ClariVest Asset Management LLC Buys 67,938 Shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

ClariVest Asset Management LLC lifted its stake in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD - Free Report) by 69.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 166,104 shares of the construction company's stock after buying an additional 67,938 shares during the period. ClariVest Asset Management LLC owned approximately 0.25% of Great Lakes Dredge & Dock worth $1,458,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Innealta Capital LLC purchased a new position in Great Lakes Dredge & Dock in the 2nd quarter worth approximately $30,000. CWM LLC increased its stake in shares of Great Lakes Dredge & Dock by 520.5% in the second quarter. CWM LLC now owns 5,051 shares of the construction company's stock worth $44,000 after buying an additional 4,237 shares during the period. ARS Investment Partners LLC raised its holdings in Great Lakes Dredge & Dock by 11.0% during the 2nd quarter. ARS Investment Partners LLC now owns 12,150 shares of the construction company's stock valued at $107,000 after buying an additional 1,200 shares during the last quarter. Quadrature Capital Ltd bought a new stake in Great Lakes Dredge & Dock during the 4th quarter valued at $113,000. Finally, Bayesian Capital Management LP purchased a new stake in Great Lakes Dredge & Dock during the 1st quarter valued at $137,000. Institutional investors own 89.11% of the company's stock.

Insider Buying and Selling

In other Great Lakes Dredge & Dock news, CEO Lasse Petterson sold 28,709 shares of the firm's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $9.24, for a total transaction of $265,271.16. Following the completion of the transaction, the chief executive officer now owns 902,392 shares of the company's stock, valued at $8,338,102.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 128,990 shares of company stock valued at $1,174,747 over the last three months. Corporate insiders own 2.20% of the company's stock.

Wall Street Analyst Weigh In

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 Trading Up 1.4 %

Shares of GLDD stock traded up $0.13 during trading hours on Thursday, reaching $9.57. The company's stock had a trading volume of 688,324 shares, compared to its average volume of 426,615. The company has a current ratio of 1.32, a quick ratio of 1.13 and a debt-to-equity ratio of 0.98. Great Lakes Dredge & Dock Co. has a one year low of $6.11 and a one year high of $10.55. The stock has a market capitalization of $641.28 million, a P/E ratio of 16.56, a P/E/G ratio of 0.32 and a beta of 1.15. The firm's fifty day simple moving average is $9.09 and its 200 day simple moving average is $8.75.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.08. Great Lakes Dredge & Dock had a net margin of 6.61% and a return on equity of 10.05%. The business had revenue of $170.09 million for the quarter, compared to analysts' expectations of $165.00 million. During the same quarter in the previous year, the business posted $0.03 earnings per share. Equities research analysts expect that Great Lakes Dredge & Dock Co. will post 0.8 EPS for the current year.

Great Lakes Dredge & Dock 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.