Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) Shares Sold by Oppenheimer & Close LLC

Oppenheimer & Close LLC lessened its stake in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 74.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,287 shares of the construction company’s stock after selling 115,358 shares during the quarter. Oppenheimer & Close LLC’s holdings in Great Lakes Dredge & Dock were worth $444,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. AlphaQuest LLC acquired a new stake in shares of Great Lakes Dredge & Dock during the 4th quarter worth about $33,000. R Squared Ltd bought a new stake in shares of Great Lakes Dredge & Dock in the fourth quarter worth $69,000. Semanteon Capital Management LP acquired a new position in Great Lakes Dredge & Dock in the fourth quarter worth $130,000. KLP Kapitalforvaltning AS acquired a new position in Great Lakes Dredge & Dock in the fourth quarter worth $132,000. Finally, Passumpsic Savings Bank acquired a new position in shares of Great Lakes Dredge & Dock during the fourth quarter valued at $135,000. Hedge funds and other institutional investors own 89.11% of the company’s stock.

Insider Transactions at Great Lakes Dredge & Dock

In other Great Lakes Dredge & Dock news, SVP Christopher Gunsten bought 3,875 shares of the stock in a transaction dated Tuesday, March 4th. The stock was bought at an average cost of $7.75 per share, for a total transaction of $30,031.25. Following the completion of the purchase, the senior vice president now owns 61,532 shares in the company, valued at $476,873. This represents a 6.72 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.20% of the stock is currently owned by corporate insiders.

Great Lakes Dredge & Dock Price Performance

Shares of Great Lakes Dredge & Dock stock opened at $9.11 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.01 and a debt-to-equity ratio of 0.97. The company’s 50-day moving average price is $9.98 and its two-hundred day moving average price is $10.97. Great Lakes Dredge & Dock Co. has a 52 week low of $6.55 and a 52 week high of $12.89. The stock has a market cap of $612.95 million, a PE ratio of 10.85, a price-to-earnings-growth ratio of 1.06 and a beta of 1.21.

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

Great Lakes Dredge & Dock declared that its board has authorized a stock buyback plan on Friday, March 14th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire up to 8.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is 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.