Quantbot Technologies LP Boosts Stock Position in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Quantbot Technologies LP boosted its position in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 29.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,429 shares of the construction company’s stock after acquiring an additional 4,456 shares during the quarter. Quantbot Technologies LP’s holdings in Great Lakes Dredge & Dock were worth $219,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Barclays PLC lifted its position in shares of Great Lakes Dredge & Dock by 338.9% during the third quarter. Barclays PLC now owns 106,642 shares of the construction company’s stock worth $1,123,000 after purchasing an additional 82,344 shares in the last quarter. TCW Group Inc. increased its stake in Great Lakes Dredge & Dock by 5.0% during 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. AlphaQuest LLC acquired a new stake in Great Lakes Dredge & Dock during the 4th quarter worth approximately $33,000. Verition Fund Management LLC boosted its position in Great Lakes Dredge & Dock by 225.3% in the 3rd quarter. Verition Fund Management LLC now owns 60,127 shares of the construction company’s stock valued at $633,000 after buying an additional 41,645 shares during the period. Finally, PEAK6 Investments LLC grew its stake in shares of Great Lakes Dredge & Dock by 86.7% in the third quarter. PEAK6 Investments LLC now owns 95,685 shares of the construction company’s stock worth $1,008,000 after acquiring an additional 44,425 shares in the last quarter. 89.11% of the stock is owned by institutional investors and hedge funds.

Great Lakes Dredge & Dock Stock Down 1.7 %

Great Lakes Dredge & Dock stock opened at $8.84 on Friday. The firm has a market capitalization of $594.78 million, a P/E ratio of 10.52, a P/E/G ratio of 1.06 and a beta of 1.21. The stock’s fifty day simple moving average is $9.71 and its 200-day simple moving average is $10.96. Great Lakes Dredge & Dock Co. has a twelve month low of $6.55 and a twelve month high of $12.89. The company has a current ratio of 1.21, a quick ratio of 1.01 and a debt-to-equity ratio of 0.97.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last issued its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.06. The company had revenue of $202.77 million for the quarter, compared to the consensus estimate 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 analysts expect that Great Lakes Dredge & Dock Co. will post 0.69 earnings per share for the current fiscal year.

Great Lakes Dredge & Dock announced that its board has authorized a share buyback plan on Friday, March 14th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the construction company to purchase up to 8.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, SVP Christopher Gunsten acquired 3,875 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average cost of $7.75 per share, with a total value of $30,031.25. Following the transaction, the senior vice president now owns 61,532 shares in the company, valued at approximately $476,873. This trade represents a 6.72 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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.