Sanctuary Advisors LLC Makes New $2.06 Million Investment in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Sanctuary Advisors LLC purchased a new stake in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 234,307 shares of the construction company’s stock, valued at approximately $2,057,000. Sanctuary Advisors LLC owned about 0.35% of Great Lakes Dredge & Dock as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Quarry LP raised its position in Great Lakes Dredge & Dock by 68.5% in the second quarter. Quarry LP now owns 3,097 shares of the construction company’s stock valued at $27,000 after purchasing an additional 1,259 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of Great Lakes Dredge & Dock in the second quarter valued at approximately $30,000. CWM LLC raised its holdings in Great Lakes Dredge & Dock by 520.5% in the 2nd quarter. CWM LLC now owns 5,051 shares of the construction company’s stock valued at $44,000 after buying an additional 4,237 shares during the last quarter. ARS Investment Partners LLC boosted its position 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 worth $107,000 after buying an additional 1,200 shares during the period. Finally, Quadrature Capital Ltd bought a new stake in Great Lakes Dredge & Dock during the 4th quarter worth approximately $113,000. Institutional investors and hedge funds own 89.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Noble Financial lifted their price target on shares of Great Lakes Dredge & Dock from $11.00 to $14.00 and gave the stock an “outperform” rating in a report on Monday, September 23rd. StockNews.com downgraded Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a report on Thursday, August 15th.

Insider Activity

In related news, CEO Lasse Petterson sold 46,510 shares of the firm’s stock in a transaction that occurred 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 $8,454,397.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold 128,990 shares of company stock valued at $1,174,747 in the last ninety days. 2.20% of the stock is owned by company insiders.

Great Lakes Dredge & Dock Stock Performance

NASDAQ:GLDD opened at $11.63 on Wednesday. The company has a market capitalization of $779.31 million, a PE ratio of 20.40, a P/E/G ratio of 0.38 and a beta of 1.15. Great Lakes Dredge & Dock Co. has a fifty-two week low of $6.11 and a fifty-two week high of $11.98. 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 company has a 50 day simple moving average of $9.70 and a two-hundred day simple moving average of $9.00.

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

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.