Quarry LP Increases Stake in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Quarry LP increased its stake in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 68.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,097 shares of the construction company’s stock after acquiring an additional 1,259 shares during the quarter. Quarry LP’s holdings in Great Lakes Dredge & Dock were worth $27,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of GLDD. Innealta Capital LLC bought a new position in Great Lakes Dredge & Dock during the second quarter valued at $30,000. CWM LLC increased its position in shares of Great Lakes Dredge & Dock by 520.5% during the 2nd quarter. CWM LLC now owns 5,051 shares of the construction company’s stock valued at $44,000 after purchasing an additional 4,237 shares during the last quarter. ARS Investment Partners LLC raised its holdings in Great Lakes Dredge & Dock by 11.0% during the 2nd quarter. ARS Investment Partners LLC now owns 12,150 shares of the construction company’s stock valued at $107,000 after buying an additional 1,200 shares during the period. Quadrature Capital Ltd bought a new stake in Great Lakes Dredge & Dock in the fourth quarter worth $113,000. Finally, Bayesian Capital Management LP purchased a new position in Great Lakes Dredge & Dock during the first quarter worth $137,000. 89.11% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Great Lakes Dredge & Dock

In related news, CEO Lasse Petterson sold 53,771 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $9.06, for a total value of $487,165.26. Following the completion of the sale, the chief executive officer now owns 987,758 shares in the company, valued at approximately $8,949,087.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 128,990 shares of company stock valued at $1,174,747. 2.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

Great Lakes Dredge & Dock Stock Performance

Shares of Great Lakes Dredge & Dock stock opened at $11.60 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 1.32 and a debt-to-equity ratio of 0.98. The stock’s fifty day moving average is $9.65 and its two-hundred day moving average is $8.98. Great Lakes Dredge & Dock Co. has a 52 week low of $6.11 and a 52 week high of $11.98. The company has a market capitalization of $777.30 million, a PE ratio of 20.35, a price-to-earnings-growth ratio of 0.38 and a beta of 1.15.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last posted its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.08. Great Lakes Dredge & Dock had a net margin of 6.61% and a return on equity of 10.05%. The firm had revenue of $170.09 million for the quarter, compared to analysts’ expectations of $165.00 million. During the same period in the prior year, the business posted $0.03 earnings per share. As a group, analysts expect that Great Lakes Dredge & Dock Co. will post 0.8 earnings per share for the current year.

About Great Lakes Dredge & Dock

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.