Natixis Advisors LLC Sells 10,725 Shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Natixis Advisors LLC reduced its stake in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 37.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,950 shares of the construction company’s stock after selling 10,725 shares during the period. Natixis Advisors LLC’s holdings in Great Lakes Dredge & Dock were worth $203,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Harvey Partners LLC boosted its holdings 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 purchasing an additional 325,500 shares during the period. TCW Group Inc. lifted its holdings in shares of Great Lakes Dredge & Dock by 5.0% in the 3rd quarter. TCW Group Inc. now owns 2,095,834 shares of the construction company’s stock worth $22,069,000 after buying an additional 99,696 shares during the period. Geode Capital Management LLC grew its position in shares of Great Lakes Dredge & Dock by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,561,897 shares of the construction company’s stock worth $16,450,000 after buying an additional 22,166 shares in the last quarter. State Street Corp increased its stake in shares of Great Lakes Dredge & Dock by 0.9% during the third quarter. State Street Corp now owns 1,540,516 shares of the construction company’s stock valued at $16,222,000 after buying an additional 13,010 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in Great Lakes Dredge & Dock by 60.5% in the third quarter. BNP Paribas Financial Markets now owns 287,248 shares of the construction company’s stock worth $3,025,000 after acquiring an additional 108,227 shares during the period. 89.11% of the stock is owned by hedge funds and other institutional investors.

Great Lakes Dredge & Dock Trading Down 1.7 %

NASDAQ GLDD opened at $8.84 on Friday. Great Lakes Dredge & Dock Co. has a one year low of $6.55 and a one year high of $12.89. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.01 and a current ratio of 1.21. The company has a market capitalization of $594.78 million, a price-to-earnings ratio of 10.52, a price-to-earnings-growth ratio of 1.06 and a beta of 1.21. The company’s 50-day simple moving average is $9.71 and its two-hundred day simple moving average is $10.95.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last issued 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 for the quarter, compared to analyst estimates of $211.20 million. Great Lakes Dredge & Dock had a net margin of 7.51% and a return on equity of 13.72%. Equities analysts forecast that Great Lakes Dredge & Dock Co. will post 0.69 EPS for the current fiscal year.

Great Lakes Dredge & Dock declared that its board has initiated a stock buyback program on Friday, March 14th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the construction company to repurchase up to 8.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other news, SVP Christopher Gunsten acquired 3,875 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average price of $7.75 per share, with a total value of $30,031.25. Following the transaction, the senior vice president now directly owns 61,532 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.20% of the company’s stock.

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.