Counterpoint Mutual Funds LLC Buys New Shares in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Counterpoint Mutual Funds LLC bought a new stake in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 35,458 shares of the construction company’s stock, valued at approximately $400,000. Counterpoint Mutual Funds LLC owned about 0.05% of Great Lakes Dredge & Dock as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AlphaQuest LLC bought a new position in shares of Great Lakes Dredge & Dock during the 4th quarter valued at $33,000. R Squared Ltd bought a new stake in Great Lakes Dredge & Dock in the 4th quarter worth $69,000. Passumpsic Savings Bank bought a new stake in Great Lakes Dredge & Dock in the 4th quarter worth $135,000. Point72 Asset Management L.P. bought a new stake in Great Lakes Dredge & Dock in the 3rd quarter worth $147,000. Finally, Intech Investment Management LLC bought a new stake in Great Lakes Dredge & Dock in the 3rd quarter worth $157,000. Institutional investors own 89.11% of the company’s stock.

Great Lakes Dredge & Dock Price Performance

Shares of Great Lakes Dredge & Dock stock opened at $8.70 on Tuesday. The firm has a market cap of $585.36 million, a PE ratio of 10.36, a price-to-earnings-growth ratio of 1.06 and a beta of 1.21. 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 quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.97. The company’s fifty day simple moving average is $10.15 and its two-hundred day simple moving average is $11.00.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last announced its quarterly 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. The business had revenue of $202.77 million for the quarter, compared to analyst estimates of $211.20 million. Great Lakes Dredge & Dock had a net margin of 7.51% and a return on equity of 13.72%. As a group, equities analysts expect that Great Lakes Dredge & Dock Co. will post 0.69 EPS for the current year.

Great Lakes Dredge & Dock announced that its Board of Directors has authorized a share repurchase plan on Friday, March 14th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 8.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

Insider Activity

In related news, SVP Christopher Gunsten bought 3,875 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average price of $7.75 per share, with a total value of $30,031.25. Following the purchase, the senior vice president now owns 61,532 shares of the company’s stock, valued at approximately $476,873. This trade represents a 6.72 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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.