Kennedy Capital Management LLC Decreases Stake in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Kennedy Capital Management LLC trimmed its position in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD - Free Report) by 9.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 503,144 shares of the construction company's stock after selling 54,975 shares during the period. Kennedy Capital Management LLC owned 0.75% of Great Lakes Dredge & Dock worth $5,680,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Great Lakes Dredge & Dock by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 3,877,588 shares of the construction company's stock valued at $43,778,000 after buying an additional 27,610 shares during the last quarter. American Century Companies Inc. raised its holdings in Great Lakes Dredge & Dock by 40.7% in the fourth quarter. American Century Companies Inc. now owns 1,615,591 shares of the construction company's stock worth $18,240,000 after purchasing an additional 467,164 shares in the last quarter. Geode Capital Management LLC boosted its stake in Great Lakes Dredge & Dock by 1.4% during the third quarter. Geode Capital Management LLC now owns 1,561,897 shares of the construction company's stock worth $16,450,000 after acquiring an additional 22,166 shares in the last quarter. State Street Corp grew its stake in shares of Great Lakes Dredge & Dock by 0.9% in the 3rd quarter. State Street Corp now owns 1,540,516 shares of the construction company's stock worth $16,222,000 after buying an additional 13,010 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Great Lakes Dredge & Dock by 259.6% in the 4th quarter. JPMorgan Chase & Co. now owns 820,397 shares of the construction company's stock worth $9,262,000 after purchasing an additional 592,276 shares during the last quarter. 89.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Christopher Gunsten purchased 3,875 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average cost of $7.75 per share, with a total value of $30,031.25. Following the purchase, the senior vice president now owns 61,532 shares in the company, valued at approximately $476,873. This trade represents a 6.72 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.00% of the company's stock.

Great Lakes Dredge & Dock Stock Up 1.9 %

Shares of Great Lakes Dredge & Dock stock traded up $0.17 on Thursday, reaching $8.89. The company's stock had a trading volume of 155,726 shares, compared to its average volume of 454,710. The firm's fifty day simple moving average is $8.86 and its two-hundred day simple moving average is $10.79. Great Lakes Dredge & Dock Co. has a 52 week low of $6.55 and a 52 week high of $12.89. The company has a market capitalization of $598.84 million, a price-to-earnings ratio of 10.56, a P/E/G ratio of 1.06 and a beta of 1.17. 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 issued its quarterly earnings data on Tuesday, February 18th. The construction company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.06. Great Lakes Dredge & Dock had a net margin of 7.51% and a return on equity of 13.72%. The firm had revenue of $202.77 million for the quarter, compared to analysts' expectations of $211.20 million. Equities analysts anticipate that Great Lakes Dredge & Dock Co. will post 0.69 earnings per share for the current year.

Great Lakes Dredge & Dock announced that its Board of Directors has authorized a share buyback program on Friday, March 14th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire up to 8.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

Great Lakes Dredge & Dock Company 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.