Fox Run Management L.L.C. Acquires 10,774 Shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Fox Run Management L.L.C. lifted its stake in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 41.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,645 shares of the construction company’s stock after purchasing an additional 10,774 shares during the quarter. Fox Run Management L.L.C. owned 0.05% of Great Lakes Dredge & Dock worth $414,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. AlphaQuest LLC acquired a new stake in shares of Great Lakes Dredge & Dock during the 4th quarter valued at $33,000. R Squared Ltd bought a new stake in shares of Great Lakes Dredge & Dock during the fourth quarter worth about $69,000. Semanteon Capital Management LP acquired a new position in shares of Great Lakes Dredge & Dock in the fourth quarter valued at approximately $130,000. KLP Kapitalforvaltning AS bought a new position in Great Lakes Dredge & Dock in the 4th quarter valued at approximately $132,000. Finally, Passumpsic Savings Bank acquired a new stake in Great Lakes Dredge & Dock during the 4th quarter worth approximately $135,000. 89.11% of the stock is currently owned by institutional investors and hedge funds.

Great Lakes Dredge & Dock Trading Down 0.3 %

Shares of NASDAQ GLDD opened at $9.19 on Wednesday. The firm has a 50 day moving average price of $9.89 and a two-hundred day moving average price of $10.98. The stock has a market cap of $618.33 million, a P/E ratio of 10.94, a price-to-earnings-growth ratio of 1.06 and a beta of 1.21. Great Lakes Dredge & Dock Co. has a 52-week low of $6.55 and a 52-week high of $12.89. 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 (NASDAQ:GLDD) last posted its quarterly earnings data 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 business 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%. As a group, equities analysts forecast 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 approved a share buyback program on Friday, March 14th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the construction company to repurchase up to 8.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insider Transactions at Great Lakes Dredge & Dock

In related news, SVP Christopher Gunsten bought 3,875 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average price of $7.75 per share, with a total value of $30,031.25. Following the completion of the transaction, the senior vice president now directly owns 61,532 shares in the company, valued at approximately $476,873. This represents a 6.72 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.20% of the company’s stock.

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.