Victory Capital Management Inc. Purchases 1,228 Shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Victory Capital Management Inc. lifted its position in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 1.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 123,228 shares of the construction company’s stock after acquiring an additional 1,228 shares during the quarter. Victory Capital Management Inc. owned approximately 0.18% of Great Lakes Dredge & Dock worth $1,298,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in GLDD. Quarry LP boosted its stake 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 acquiring an additional 1,259 shares during the last quarter. Innealta Capital LLC bought a new position in shares of Great Lakes Dredge & Dock in the 2nd quarter worth $30,000. nVerses Capital LLC grew its stake in shares of Great Lakes Dredge & Dock by 400.0% during the third quarter. nVerses Capital LLC now owns 3,500 shares of the construction company’s stock worth $37,000 after purchasing an additional 2,800 shares during the period. CWM LLC increased its holdings in Great Lakes Dredge & Dock by 520.5% in the second 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. Finally, ARS Investment Partners LLC lifted its stake in Great Lakes Dredge & Dock by 11.0% in the second 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. Institutional investors and hedge funds own 89.11% of the company’s stock.

Analyst Ratings Changes

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

Great Lakes Dredge & Dock Stock Performance

Shares of Great Lakes Dredge & Dock stock opened at $12.53 on Wednesday. Great Lakes Dredge & Dock Co. has a 12 month low of $6.55 and a 12 month high of $12.83. The company has a current ratio of 1.21, a quick ratio of 1.01 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $842.58 million, a PE ratio of 14.34, a PEG ratio of 0.46 and a beta of 1.13. The stock’s fifty day simple moving average is $11.58 and its 200 day simple moving average is $9.98.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last released its quarterly earnings results on Tuesday, November 5th. The construction company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.05). Great Lakes Dredge & Dock had a return on equity of 13.35% and a net margin of 7.97%. The business had revenue of $191.17 million for the quarter, compared to analyst estimates of $180.80 million. During the same period in the prior year, the business earned ($0.09) EPS. On average, research analysts predict that Great Lakes Dredge & Dock Co. will post 0.76 EPS for the current year.

Insider Buying and Selling at Great Lakes Dredge & Dock

In other news, Director Kathleen M. Shanahan sold 23,238 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $12.63, for a total transaction of $293,495.94. Following the completion of the transaction, the director now directly owns 67,675 shares of the company’s stock, valued at $854,735.25. This represents a 25.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.20% of the company’s stock.

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.