Marshall Wace LLP Purchases Shares of 207,626 Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Marshall Wace LLP acquired a new position in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 207,626 shares of the construction company’s stock, valued at approximately $1,823,000. Marshall Wace LLP owned approximately 0.31% of Great Lakes Dredge & Dock as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GLDD. Jennison Associates LLC lifted its position in shares of Great Lakes Dredge & Dock by 1.4% in the first quarter. Jennison Associates LLC now owns 4,359,725 shares of the construction company’s stock worth $38,148,000 after purchasing an additional 60,307 shares in the last quarter. Vanguard Group Inc. increased its holdings in Great Lakes Dredge & Dock by 1.4% during the first quarter. Vanguard Group Inc. now owns 3,413,673 shares of the construction company’s stock worth $29,870,000 after buying an additional 48,760 shares during the last quarter. TCW Group Inc. raised its position in Great Lakes Dredge & Dock by 2.0% during the second quarter. TCW Group Inc. now owns 1,996,138 shares of the construction company’s stock worth $17,526,000 after acquiring an additional 38,200 shares in the last quarter. Private Management Group Inc. lifted its stake in Great Lakes Dredge & Dock by 2.9% in the second quarter. Private Management Group Inc. now owns 1,253,165 shares of the construction company’s stock valued at $11,003,000 after acquiring an additional 35,077 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Great Lakes Dredge & Dock by 2.6% in the 4th quarter. Wellington Management Group LLP now owns 451,626 shares of the construction company’s stock valued at $3,468,000 after acquiring an additional 11,640 shares during the period. 89.11% of the stock is owned by institutional investors.

Insider Buying and Selling at Great Lakes Dredge & Dock

In other news, CEO Lasse Petterson sold 46,510 shares of Great Lakes Dredge & Dock stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $9.08, for a total transaction of $422,310.80. Following the completion of the sale, the chief executive officer now owns 931,101 shares of the company’s stock, valued at approximately $8,454,397.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 128,990 shares of company stock valued at $1,174,747 in the last ninety days. 2.20% of the stock is currently owned by corporate insiders.

Great Lakes Dredge & Dock Stock Performance

NASDAQ GLDD opened at $11.70 on Friday. The stock has a market cap of $784.01 million, a PE ratio of 20.53, a P/E/G ratio of 0.38 and a beta of 1.15. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.13 and a current ratio of 1.32. The firm has a 50-day moving average of $9.61 and a 200-day moving average of $8.96. Great Lakes Dredge & Dock Co. has a 52-week low of $6.11 and a 52-week high of $11.78.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last issued its quarterly earnings data on Tuesday, August 6th. The construction company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.08. The company had revenue of $170.09 million during the quarter, compared to analysts’ expectations of $165.00 million. Great Lakes Dredge & Dock had a return on equity of 10.05% and a net margin of 6.61%. During the same quarter in the previous year, the company posted $0.03 earnings per share. On average, sell-side analysts anticipate that Great Lakes Dredge & Dock Co. will post 0.8 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on GLDD. Noble Financial raised their target price on shares of Great Lakes Dredge & Dock from $11.00 to $14.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd. StockNews.com downgraded Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research note on Thursday, August 15th.

Great Lakes Dredge & Dock Profile

Great Lakes Dredge & Dock Corporation provides dredging services in the United States. The company engages in capital dredging that consists of port expansion projects; coastal restoration and land reclamations; trench digging for pipelines, tunnels, and cables; and other dredging related to the construction of breakwaters, jetties, canals, and other marine structures.