the 1st quarter. Jennison Associates LLC now owns 4,359,725 shares of the construction company’s stock worth $38,148,000 after buying an additional 60,307 shares during the period. Vanguard Group Inc. increased its stake in Great Lakes Dredge & Dock by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 3,413,673 shares of the construction company’s stock valued at $29,870,000 after purchasing an additional 48,760 shares in the last quarter. TCW Group Inc. raised its holdings in Great Lakes Dredge & Dock by 2.0% during the second quarter. TCW Group Inc. now owns 1,996,138 shares of the construction company’s stock worth $17,526,000 after buying an additional 38,200 shares during the last quarter. Private Management Group Inc. lifted its stake in shares of Great Lakes Dredge & Dock by 2.9% in the second quarter. Private Management Group Inc. now owns 1,253,165 shares of the construction company’s stock valued at $11,003,000 after buying an additional 35,077 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Great Lakes Dredge & Dock by 2.6% during the fourth quarter. Wellington Management Group LLP now owns 451,626 shares of the construction company’s stock valued at $3,468,000 after buying an additional 11,640 shares during the last quarter. 89.11% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Lasse Petterson sold 46,510 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $9.08, for a total value of $422,310.80. Following the transaction, the chief executive officer now directly owns 931,101 shares in the company, valued at approximately $8,454,397.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders sold 128,990 shares of company stock worth $1,174,747. 2.20% of the stock is currently owned by insiders.

Great Lakes Dredge & Dock Trading Up 1.6 %

Shares of GLDD opened at $11.75 on Monday. The firm has a market cap of $787.36 million, a P/E ratio of 20.61, a price-to-earnings-growth ratio of 0.41 and a beta of 1.15. Great Lakes Dredge & Dock Co. has a fifty-two week low of $6.11 and a fifty-two week high of $11.98. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.13 and a current ratio of 1.32. The business has a 50-day moving average of $9.86 and a 200 day moving average of $9.07.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last released its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.08. The firm had revenue of $170.09 million for the quarter, compared to analysts’ expectations of $165.00 million. Great Lakes Dredge & Dock had a net margin of 6.61% and a return on equity of 10.05%. During the same quarter in the prior year, the firm posted $0.03 earnings per share. As a group, research analysts forecast that Great Lakes Dredge & Dock Co. will post 0.8 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have commented on the company. Noble Financial boosted their price objective on Great Lakes Dredge & Dock from $11.00 to $14.00 and gave the stock an “outperform” rating in a report on Monday, September 23rd. StockNews.com downgraded Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a report on Thursday, August 15th.

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.