Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) Shares Purchased by TCW Group Inc.

TCW Group Inc. increased its stake in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD - Free Report) by 5.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,095,834 shares of the construction company's stock after purchasing an additional 99,696 shares during the quarter. TCW Group Inc. owned approximately 3.12% of Great Lakes Dredge & Dock worth $22,069,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Quarry LP raised its stake in Great Lakes Dredge & Dock by 68.5% during the 2nd quarter. Quarry LP now owns 3,097 shares of the construction company's stock valued at $27,000 after purchasing an additional 1,259 shares during the period. Innealta Capital LLC purchased a new position in Great Lakes Dredge & Dock during the second quarter valued at $30,000. nVerses Capital LLC increased its holdings in Great Lakes Dredge & Dock by 400.0% in the 3rd quarter. nVerses Capital LLC now owns 3,500 shares of the construction company's stock valued at $37,000 after acquiring an additional 2,800 shares during the last quarter. CWM LLC lifted its stake in Great Lakes Dredge & Dock by 520.5% in the 2nd quarter. CWM LLC now owns 5,051 shares of the construction company's stock worth $44,000 after purchasing an additional 4,237 shares in the last quarter. Finally, ARS Investment Partners LLC grew its position in shares of Great Lakes Dredge & Dock by 11.0% during the second quarter. ARS Investment Partners LLC now owns 12,150 shares of the construction company's stock valued at $107,000 after purchasing an additional 1,200 shares in the last quarter. 89.11% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Kathleen M. Shanahan sold 23,238 shares of Great Lakes Dredge & Dock stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $12.63, for a total value of $293,495.94. Following the completion of the sale, the director now owns 67,675 shares in the company, valued at approximately $854,735.25. This trade represents a 25.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.10% of the stock is currently owned by company insiders.

Great Lakes Dredge & Dock Stock Up 0.6 %

Shares of NASDAQ GLDD traded up $0.07 during midday trading on Wednesday, reaching $12.73. 471,043 shares of the company's stock traded hands, compared to its average volume of 428,079. Great Lakes Dredge & Dock Co. has a one year low of $6.55 and a one year high of $12.89. The stock's 50 day simple moving average is $12.06 and its 200-day simple moving average is $10.22. The company has a market cap of $856.37 million, a price-to-earnings ratio of 14.69, a P/E/G ratio of 0.47 and a beta of 1.15. 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 released its earnings results on Tuesday, November 5th. The construction company reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.05). The company had revenue of $191.17 million during the quarter, compared to analyst estimates of $180.80 million. Great Lakes Dredge & Dock had a return on equity of 13.35% and a net margin of 7.97%. During the same quarter last year, the business earned ($0.09) earnings per share. On average, analysts predict that Great Lakes Dredge & Dock Co. will post 0.76 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on GLDD. StockNews.com downgraded Great Lakes Dredge & Dock from a "buy" rating to a "hold" rating in a research report on Thursday, August 15th. Noble Financial boosted their target price on shares of Great Lakes Dredge & Dock from $11.00 to $14.00 and gave the stock an "outperform" rating in a report on Monday, September 23rd.

Great Lakes Dredge & Dock Profile

Great Lakes Dredge & Dock Corporation provides dredging services in the United States. The company engages in capital dredging that consists of port expansion projects; coastal restoration and land reclamations; trench digging for pipelines, tunnels, and cables; and other dredging related to the construction of breakwaters, jetties, canals, and other marine structures.