Harvey Partners LLC Has $38.41 Million Stake in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Harvey Partners LLC boosted its holdings in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD - Free Report) by 9.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,647,500 shares of the construction company's stock after purchasing an additional 325,500 shares during the period. Great Lakes Dredge & Dock accounts for approximately 4.4% of Harvey Partners LLC's holdings, making the stock its 4th largest holding. Harvey Partners LLC owned approximately 5.42% of Great Lakes Dredge & Dock worth $38,408,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Great Lakes Dredge & Dock by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 3,413,673 shares of the construction company's stock valued at $29,870,000 after buying an additional 48,760 shares during the last quarter. CWM LLC boosted its position in shares of 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 during the last quarter. ARS Investment Partners LLC boosted its position in shares of Great Lakes Dredge & Dock by 11.0% in the 2nd quarter. ARS Investment Partners LLC now owns 12,150 shares of the construction company's stock worth $107,000 after purchasing an additional 1,200 shares during the last quarter. TCW Group Inc. boosted its position in shares of Great Lakes Dredge & Dock by 2.0% in the 2nd quarter. TCW Group Inc. now owns 1,996,138 shares of the construction company's stock worth $17,526,000 after purchasing an additional 38,200 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Great Lakes Dredge & Dock by 8.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 254,686 shares of the construction company's stock worth $2,236,000 after purchasing an additional 20,781 shares during the last quarter. 89.11% of the stock is owned by institutional investors and hedge funds.

Great Lakes Dredge & Dock Trading Down 0.4 %

Great Lakes Dredge & Dock stock traded down $0.05 during mid-day trading on Tuesday, hitting $12.47. 354,574 shares of the company's stock were exchanged, compared to its average volume of 429,575. The company's 50 day simple moving average is $11.82 and its 200-day simple moving average is $10.09. Great Lakes Dredge & Dock Co. has a fifty-two week low of $6.55 and a fifty-two week high of $12.83. The firm has a market capitalization of $838.86 million, a P/E ratio of 14.39, a PEG 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 quarterly earnings results on Tuesday, November 5th. The construction company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.05). Great Lakes Dredge & Dock had a net margin of 7.97% and a return on equity of 13.35%. The firm had revenue of $191.17 million during the quarter, compared to analyst estimates of $180.80 million. During the same period in the prior year, the business earned ($0.09) EPS. On average, equities analysts anticipate that Great Lakes Dredge & Dock Co. will post 0.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. StockNews.com lowered Great Lakes Dredge & Dock from a "buy" rating to a "hold" rating in a research report on Thursday, August 15th. Noble Financial raised their price objective on Great Lakes Dredge & Dock from $11.00 to $14.00 and gave the stock an "outperform" rating in a research note on Monday, September 23rd.

Insider Buying and Selling at Great Lakes Dredge & Dock

In related news, Director Kathleen M. Shanahan sold 23,238 shares of Great Lakes Dredge & Dock stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $12.63, for a total value of $293,495.94. Following the sale, the director now owns 67,675 shares of the company's stock, valued at approximately $854,735.25. The trade was a 25.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.10% of the company's stock.

Great Lakes Dredge & Dock Company 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.