Great Lakes Dredge & Dock (NASDAQ:GLDD) SVP David Johanson Sells 10,000 Shares

Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) SVP David Johanson sold 10,000 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $13.02, for a total value of $130,200.00. Following the transaction, the senior vice president owned 94,063 shares of the company’s stock, valued at $1,224,700.26. The trade was a 9.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Great Lakes Dredge & Dock Stock Down 1.2%

Great Lakes Dredge & Dock stock traded down $0.16 during mid-day trading on Thursday, reaching $12.89. The stock had a trading volume of 359,129 shares, compared to its average volume of 464,634. Great Lakes Dredge & Dock Corporation has a one year low of $7.51 and a one year high of $13.10. The company has a 50-day moving average price of $11.88 and a two-hundred day moving average price of $11.67. The company has a market capitalization of $876.52 million, a price-to-earnings ratio of 10.92, a PEG ratio of 0.97 and a beta of 1.43. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.20 and a quick ratio of 1.06.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last released its quarterly earnings data on Tuesday, November 4th. The construction company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.09. The business had revenue of $195.21 million during the quarter, compared to analyst estimates of $201.30 million. Great Lakes Dredge & Dock had a net margin of 9.65% and a return on equity of 16.84%. On average, analysts expect that Great Lakes Dredge & Dock Corporation will post 0.69 EPS for the current fiscal year.

Hedge Funds Weigh In On Great Lakes Dredge & Dock

Hedge funds and other institutional investors have recently modified their holdings of the company. MAI Capital Management grew its holdings in shares of Great Lakes Dredge & Dock by 79.2% in the third quarter. MAI Capital Management now owns 2,161 shares of the construction company’s stock worth $26,000 after acquiring an additional 955 shares during the period. State of Alaska Department of Revenue purchased a new position in Great Lakes Dredge & Dock in the third quarter worth about $46,000. Federated Hermes Inc. boosted its position in Great Lakes Dredge & Dock by 43.5% in the second quarter. Federated Hermes Inc. now owns 4,965 shares of the construction company’s stock worth $61,000 after purchasing an additional 1,505 shares during the last quarter. Strs Ohio bought a new stake in shares of Great Lakes Dredge & Dock during the 1st quarter valued at about $45,000. Finally, Quarry LP increased its position in shares of Great Lakes Dredge & Dock by 213.7% during the 1st quarter. Quarry LP now owns 5,503 shares of the construction company’s stock valued at $48,000 after purchasing an additional 3,749 shares during the last quarter. 89.11% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on GLDD shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Great Lakes Dredge & Dock in a research report on Wednesday, October 8th. Zacks Research raised Great Lakes Dredge & Dock from a “hold” rating to a “strong-buy” rating in a report on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

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.