AQR Capital Management LLC Purchases 164,780 Shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

AQR Capital Management LLC grew its position in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 379.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 208,218 shares of the construction company’s stock after buying an additional 164,780 shares during the quarter. AQR Capital Management LLC owned approximately 0.31% of Great Lakes Dredge & Dock worth $1,828,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Jennison Associates LLC grew its position in Great Lakes Dredge & Dock by 1.4% during the 1st quarter. Jennison Associates LLC now owns 4,359,725 shares of the construction company’s stock worth $38,148,000 after acquiring an additional 60,307 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Great Lakes Dredge & Dock by 1.4% during the first quarter. Vanguard Group Inc. now owns 3,413,673 shares of the construction company’s stock worth $29,870,000 after purchasing an additional 48,760 shares during the last quarter. TCW Group Inc. increased its stake in shares of Great Lakes Dredge & Dock by 2.0% in the second quarter. TCW Group Inc. now owns 1,996,138 shares of the construction company’s stock valued at $17,526,000 after buying an additional 38,200 shares in the last quarter. Private Management Group Inc. raised its holdings in shares of Great Lakes Dredge & Dock by 2.9% in the second quarter. Private Management Group Inc. now owns 1,253,165 shares of the construction company’s stock valued at $11,003,000 after buying an additional 35,077 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in Great Lakes Dredge & Dock by 2.6% during the 4th quarter. Wellington Management Group LLP now owns 451,626 shares of the construction company’s stock worth $3,468,000 after buying an additional 11,640 shares in the last quarter. Institutional investors and hedge funds own 89.11% of the company’s stock.

Analyst Upgrades and Downgrades

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

Great Lakes Dredge & Dock Price Performance

Shares of GLDD stock opened at $11.62 on Thursday. The firm has a market cap of $778.64 million, a price-to-earnings ratio of 20.39, a PEG ratio of 0.38 and a beta of 1.15. Great Lakes Dredge & Dock Co. has a 12 month low of $6.11 and a 12 month high of $11.98. The company has a quick ratio of 1.13, a current ratio of 1.32 and a debt-to-equity ratio of 0.98. The stock has a 50-day moving average price of $9.75 and a 200 day moving average price of $9.02.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last issued its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.11 EPS for the quarter, topping the consensus estimate 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 company had revenue of $170.09 million during the quarter, compared to analysts’ expectations of $165.00 million. During the same quarter in the previous year, the company earned $0.03 EPS. Research analysts expect that Great Lakes Dredge & Dock Co. will post 0.8 EPS for the current year.

Insider Buying and Selling at Great Lakes Dredge & Dock

In other news, CEO Lasse Petterson sold 53,771 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $9.06, for a total value of $487,165.26. Following the transaction, the chief executive officer now owns 987,758 shares of the company’s stock, valued at $8,949,087.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders sold 128,990 shares of company stock worth $1,174,747. Insiders own 2.20% of the company’s stock.

Great Lakes Dredge & Dock 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.