ExodusPoint Capital Management LP purchased a new position in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 70,324 shares of the construction company's stock, valued at approximately $794,000. ExodusPoint Capital Management LP owned about 0.10% of Great Lakes Dredge & Dock as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of GLDD. Vanguard Group Inc. increased its position in shares of Great Lakes Dredge & Dock by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 3,877,588 shares of the construction company's stock valued at $43,778,000 after acquiring an additional 27,610 shares during the period. American Century Companies Inc. increased its position in Great Lakes Dredge & Dock by 40.7% during the 4th quarter. American Century Companies Inc. now owns 1,615,591 shares of the construction company's stock valued at $18,240,000 after buying an additional 467,164 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Great Lakes Dredge & Dock by 1.4% during 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 acquiring an additional 22,166 shares in the last quarter. State Street Corp raised its holdings in 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 worth $16,222,000 after buying an additional 13,010 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Great Lakes Dredge & Dock by 259.6% in the 4th quarter. JPMorgan Chase & Co. now owns 820,397 shares of the construction company's stock worth $9,262,000 after acquiring an additional 592,276 shares during the last quarter. 89.11% of the stock is owned by institutional investors.
Great Lakes Dredge & Dock Stock Performance
Shares of NASDAQ:GLDD traded down $0.23 during midday trading on Wednesday, reaching $8.76. 97,957 shares of the company's stock traded hands, compared to its average volume of 451,861. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.01 and a current ratio of 1.21. The company has a market cap of $590.08 million, a price-to-earnings ratio of 10.43, a P/E/G ratio of 1.06 and a beta of 1.17. The stock has a 50 day moving average of $8.92 and a 200 day moving average of $10.81. Great Lakes Dredge & Dock Co. has a one year low of $6.55 and a one year high of $12.89.
Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The construction company reported $0.29 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $202.77 million during the quarter, compared to analysts' expectations of $211.20 million. 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 declared that its Board of Directors has approved a stock repurchase plan on Friday, March 14th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the construction company to purchase up to 8.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.
Insider Buying and Selling
In other news, SVP Christopher Gunsten purchased 3,875 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average cost of $7.75 per share, with a total value of $30,031.25. Following the completion of the purchase, the senior vice president now owns 61,532 shares in the company, valued at approximately $476,873. This represents a 6.72 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.00% of the stock is owned by insiders.
Great Lakes Dredge & Dock Profile
(
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.
Featured Articles
Before you consider Great Lakes Dredge & Dock, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Great Lakes Dredge & Dock wasn't on the list.
While Great Lakes Dredge & Dock currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
