Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) Shares Sold by Gitterman Wealth Management LLC

Gitterman Wealth Management LLC cut its position in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 34.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,851 shares of the construction company’s stock after selling 6,737 shares during the quarter. Gitterman Wealth Management LLC’s holdings in Great Lakes Dredge & Dock were worth $145,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jennison Associates LLC boosted its position in shares of Great Lakes Dredge & Dock by 1.9% in the third quarter. Jennison Associates LLC now owns 4,333,438 shares of the construction company’s stock worth $45,631,000 after buying an additional 79,087 shares during the period. Harvey Partners LLC boosted its position in shares of Great Lakes Dredge & Dock by 9.8% in the third 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 period. TCW Group Inc. boosted its position in shares of Great Lakes Dredge & Dock by 5.0% in the third quarter. TCW Group Inc. now owns 2,095,834 shares of the construction company’s stock worth $22,069,000 after buying an additional 99,696 shares during the period. Geode Capital Management LLC boosted its position in shares of Great Lakes Dredge & Dock by 1.4% in the third quarter. Geode Capital Management LLC now owns 1,561,897 shares of the construction company’s stock worth $16,450,000 after buying an additional 22,166 shares during the period. Finally, State Street Corp boosted its position in shares of Great Lakes Dredge & Dock by 0.9% in the third quarter. State Street Corp now owns 1,540,516 shares of the construction company’s stock worth $16,222,000 after buying an additional 13,010 shares during the period. 89.11% of the stock is currently owned by institutional investors and hedge funds.

Great Lakes Dredge & Dock Price Performance

Shares of NASDAQ GLDD opened at $8.65 on Friday. Great Lakes Dredge & Dock Co. has a 1-year low of $6.55 and a 1-year high of $12.89. The business has a 50-day moving average of $10.21 and a 200-day moving average of $11.00. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.21 and a quick ratio of 1.01. The company has a market capitalization of $582.00 million, a price-to-earnings ratio of 10.30, a PEG 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, topping the consensus estimate 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 return on equity of 13.72% and a net margin of 7.51%. On average, equities 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 approved a share repurchase program on Friday, March 14th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the construction company to buy up to 8.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Great Lakes Dredge & Dock

In other Great Lakes Dredge & Dock news, SVP Christopher Gunsten purchased 3,875 shares of Great Lakes Dredge & Dock stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average price of $7.75 per share, with a total value of $30,031.25. Following the completion of the acquisition, 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 purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.10% of the stock is currently owned by company insiders.

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.