American Century Companies Inc. Raises Position in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

American Century Companies Inc. boosted its stake in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD - Free Report) by 40.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,615,591 shares of the construction company's stock after buying an additional 467,164 shares during the period. American Century Companies Inc. owned approximately 2.40% of Great Lakes Dredge & Dock worth $18,240,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Harvey Partners LLC lifted its stake in shares of Great Lakes Dredge & Dock by 9.8% in the third quarter. Harvey Partners LLC now owns 3,647,500 shares of the construction company's stock worth $38,408,000 after buying an additional 325,500 shares in the last quarter. TCW Group Inc. lifted its position in Great Lakes Dredge & Dock by 5.0% in the 3rd quarter. TCW Group Inc. now owns 2,095,834 shares of the construction company's stock valued at $22,069,000 after acquiring an additional 99,696 shares in the last quarter. Geode Capital Management LLC boosted its stake in Great Lakes Dredge & Dock by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,561,897 shares of the construction company's stock valued at $16,450,000 after purchasing an additional 22,166 shares during the last quarter. State Street Corp increased its holdings in shares of Great Lakes Dredge & Dock by 0.9% in the 3rd quarter. State Street Corp now owns 1,540,516 shares of the construction company's stock worth $16,222,000 after purchasing an additional 13,010 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of Great Lakes Dredge & Dock by 60.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 287,248 shares of the construction company's stock worth $3,025,000 after purchasing an additional 108,227 shares in the last quarter. Hedge funds and other institutional investors own 89.11% of the company's stock.

Insider Activity at Great Lakes Dredge & Dock

In other news, SVP Christopher Gunsten acquired 3,875 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average price of $7.75 per share, with a total value of $30,031.25. Following the completion of the acquisition, 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.20% of the stock is owned by insiders.

Great Lakes Dredge & Dock Stock Performance

Shares of NASDAQ:GLDD traded down $0.50 during midday trading on Friday, reaching $8.07. 621,366 shares of the company's stock traded hands, compared to its average volume of 448,767. 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 one year low of $6.55 and a one year high of $12.89. 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 stock has a 50 day moving average of $9.36 and a 200 day moving average of $10.93.

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 for the quarter, topping analysts' consensus estimates of $0.23 by $0.06. The business had revenue of $202.77 million during the quarter, compared to analyst estimates of $211.20 million. Great Lakes Dredge & Dock had a return on equity of 13.72% and a net margin of 7.51%. As a group, equities research analysts anticipate 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 initiated a share buyback plan on Friday, March 14th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the construction company to repurchase up to 8.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company's leadership believes its stock is undervalued.

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.