AlphaQuest LLC Invests $33,000 in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

AlphaQuest LLC purchased a new position in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,927 shares of the construction company’s stock, valued at approximately $33,000.

Other large investors have also recently made changes to their positions in the company. R Squared Ltd bought a new position in shares of Great Lakes Dredge & Dock in the fourth quarter worth $69,000. Passumpsic Savings Bank bought a new position in shares of Great Lakes Dredge & Dock in the fourth quarter worth $135,000. Point72 Asset Management L.P. bought a new position in shares of Great Lakes Dredge & Dock in the third quarter worth $147,000. New York State Common Retirement Fund boosted its holdings in shares of Great Lakes Dredge & Dock by 64.8% in the fourth quarter. New York State Common Retirement Fund now owns 14,753 shares of the construction company’s stock worth $167,000 after acquiring an additional 5,800 shares during the period. Finally, Intech Investment Management LLC bought a new position in shares of Great Lakes Dredge & Dock in the third quarter worth $157,000. 89.11% of the stock is owned by institutional investors.

Great Lakes Dredge & Dock Price Performance

Great Lakes Dredge & Dock stock opened at $9.11 on Friday. Great Lakes Dredge & Dock Co. has a one year low of $6.55 and a one year high of $12.89. The business has a fifty day moving average price of $9.98 and a 200-day moving average price of $10.96. 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 firm has a market capitalization of $612.95 million, a P/E ratio of 10.85, a PEG ratio of 1.06 and a beta of 1.21.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last posted its quarterly earnings data on Tuesday, February 18th. The construction company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.06. The company had revenue of $202.77 million during the quarter, compared to analyst estimates of $211.20 million. Great Lakes Dredge & Dock had a return on equity of 13.72% and a net margin of 7.51%. As a group, equities research analysts forecast that Great Lakes Dredge & Dock Co. will post 0.69 EPS for the current year.

Great Lakes Dredge & Dock announced that its Board of Directors has initiated a stock buyback program on Friday, March 14th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the construction company to reacquire up to 8.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Great Lakes Dredge & Dock

In other Great Lakes Dredge & Dock news, SVP Christopher Gunsten acquired 3,875 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average price of $7.75 per share, with a total value of $30,031.25. Following the completion of the purchase, the senior vice president now owns 61,532 shares of the company’s stock, valued at approximately $476,873. This represents a 6.72 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.20% of the stock is owned by corporate insiders.

Great Lakes Dredge & Dock Profile

Great Lakes Dredge & Dock Corp. engages in the provision of dredging services. Its projects include channel and port maintenance, channel deepening and port expansion, coastal protection and restoration, as well as land reclamation. The company was founded by William A. Lydon and Frederick C. Drews in 1890 and is headquartered in Houston, TX.