Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) SVP Eleni Beyko Sells 22,579 Shares

Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) SVP Eleni Beyko sold 22,579 shares of Great Lakes Dredge & Dock stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $10.26, for a total value of $231,660.54. Following the completion of the transaction, the senior vice president now directly owns 50,138 shares of the company’s stock, valued at approximately $514,415.88. This trade represents a 31.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Great Lakes Dredge & Dock Stock Up 7.1 %

Great Lakes Dredge & Dock stock opened at $10.58 on Friday. The stock has a market cap of $712.68 million, a PE ratio of 12.60, a price-to-earnings-growth ratio of 1.06 and a beta of 1.23. The firm’s 50-day simple moving average is $8.79 and its 200 day simple moving average is $10.54. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.01 and a current ratio of 1.21. Great Lakes Dredge & Dock Co. has a fifty-two week low of $7.51 and a fifty-two week high of $12.89.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last posted its quarterly earnings results on Tuesday, May 6th. The construction company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.25 by $0.24. The firm had revenue of $242.87 million for the quarter, compared to the consensus estimate of $206.70 million. Great Lakes Dredge & Dock had a net margin of 7.51% and a return on equity of 13.72%. Research analysts predict that Great Lakes Dredge & Dock Co. will post 0.69 EPS for the current fiscal year.

Great Lakes Dredge & Dock announced that its board has approved a stock repurchase program on Friday, March 14th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the construction company to repurchase up to 8.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Great Lakes Dredge & Dock

Hedge funds and other institutional investors have recently modified their holdings of the company. Mirabaud & Cie SA bought a new position in shares of Great Lakes Dredge & Dock during the 1st quarter valued at approximately $209,000. Minerva Advisors LLC lifted its holdings in shares of Great Lakes Dredge & Dock by 3.6% in the 1st quarter. Minerva Advisors LLC now owns 1,389,807 shares of the construction company’s stock worth $12,091,000 after buying an additional 48,000 shares during the period. XTX Topco Ltd purchased a new stake in shares of Great Lakes Dredge & Dock in the 1st quarter worth approximately $130,000. Corton Capital Inc. purchased a new stake in shares of Great Lakes Dredge & Dock during the 1st quarter worth $269,000. Finally, TCW Group Inc. lifted its holdings in shares of Great Lakes Dredge & Dock by 4.0% during the 1st quarter. TCW Group Inc. now owns 2,153,534 shares of the construction company’s stock valued at $18,736,000 after purchasing an additional 82,700 shares during the last quarter. 89.11% of the stock is owned by hedge funds and other institutional investors.

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.