Dimensional Fund Advisors LP Sells 15,459 Shares of Great Lakes Dredge & Dock Co. (GLDD)

Dimensional Fund Advisors LP lowered its stake in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 0.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 5,205,731 shares of the construction company’s stock after selling 15,459 shares during the quarter. Dimensional Fund Advisors LP owned 0.08% of Great Lakes Dredge & Dock worth $27,330,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Foundry Partners LLC bought a new stake in Great Lakes Dredge & Dock during the first quarter worth $2,564,000. MetLife Investment Advisors LLC grew its holdings in Great Lakes Dredge & Dock by 164.5% during the first quarter. MetLife Investment Advisors LLC now owns 27,775 shares of the construction company’s stock worth $128,000 after buying an additional 17,274 shares in the last quarter. Levin Capital Strategies L.P. grew its holdings in Great Lakes Dredge & Dock by 78.2% during the first quarter. Levin Capital Strategies L.P. now owns 37,000 shares of the construction company’s stock worth $170,000 after buying an additional 16,238 shares in the last quarter. Harvey Partners LLC bought a new position in Great Lakes Dredge & Dock in the 1st quarter valued at $1,202,000. Finally, Picton Mahoney Asset Management grew its stake in Great Lakes Dredge & Dock by 8.8% in the 2nd quarter. Picton Mahoney Asset Management now owns 175,000 shares of the construction company’s stock valued at $919,000 after purchasing an additional 14,211 shares during the period. Institutional investors and hedge funds own 71.79% of the company’s stock.

In other news, CEO Lasse Petterson purchased 50,000 shares of the company’s stock in a transaction dated Tuesday, August 14th. The shares were purchased at an average price of $5.30 per share, with a total value of $265,000.00. Following the transaction, the chief executive officer now directly owns 675,609 shares of the company’s stock, valued at $3,580,727.70. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 9.13% of the stock is owned by corporate insiders.

Shares of NASDAQ:GLDD opened at $6.01 on Tuesday. The firm has a market capitalization of $386.29 million, a price-to-earnings ratio of -22.26 and a beta of 0.64. The company has a quick ratio of 1.54, a current ratio of 1.79 and a debt-to-equity ratio of 1.86. Great Lakes Dredge & Dock Co. has a 1 year low of $4.15 and a 1 year high of $6.39.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last announced its quarterly earnings data on Wednesday, August 1st. The construction company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. The firm had revenue of $150.59 million during the quarter, compared to the consensus estimate of $182.50 million. Great Lakes Dredge & Dock had a negative return on equity of 8.35% and a negative net margin of 3.69%. The business’s revenue for the quarter was down 14.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.07) EPS. On average, equities analysts forecast that Great Lakes Dredge & Dock Co. will post 0.01 EPS for the current fiscal year.

A number of research analysts have issued reports on GLDD shares. Zacks Investment Research downgraded Great Lakes Dredge & Dock from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 4th. Noble Financial restated a “buy” rating and issued a $8.00 price objective on shares of Great Lakes Dredge & Dock in a research note on Wednesday, July 18th. ValuEngine upgraded Great Lakes Dredge & Dock from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 19th. BidaskClub upgraded Great Lakes Dredge & Dock from a “hold” rating to a “buy” rating in a research note on Tuesday, July 24th. Finally, TheStreet upgraded Great Lakes Dredge & Dock from a “d+” rating to a “c-” rating in a research note on Monday, September 10th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Great Lakes Dredge & Dock currently has an average rating of “Buy” and an average target price of $7.50.

Great Lakes Dredge & Dock Company Profile

Great Lakes Dredge & Dock Corporation provides dredging services in the United States and internationally. It operates through two segments, Dredging, and Environmental & Infrastructure. The Dredging segment is involved 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.

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

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