Great Lakes Dredge & Dock Corporation (GLDD) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) by 0.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 650,954 shares of the construction company’s stock after selling 2,699 shares during the period. Bank of New York Mellon Corp owned 1.06% of Great Lakes Dredge & Dock Corporation worth $2,798,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in shares of Great Lakes Dredge & Dock Corporation by 4.9% in the first quarter. Geode Capital Management LLC now owns 450,229 shares of the construction company’s stock worth $1,800,000 after acquiring an additional 21,195 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Great Lakes Dredge & Dock Corporation by 10.3% in the first quarter. Vanguard Group Inc. now owns 2,368,148 shares of the construction company’s stock worth $9,472,000 after acquiring an additional 220,755 shares during the last quarter. OppenheimerFunds Inc. raised its stake in shares of Great Lakes Dredge & Dock Corporation by 4.8% in the first quarter. OppenheimerFunds Inc. now owns 39,677 shares of the construction company’s stock worth $159,000 after acquiring an additional 1,807 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Great Lakes Dredge & Dock Corporation in the first quarter worth about $101,000. Finally, Falcon Point Capital LLC bought a new position in shares of Great Lakes Dredge & Dock Corporation in the second quarter worth about $977,000. 71.75% of the stock is owned by institutional investors.

Shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) opened at 5.30 on Thursday. The stock’s 50 day moving average is $4.56 and its 200 day moving average is $4.32. The firm’s market cap is $325.45 million. Great Lakes Dredge & Dock Corporation has a 12 month low of $3.05 and a 12 month high of $5.45.

Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) last issued its quarterly earnings data on Wednesday, August 2nd. The construction company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The business had revenue of $176.90 million during the quarter, compared to the consensus estimate of $201.70 million. Great Lakes Dredge & Dock Corporation had a negative net margin of 2.62% and a positive return on equity of 1.00%. The firm’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.03) EPS. Analysts forecast that Great Lakes Dredge & Dock Corporation will post ($0.01) EPS for the current fiscal year.

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A number of equities analysts have weighed in on the stock. ValuEngine downgraded shares of Great Lakes Dredge & Dock Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. BidaskClub downgraded shares of Great Lakes Dredge & Dock Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $6.50 target price on shares of Great Lakes Dredge & Dock Corporation in a research note on Tuesday, July 11th.

In other Great Lakes Dredge & Dock Corporation news, CEO Lasse Petterson acquired 17,255 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was acquired at an average price of $3.70 per share, for a total transaction of $63,843.50. Following the acquisition, the chief executive officer now directly owns 349,176 shares in the company, valued at $1,291,951.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders purchased 291,904 shares of company stock valued at $1,095,805. 8.24% of the stock is owned by company insiders.

Great Lakes Dredge & Dock Corporation Profile

Great Lakes Dredge & Dock Corporation is a provider of dredging services. The Company provides dredging services in the East, West and Gulf Coasts of the United States and around the world. It operates in two segments: Dredging Operations, which involves enhancement or preservation of navigability of waterways or the protection of shorelines through the removal or replenishment of soil, sand or rock, and Environmental & Remediation Operations, which provides construction services on soil, water and sediment for clients in both the public and private sectors.

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Institutional Ownership by Quarter for Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD)

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