Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its stake in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD - Free Report) by 259.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 820,397 shares of the construction company's stock after acquiring an additional 592,276 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.22% of Great Lakes Dredge & Dock worth $9,262,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GLDD. AlphaQuest LLC bought a new position in Great Lakes Dredge & Dock during the fourth quarter valued at approximately $33,000. R Squared Ltd bought a new position in Great Lakes Dredge & Dock during the 4th quarter valued at about $69,000. Semanteon Capital Management LP purchased a new position in Great Lakes Dredge & Dock during the 4th quarter valued at $130,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Great Lakes Dredge & Dock during the fourth quarter valued at $132,000. Finally, Passumpsic Savings Bank bought a new position in shares of Great Lakes Dredge & Dock in the fourth quarter worth about $135,000. Institutional investors own 89.11% of the company's stock.

Insider Activity at Great Lakes Dredge & Dock

In related 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 cost of $7.75 per share, for a total transaction of $30,031.25. Following the purchase, the senior vice president now directly owns 61,532 shares of the company's stock, valued at $476,873. This trade represents a 6.72 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 2.00% of the stock is currently owned by corporate insiders.

Great Lakes Dredge & Dock Trading Up 1.0 %

GLDD traded up $0.09 on Friday, reaching $8.81. 347,763 shares of the company traded hands, compared to its average volume of 456,302. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.97. The company has a market cap of $593.45 million, a P/E ratio of 10.49, a price-to-earnings-growth ratio of 1.06 and a beta of 1.17. The firm has a fifty day simple moving average of $8.75 and a two-hundred day simple moving average of $10.77. 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 announced its quarterly earnings data on Tuesday, February 18th. The construction company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $211.20 million. As a group, equities research analysts expect that Great Lakes Dredge & Dock Co. will post 0.69 earnings per share for the current year.

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

Great Lakes Dredge & Dock Profile

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.