State Street Corp Purchases 13,010 Shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

State Street Corp grew its holdings in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 0.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,540,516 shares of the construction company’s stock after acquiring an additional 13,010 shares during the quarter. State Street Corp owned 2.29% of Great Lakes Dredge & Dock worth $16,222,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Jennison Associates LLC boosted its holdings in Great Lakes Dredge & Dock by 1.9% in the 3rd quarter. Jennison Associates LLC now owns 4,333,438 shares of the construction company’s stock valued at $45,631,000 after purchasing an additional 79,087 shares during the period. Harvey Partners LLC boosted its stake in shares of Great Lakes Dredge & Dock by 9.8% in the third quarter. Harvey Partners LLC now owns 3,647,500 shares of the construction company’s stock valued at $38,408,000 after buying an additional 325,500 shares during the period. Minerva Advisors LLC grew its position in Great Lakes Dredge & Dock by 1.5% during the third quarter. Minerva Advisors LLC now owns 1,341,807 shares of the construction company’s stock worth $14,116,000 after buying an additional 19,470 shares in the last quarter. Private Management Group Inc. increased its stake in Great Lakes Dredge & Dock by 2.9% during the 2nd quarter. Private Management Group Inc. now owns 1,253,165 shares of the construction company’s stock worth $11,003,000 after acquiring an additional 35,077 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Great Lakes Dredge & Dock in the 3rd quarter valued at $6,744,000. 89.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Great Lakes Dredge & Dock

In other Great Lakes Dredge & Dock news, Director Kathleen M. Shanahan sold 23,238 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $12.63, for a total value of $293,495.94. Following the sale, the director now owns 67,675 shares in the company, valued at $854,735.25. This trade represents a 25.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Noble Financial increased their target price on Great Lakes Dredge & Dock from $11.00 to $14.00 and gave the stock an “outperform” rating in a report on Monday, September 23rd.

Great Lakes Dredge & Dock Stock Performance

Shares of NASDAQ:GLDD opened at $11.64 on Wednesday. Great Lakes Dredge & Dock Co. has a 1 year low of $6.55 and a 1 year high of $12.89. The stock has a market capitalization of $783.05 million, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 0.48 and a beta of 1.15. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.21 and a quick ratio of 1.01. The company’s 50 day simple moving average is $12.12 and its 200 day simple moving average is $10.40.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last issued its quarterly earnings results on Tuesday, November 5th. The construction company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.05). Great Lakes Dredge & Dock had a net margin of 7.97% and a return on equity of 13.35%. The business had revenue of $191.17 million during the quarter, compared to the consensus estimate of $180.80 million. During the same quarter in the previous year, the business posted ($0.09) EPS. As a group, research analysts predict that Great Lakes Dredge & Dock Co. will post 0.76 EPS for the current fiscal 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.