Victory Capital Management Inc. Reduces Position in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Victory Capital Management Inc. lowered its holdings in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 4.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 122,000 shares of the construction company’s stock after selling 6,000 shares during the period. Victory Capital Management Inc. owned about 0.18% of Great Lakes Dredge & Dock worth $1,071,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. GSA Capital Partners LLP purchased a new position in shares of Great Lakes Dredge & Dock during the 1st quarter valued at approximately $1,701,000. Dimensional Fund Advisors LP boosted its stake in Great Lakes Dredge & Dock by 4.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,356,468 shares of the construction company’s stock valued at $33,458,000 after acquiring an additional 192,053 shares during the last quarter. CenterBook Partners LP increased its position in shares of Great Lakes Dredge & Dock by 48.0% in the 4th quarter. CenterBook Partners LP now owns 211,702 shares of the construction company’s stock worth $1,626,000 after purchasing an additional 68,688 shares during the last quarter. Sugar Maple Asset Management LLC acquired a new stake in shares of Great Lakes Dredge & Dock in the 1st quarter valued at about $540,000. Finally, Jennison Associates LLC lifted its position in shares of Great Lakes Dredge & Dock by 1.4% during the first quarter. Jennison Associates LLC now owns 4,359,725 shares of the construction company’s stock worth $38,148,000 after purchasing an additional 60,307 shares during the last quarter. Institutional investors and hedge funds own 89.11% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research note on Thursday, August 15th.

Insider Activity at Great Lakes Dredge & Dock

In other Great Lakes Dredge & Dock news, CEO Lasse Petterson sold 46,510 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $9.08, for a total value of $422,310.80. Following the sale, the chief executive officer now directly owns 931,101 shares in the company, valued at $8,454,397.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 128,990 shares of company stock worth $1,174,747 in the last 90 days. 2.20% of the stock is currently owned by company insiders.

Great Lakes Dredge & Dock Stock Up 1.3 %

GLDD stock opened at $10.45 on Friday. The firm has a fifty day moving average price of $9.30 and a two-hundred day moving average price of $8.81. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.32 and a quick ratio of 1.13. Great Lakes Dredge & Dock Co. has a 1-year low of $6.11 and a 1-year high of $10.78. The firm has a market cap of $700.24 million, a price-to-earnings ratio of 18.33, a PEG ratio of 0.34 and a beta of 1.15.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last released its quarterly earnings data on Tuesday, August 6th. The construction company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.08. The firm had revenue of $170.09 million for the quarter, compared to analyst estimates of $165.00 million. Great Lakes Dredge & Dock had a net margin of 6.61% and a return on equity of 10.05%. During the same quarter in the prior year, the business earned $0.03 earnings per share. Research analysts predict that Great Lakes Dredge & Dock Co. will post 0.8 EPS for the current year.

Great Lakes Dredge & Dock Company 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.