CenterBook Partners LP lessened its holdings in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD - Free Report) by 43.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 416,815 shares of the construction company's stock after selling 326,192 shares during the quarter. CenterBook Partners LP owned approximately 0.62% of Great Lakes Dredge & Dock worth $4,706,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. AlphaQuest LLC purchased a new stake in shares of Great Lakes Dredge & Dock in the 4th quarter worth $33,000. Federated Hermes Inc. raised its holdings in shares of Great Lakes Dredge & Dock by 878.9% in the fourth quarter. Federated Hermes Inc. now owns 5,619 shares of the construction company's stock worth $63,000 after buying an additional 5,045 shares during the last quarter. R Squared Ltd purchased a new position in Great Lakes Dredge & Dock in the 4th quarter worth $69,000. Semanteon Capital Management LP acquired a new stake in shares of Great Lakes Dredge & Dock during the fourth quarter worth about $130,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in Great Lakes Dredge & Dock during the 4th quarter valued at approximately $132,000. Hedge funds and other institutional investors own 89.11% of the company's stock.
Insiders Place Their Bets
In other Great Lakes Dredge & Dock news, SVP Christopher Gunsten bought 3,875 shares of the firm's stock in a transaction on Tuesday, March 4th. The shares were acquired at an average cost 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 $476,873. This trade represents a 6.72 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 2.20% of the stock is owned by company insiders.
Great Lakes Dredge & Dock Stock Performance
Shares of NASDAQ:GLDD traded down $0.06 during trading on Monday, hitting $8.82. 107,773 shares of the stock traded hands, compared to its average volume of 451,777. The company has a fifty day moving average price of $9.01 and a two-hundred day moving average price of $10.83. The company has a market cap of $594.12 million, a price-to-earnings ratio of 10.50, a P/E/G ratio of 1.06 and a beta of 1.17. Great Lakes Dredge & Dock Co. has a 52-week low of $6.55 and a 52-week high of $12.89. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.97.
Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last announced its earnings results on Tuesday, February 18th. The construction company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.06. Great Lakes Dredge & Dock had a return on equity of 13.72% and a net margin of 7.51%. The business had revenue of $202.77 million during the quarter, compared to the consensus estimate of $211.20 million. As a group, equities analysts predict that Great Lakes Dredge & Dock Co. will post 0.69 EPS for the current year.
Great Lakes Dredge & Dock announced that its Board of Directors has initiated a stock buyback plan on Friday, March 14th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the construction company to repurchase up to 8.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership believes its shares are undervalued.
About Great Lakes Dredge & Dock
(
Free Report)
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.
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