JPMorgan Chase & Co. Has $2.40 Million Stake in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

JPMorgan Chase & Co. increased its stake in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 217.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 228,121 shares of the construction company’s stock after acquiring an additional 156,341 shares during the period. JPMorgan Chase & Co. owned 0.34% of Great Lakes Dredge & Dock worth $2,402,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Quarry LP increased its holdings in shares of Great Lakes Dredge & Dock by 68.5% during the 2nd quarter. Quarry LP now owns 3,097 shares of the construction company’s stock valued at $27,000 after acquiring an additional 1,259 shares during the last quarter. nVerses Capital LLC grew its holdings in Great Lakes Dredge & Dock by 400.0% in the 3rd quarter. nVerses Capital LLC now owns 3,500 shares of the construction company’s stock valued at $37,000 after buying an additional 2,800 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Great Lakes Dredge & Dock in the 3rd quarter valued at approximately $147,000. Intech Investment Management LLC acquired a new stake in Great Lakes Dredge & Dock in the 3rd quarter valued at approximately $157,000. Finally, Quantbot Technologies LP grew its holdings in Great Lakes Dredge & Dock by 204.5% in the 3rd quarter. Quantbot Technologies LP now owns 14,973 shares of the construction company’s stock valued at $158,000 after buying an additional 10,055 shares during the last quarter. Institutional investors and hedge funds own 89.11% of the company’s stock.

Great Lakes Dredge & Dock Stock Performance

GLDD opened at $12.44 on Wednesday. The firm has a market capitalization of $836.84 million, a P/E ratio of 14.30, a price-to-earnings-growth ratio of 0.39 and a beta of 1.17. The stock’s 50 day moving average price is $11.98 and its two-hundred day moving average price is $10.78. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.97. Great Lakes Dredge & Dock Co. has a 12-month low of $6.55 and a 12-month high of $12.89.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last released its earnings results on Tuesday, November 5th. The construction company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.05). The business had revenue of $191.17 million during the quarter, compared to analyst estimates of $180.80 million. Great Lakes Dredge & Dock had a net margin of 7.97% and a return on equity of 13.35%. During the same period last year, the business earned ($0.09) EPS. On average, equities analysts forecast that Great Lakes Dredge & Dock Co. will post 0.76 earnings per share for the current year.

Insiders Place Their Bets

In other Great Lakes Dredge & Dock news, Director Kathleen M. Shanahan sold 23,238 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $12.63, for a total value of $293,495.94. Following the completion of the sale, the director now owns 67,675 shares in the company, valued at approximately $854,735.25. This trade represents a 25.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.10% of the company’s stock.

Great Lakes Dredge & Dock Company 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.