94,718 Shares in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) Acquired by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans bought a new stake in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 94,718 shares of the construction company's stock, valued at approximately $1,069,000. Thrivent Financial for Lutherans owned approximately 0.14% of Great Lakes Dredge & Dock at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in GLDD. Harvey Partners LLC lifted its stake in shares of Great Lakes Dredge & Dock by 9.8% during the third quarter. Harvey Partners LLC now owns 3,647,500 shares of the construction company's stock worth $38,408,000 after purchasing an additional 325,500 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Great Lakes Dredge & Dock during the fourth quarter worth $2,322,000. JPMorgan Chase & Co. boosted its position in Great Lakes Dredge & Dock by 217.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 228,121 shares of the construction company's stock valued at $2,402,000 after buying an additional 156,341 shares during the last quarter. Jackson Creek Investment Advisors LLC acquired a new stake in shares of Great Lakes Dredge & Dock during the fourth quarter valued at about $1,468,000. Finally, BNP Paribas Financial Markets increased its position in shares of Great Lakes Dredge & Dock by 60.5% during the third quarter. BNP Paribas Financial Markets now owns 287,248 shares of the construction company's stock worth $3,025,000 after acquiring an additional 108,227 shares during the last quarter. 89.11% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Great Lakes Dredge & Dock news, SVP Christopher Gunsten bought 3,875 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were purchased at an average price of $7.75 per share, with a total value of $30,031.25. Following the purchase, the senior vice president now directly owns 61,532 shares of the company's stock, valued at approximately $476,873. The trade was a 6.72 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 2.20% of the company's stock.

Great Lakes Dredge & Dock Stock Down 5.8 %

Shares of GLDD traded down $0.50 during trading on Friday, reaching $8.07. The company's stock had a trading volume of 621,366 shares, compared to its average volume of 448,767. The company has a market cap of $543.60 million, a price-to-earnings ratio of 9.61, a P/E/G ratio of 1.06 and a beta of 1.21. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.97. The company has a fifty day moving average of $9.36 and a two-hundred day moving average of $10.93. Great Lakes Dredge & Dock Co. has a twelve month low of $6.55 and a twelve month high of $12.89.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last issued its earnings results on Tuesday, February 18th. The construction company reported $0.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.06. The business had revenue of $202.77 million for the quarter, compared to analyst estimates of $211.20 million. Great Lakes Dredge & Dock had a net margin of 7.51% and a return on equity of 13.72%. On average, sell-side 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 of Directors has authorized a share repurchase plan on Friday, March 14th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the construction company to purchase up to 8.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

Great Lakes Dredge & Dock 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.