Renaissance Technologies LLC Sells 137,823 Shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Renaissance Technologies LLC lessened its holdings in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 29.7% in the second quarter, according to its most recent filing with the SEC. The firm owned 325,601 shares of the construction company’s stock after selling 137,823 shares during the period. Renaissance Technologies LLC owned 0.49% of Great Lakes Dredge & Dock worth $2,859,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Innealta Capital LLC acquired a new position in shares of Great Lakes Dredge & Dock in the 2nd quarter valued at $30,000. CWM LLC lifted its position in Great Lakes Dredge & Dock by 520.5% during the 2nd quarter. CWM LLC now owns 5,051 shares of the construction company’s stock worth $44,000 after buying an additional 4,237 shares in the last quarter. ARS Investment Partners LLC raised its holdings in shares of Great Lakes Dredge & Dock by 11.0% in the 2nd quarter. ARS Investment Partners LLC now owns 12,150 shares of the construction company’s stock valued at $107,000 after purchasing an additional 1,200 shares during the period. Quadrature Capital Ltd bought a new stake in shares of Great Lakes Dredge & Dock in the 4th quarter valued at about $113,000. Finally, Bayesian Capital Management LP bought a new stake in shares of Great Lakes Dredge & Dock in the 1st quarter valued at about $137,000. Institutional investors and hedge funds own 89.11% of the company’s stock.

Great Lakes Dredge & Dock Price Performance

GLDD stock opened at $10.53 on Tuesday. The company has a fifty day moving average price of $9.45 and a 200-day moving average price of $8.87. The company has a market capitalization of $705.60 million, a P/E ratio of 18.47, a PEG ratio of 0.38 and a beta of 1.15. Great Lakes Dredge & Dock Co. has a 52-week low of $6.11 and a 52-week high of $10.93. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.13 and a current ratio of 1.32.

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

Insiders Place Their Bets

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 shares were sold at an average price of $9.08, for a total value of $422,310.80. Following the completion of 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders sold 128,990 shares of company stock worth $1,174,747. 2.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Noble Financial upped their price target on shares of Great Lakes Dredge & Dock from $11.00 to $14.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd. StockNews.com downgraded shares of Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research note on Thursday, August 15th.

About Great Lakes Dredge & Dock

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.