Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) CEO Lasse Petterson Sells 28,709 Shares

Great Lakes Dredge & Dock Co. (NASDAQ:GLDD - Get Free Report) CEO Lasse Petterson sold 28,709 shares of the business's stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $9.24, for a total value of $265,271.16. Following the completion of the transaction, the chief executive officer now directly owns 902,392 shares in the company, valued at approximately $8,338,102.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Lasse Petterson also recently made the following trade(s):

• On Friday, August 23rd, Lasse Petterson sold 46,510 shares of Great Lakes Dredge & Dock stock. The stock was sold at an average price of $9.08, for a total value of $422,310.80.
• On Monday, August 19th, Lasse Petterson sold 53,771 shares of Great Lakes Dredge & Dock stock. The shares were sold at an average price of $9.06, for a total value of $487,165.26.

Great Lakes Dredge & Dock Trading Up 8.5 %

Shares of GLDD stock traded up $0.77 during trading hours on Monday, hitting $9.84. 1,097,341 shares of the company were exchanged, compared to its average volume of 406,521. The firm has a fifty day moving average of $8.90 and a 200 day moving average of $8.68. The company has a quick ratio of 1.06, a current ratio of 1.25 and a debt-to-equity ratio of 0.93. Great Lakes Dredge & Dock Co. has a 1 year low of $6.11 and a 1 year high of $9.93. The firm has a market cap of $659.37 million, a PE ratio of 17.26, a PEG ratio of 0.36 and a beta of 1.14.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last issued its earnings results on Tuesday, August 6th. The construction company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.08. The business had revenue of $170.09 million for the quarter, compared to analyst estimates of $165.00 million. Great Lakes Dredge & Dock had a return on equity of 8.83% and a net margin of 6.05%. During the same period last year, the company posted $0.03 EPS. Analysts expect that Great Lakes Dredge & Dock Co. will post 0.72 earnings per share for the current year.

Hedge Funds Weigh In On Great Lakes Dredge & Dock

Hedge funds have recently added to or reduced their stakes in the business. Quarry LP raised its position in shares of Great Lakes Dredge & Dock by 68.5% during the 2nd quarter. Quarry LP now owns 3,097 shares of the construction company's stock worth $27,000 after purchasing an additional 1,259 shares during the period. Innealta Capital LLC acquired a new stake in Great Lakes Dredge & Dock in the second quarter worth $30,000. CWM LLC lifted its stake in Great Lakes Dredge & Dock by 520.5% in the second quarter. CWM LLC now owns 5,051 shares of the construction company's stock valued at $44,000 after buying an additional 4,237 shares during the last quarter. ARS Investment Partners LLC boosted its holdings 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 acquiring an additional 1,200 shares during the period. Finally, Quadrature Capital Ltd bought a new position in shares of Great Lakes Dredge & Dock during the fourth quarter worth about $113,000. Institutional investors and hedge funds own 89.11% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded 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 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.

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