Quantbot Technologies LP Purchases 38,963 Shares of Great Lakes Dredge & Dock Corporation $GLDD

Quantbot Technologies LP raised its stake in shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) by 127.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 69,639 shares of the construction company’s stock after acquiring an additional 38,963 shares during the quarter. Quantbot Technologies LP owned approximately 0.10% of Great Lakes Dredge & Dock worth $849,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GLDD. Nuveen LLC purchased a new stake in shares of Great Lakes Dredge & Dock during the first quarter valued at $3,960,000. American Century Companies Inc. lifted its position in shares of Great Lakes Dredge & Dock by 22.0% during the 1st quarter. American Century Companies Inc. now owns 1,970,775 shares of the construction company’s stock valued at $17,146,000 after buying an additional 355,184 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Great Lakes Dredge & Dock during the 2nd quarter worth about $2,932,000. Brandywine Global Investment Management LLC acquired a new position in shares of Great Lakes Dredge & Dock during the first quarter valued at approximately $2,130,000. Finally, Segall Bryant & Hamill LLC purchased a new position in Great Lakes Dredge & Dock in the 2nd quarter valued at $2,723,000. 89.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on GLDD. Zacks Research raised Great Lakes Dredge & Dock from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 10th. Weiss Ratings reissued a “hold (c+)” rating on shares of Great Lakes Dredge & Dock in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy”.

Great Lakes Dredge & Dock Stock Performance

Shares of GLDD opened at $13.56 on Wednesday. Great Lakes Dredge & Dock Corporation has a 1 year low of $7.51 and a 1 year high of $13.70. The stock has a market capitalization of $922.08 million, a PE ratio of 11.49, a PEG ratio of 1.01 and a beta of 1.43. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.06 and a current ratio of 1.20. The stock has a 50-day simple moving average of $11.98 and a 200-day simple moving average of $11.74.

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

Insider Activity

In other news, SVP David Johanson sold 10,000 shares of Great Lakes Dredge & Dock stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $13.02, for a total transaction of $130,200.00. Following the completion of the sale, the senior vice president directly owned 94,063 shares of the company’s stock, valued at approximately $1,224,700.26. The trade was a 9.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.00% of the company’s stock.

About Great Lakes Dredge & Dock

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.