Bfsg LLC Raises Stock Holdings in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Bfsg LLC lifted its stake in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD - Free Report) by 1,465.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 185,035 shares of the construction company's stock after buying an additional 173,215 shares during the quarter. Bfsg LLC owned about 0.28% of Great Lakes Dredge & Dock worth $1,948,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in GLDD. Algert Global LLC bought a new stake in Great Lakes Dredge & Dock during the 2nd quarter valued at $2,192,000. Sanctuary Advisors LLC bought a new stake in shares of Great Lakes Dredge & Dock in the 2nd quarter worth approximately $2,057,000. Marshall Wace LLP purchased a new stake in Great Lakes Dredge & Dock during the 2nd quarter valued at about $1,823,000. GSA Capital Partners LLP bought a new position in shares of Great Lakes Dredge & Dock in the first quarter worth approximately $1,701,000. Finally, AQR Capital Management LLC grew its holdings in Great Lakes Dredge & Dock by 379.3% in the 2nd quarter. AQR Capital Management LLC now owns 208,218 shares of the construction company's stock worth $1,828,000 after acquiring an additional 164,780 shares during the last quarter. 89.11% of the stock is owned by institutional investors and hedge funds.

Great Lakes Dredge & Dock Price Performance

Shares of NASDAQ:GLDD traded up $0.10 during midday trading on Friday, reaching $12.11. 318,725 shares of the company were exchanged, compared to its average volume of 427,177. The company has a current ratio of 1.32, a quick ratio of 1.13 and a debt-to-equity ratio of 0.98. The stock has a market cap of $811.14 million, a PE ratio of 21.24, a price-to-earnings-growth ratio of 0.41 and a beta of 1.15. The business's fifty day moving average is $10.19 and its two-hundred day moving average is $9.17. Great Lakes Dredge & Dock Co. has a one year low of $6.11 and a one year high of $12.19.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The construction company reported $0.11 earnings per share for the quarter, beating analysts' consensus estimates of $0.03 by $0.08. The firm had revenue of $170.09 million during the quarter, compared to analyst estimates of $165.00 million. Great Lakes Dredge & Dock had a return on equity of 10.05% and a net margin of 6.61%. During the same quarter last year, the business posted $0.03 earnings per share. As a group, analysts predict that Great Lakes Dredge & Dock Co. will post 0.8 earnings per share for the current year.

Insider Activity at Great Lakes Dredge & Dock

In related news, CEO Lasse Petterson sold 46,510 shares of Great Lakes Dredge & Dock stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $9.08, for a total transaction of $422,310.80. Following the completion of the sale, the chief executive officer now owns 931,101 shares in the company, valued at $8,454,397.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold a total of 128,990 shares of company stock valued at $1,174,747 over the last 90 days. 2.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Noble Financial increased their price target on shares of Great Lakes Dredge & Dock from $11.00 to $14.00 and gave the stock an "outperform" rating in a research note on Monday, September 23rd. StockNews.com lowered shares of Great Lakes Dredge & Dock from a "buy" rating to a "hold" rating in a report on Thursday, August 15th.

About Great Lakes Dredge & Dock

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.