Arrowstreet Capital Limited Partnership Has $3.60 Million Stock Position in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Arrowstreet Capital Limited Partnership grew its holdings in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD - Free Report) by 681.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 318,600 shares of the construction company's stock after buying an additional 277,848 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.47% of Great Lakes Dredge & Dock worth $3,597,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. AlphaQuest LLC acquired a new stake in Great Lakes Dredge & Dock in the 4th quarter valued at about $33,000. R Squared Ltd bought a new position in Great Lakes Dredge & Dock in the 4th quarter worth approximately $69,000. Semanteon Capital Management LP acquired a new position in Great Lakes Dredge & Dock during the 4th quarter worth $130,000. KLP Kapitalforvaltning AS bought a new position in Great Lakes Dredge & Dock in the 4th quarter valued at $132,000. Finally, Passumpsic Savings Bank acquired a new stake in shares of Great Lakes Dredge & Dock in the 4th quarter valued at $135,000. 89.11% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Christopher Gunsten acquired 3,875 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average price of $7.75 per share, for a total transaction of $30,031.25. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.20% of the stock is currently owned by company insiders.

Great Lakes Dredge & Dock Trading Up 0.1 %

Shares of GLDD traded up $0.01 during trading hours on Monday, hitting $8.89. 24,521 shares of the stock traded hands, compared to its average volume of 452,849. The business has a fifty day moving average of $9.01 and a 200-day moving average of $10.83. The company has a current ratio of 1.21, a quick ratio of 1.01 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $598.84 million, a PE ratio of 10.58, a price-to-earnings-growth ratio of 1.06 and a beta of 1.17. Great Lakes Dredge & Dock Co. has a 1-year low of $6.55 and a 1-year 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 the consensus estimate of $0.23 by $0.06. The company 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%. Analysts expect that Great Lakes Dredge & Dock Co. will post 0.69 EPS for the current year.

Great Lakes Dredge & Dock announced that its board has approved a share buyback plan on Friday, March 14th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the construction company to buy up to 8.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's leadership believes its shares are 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.