Semanteon Capital Management LP Purchases New Shares in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Semanteon Capital Management LP purchased a new stake in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 11,535 shares of the construction company’s stock, valued at approximately $130,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of GLDD. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Great Lakes Dredge & Dock during the 3rd quarter worth $6,744,000. Harvey Partners LLC raised its position in Great Lakes Dredge & Dock by 9.8% during the 3rd quarter. Harvey Partners LLC now owns 3,647,500 shares of the construction company’s stock worth $38,408,000 after buying an additional 325,500 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Great Lakes Dredge & Dock during the 4th quarter worth $2,322,000. JPMorgan Chase & Co. raised its position in Great Lakes Dredge & Dock by 217.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 228,121 shares of the construction company’s stock worth $2,402,000 after buying an additional 156,341 shares during the last quarter. Finally, Jackson Creek Investment Advisors LLC purchased a new position in Great Lakes Dredge & Dock during the 4th quarter worth $1,468,000. Hedge funds and other institutional investors own 89.11% of the company’s stock.

Insider Activity

In related news, SVP Christopher Gunsten purchased 3,875 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average price of $7.75 per share, for a total transaction of $30,031.25. Following the acquisition, the senior vice president now directly owns 61,532 shares of the company’s stock, valued at $476,873. This trade represents a 6.72 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.20% of the company’s stock.

Great Lakes Dredge & Dock Stock Down 2.4 %

Shares of Great Lakes Dredge & Dock stock opened at $9.11 on Friday. The company has a market cap of $612.95 million, a P/E ratio of 10.85, a PEG ratio of 1.06 and a beta of 1.21. 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 one year low of $6.55 and a one year high of $12.89. The firm has a fifty day moving average of $9.98 and a two-hundred day moving average of $10.97.

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

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

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.