Jennison Associates LLC Has $45.63 Million Holdings in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Jennison Associates LLC boosted its position in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD - Free Report) by 1.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,333,438 shares of the construction company's stock after buying an additional 79,087 shares during the quarter. Jennison Associates LLC owned approximately 6.44% of Great Lakes Dredge & Dock worth $45,631,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Algert Global LLC bought a new stake in shares of Great Lakes Dredge & Dock in the second quarter valued at approximately $2,192,000. Sanctuary Advisors LLC bought a new position in Great Lakes Dredge & Dock during the second quarter valued at about $2,057,000. Marshall Wace LLP acquired a new position in Great Lakes Dredge & Dock in the 2nd quarter valued at approximately $1,823,000. Bfsg LLC lifted its position in shares of Great Lakes Dredge & Dock by 1,465.4% in the 3rd quarter. Bfsg LLC now owns 185,035 shares of the construction company's stock worth $1,948,000 after acquiring an additional 173,215 shares during the period. Finally, AQR Capital Management LLC grew its holdings in shares of Great Lakes Dredge & Dock by 379.3% during the 2nd quarter. AQR Capital Management LLC now owns 208,218 shares of the construction company's stock worth $1,828,000 after purchasing an additional 164,780 shares in the last quarter. Institutional investors own 89.11% of the company's stock.

Wall Street Analyst Weigh In

GLDD has been the topic of several analyst reports. Noble Financial boosted their price target on shares of Great Lakes Dredge & Dock from $11.00 to $14.00 and gave the company an "outperform" rating in a report on Monday, September 23rd. StockNews.com cut shares of Great Lakes Dredge & Dock from a "buy" rating to a "hold" rating in a research note on Thursday, August 15th.

Great Lakes Dredge & Dock Price Performance

Shares of NASDAQ:GLDD traded up $0.03 on Friday, hitting $12.35. The stock had a trading volume of 230,485 shares, compared to its average volume of 428,100. The company has a market capitalization of $830.78 million, a price-to-earnings ratio of 14.16, a price-to-earnings-growth ratio of 0.46 and a beta of 1.13. 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 firm's 50 day moving average price is $11.48 and its 200-day moving average price is $9.90. Great Lakes Dredge & Dock Co. has a twelve month low of $6.55 and a twelve month high of $12.83.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The construction company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.05). The firm had revenue of $191.17 million for the quarter, compared to the consensus estimate 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 period in the prior year, the company posted ($0.09) earnings per share. On average, equities research analysts predict that Great Lakes Dredge & Dock Co. will post 0.76 earnings per share for the current year.

Insider Buying and Selling at Great Lakes Dredge & Dock

In other Great Lakes Dredge & Dock news, Director Kathleen M. Shanahan sold 23,238 shares of the business's stock in a transaction dated 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 transaction, the director now directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Lasse Petterson sold 28,709 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $9.24, for a total transaction of $265,271.16. Following the sale, the chief executive officer now directly owns 902,392 shares in the company, valued at $8,338,102.08. This trade represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.20% 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.