Charles Schwab Investment Management Inc. Cuts Holdings in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Charles Schwab Investment Management Inc. decreased its holdings in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD - Free Report) by 16.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 691,988 shares of the construction company's stock after selling 132,128 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.03% of Great Lakes Dredge & Dock worth $7,813,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Harvey Partners LLC grew its stake in Great Lakes Dredge & Dock by 9.8% during the 3rd quarter. Harvey Partners LLC now owns 3,647,500 shares of the construction company's stock valued at $38,408,000 after acquiring an additional 325,500 shares in the last quarter. TCW Group Inc. boosted its holdings in shares of Great Lakes Dredge & Dock by 5.0% during the 3rd quarter. TCW Group Inc. now owns 2,095,834 shares of the construction company's stock worth $22,069,000 after purchasing an additional 99,696 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Great Lakes Dredge & Dock by 1.4% in the third 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 in the last quarter. State Street Corp increased its holdings in shares of Great Lakes Dredge & Dock by 0.9% in the third quarter. State Street Corp now owns 1,540,516 shares of the construction company's stock valued at $16,222,000 after purchasing an additional 13,010 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Great Lakes Dredge & Dock during the third quarter worth approximately $6,744,000. 89.11% of the stock is currently owned by institutional investors and hedge funds.

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Great Lakes Dredge & Dock Trading Up 0.2 %

NASDAQ:GLDD traded up $0.02 during trading hours on Thursday, hitting $8.99. The company had a trading volume of 236,916 shares, compared to its average volume of 429,923. Great Lakes Dredge & Dock Co. has a 1 year low of $6.55 and a 1 year high of $12.89. The company has a market cap of $604.87 million, a P/E ratio of 10.70, a P/E/G ratio of 1.06 and a beta of 1.21. The company has a 50-day moving average of $9.83 and a 200 day moving average of $10.97. The company has a current ratio of 1.21, a quick ratio of 1.01 and a debt-to-equity ratio of 0.97.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last announced its quarterly earnings data 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. Great Lakes Dredge & Dock had a net margin of 7.51% and a return on equity of 13.72%. The firm had revenue of $202.77 million during the quarter, compared to analyst estimates of $211.20 million. Sell-side analysts expect that Great Lakes Dredge & Dock Co. will post 0.69 earnings per share for the current year.

Great Lakes Dredge & Dock declared that its board has approved a share buyback plan on Friday, March 14th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the construction company to reacquire up to 8.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Transactions at Great Lakes Dredge & Dock

In other Great Lakes Dredge & Dock news, SVP Christopher Gunsten purchased 3,875 shares of the stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average cost of $7.75 per share, for a total transaction of $30,031.25. Following the acquisition, the senior vice president now owns 61,532 shares in the company, valued at $476,873. This trade represents a 6.72 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.20% of the company's stock.

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.