Sequoia Financial Advisors LLC Acquires Shares of 102,489 Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Sequoia Financial Advisors LLC purchased a new stake in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 102,489 shares of the construction company's stock, valued at approximately $1,079,000. Sequoia Financial Advisors LLC owned approximately 0.15% of Great Lakes Dredge & Dock as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC raised its holdings in Great Lakes Dredge & Dock by 1.4% in the 1st quarter. Jennison Associates LLC now owns 4,359,725 shares of the construction company's stock valued at $38,148,000 after acquiring an additional 60,307 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Great Lakes Dredge & Dock by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 3,413,673 shares of the construction company's stock valued at $29,870,000 after purchasing an additional 48,760 shares during the period. TCW Group Inc. grew its stake in shares of Great Lakes Dredge & Dock by 2.0% in the 2nd quarter. TCW Group Inc. now owns 1,996,138 shares of the construction company's stock valued at $17,526,000 after purchasing an additional 38,200 shares during the period. Private Management Group Inc. grew its stake in shares of Great Lakes Dredge & Dock by 2.9% in the 2nd quarter. Private Management Group Inc. now owns 1,253,165 shares of the construction company's stock valued at $11,003,000 after purchasing an additional 35,077 shares during the period. Finally, Wellington Management Group LLP grew its stake in shares of Great Lakes Dredge & Dock by 2.6% in the 4th quarter. Wellington Management Group LLP now owns 451,626 shares of the construction company's stock valued at $3,468,000 after purchasing an additional 11,640 shares during the period. Institutional investors and hedge funds own 89.11% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on GLDD shares. Noble Financial upped their price objective on Great Lakes Dredge & Dock from $11.00 to $14.00 and gave the company an "outperform" rating in a research note on Monday, September 23rd. StockNews.com lowered Great Lakes Dredge & Dock from a "buy" rating to a "hold" rating in a research note on Thursday, August 15th.

Great Lakes Dredge & Dock Price Performance

NASDAQ GLDD traded down $0.03 during trading hours on Friday, reaching $11.71. 244,914 shares of the company's stock were exchanged, compared to its average volume of 424,899. The stock has a market cap of $784.68 million, a PE ratio of 20.54, a price-to-earnings-growth ratio of 0.41 and a beta of 1.15. Great Lakes Dredge & Dock Co. has a one year low of $6.11 and a one year high of $12.31. The firm has a fifty day moving average of $10.49 and a 200-day moving average of $9.30. 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 (NASDAQ:GLDD - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.11 EPS for the quarter, topping analysts' consensus estimates 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 10.05% and a net margin of 6.61%. During the same period in the prior year, the company earned $0.03 EPS. On average, equities research analysts predict that Great Lakes Dredge & Dock Co. will post 0.8 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Great Lakes Dredge & Dock news, CEO Lasse Petterson sold 46,510 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $9.08, for a total value of $422,310.80. Following the transaction, the chief executive officer now directly owns 931,101 shares in the company, valued at approximately $8,454,397.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 128,990 shares of company stock worth $1,174,747 in the last three months. Insiders own 2.20% of the company's stock.

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.