Great Lakes Dredge & Dock (NASDAQ:GLDD) Sees Strong Trading Volume

Great Lakes Dredge & Dock Co. (NASDAQ:GLDD - Get Free Report) shares saw strong trading volume on Thursday . 839,915 shares traded hands during trading, an increase of 100% from the previous session's volume of 418,973 shares.The stock last traded at $10.21 and had previously closed at $9.95.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut 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 Down 1.4 %

The stock has a market cap of $657.36 million, a P/E ratio of 17.21, a PEG ratio of 0.36 and a beta of 1.14. The business's 50 day simple moving average is $8.97 and its 200 day simple moving average is $8.71. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.25 and a quick ratio of 1.06.

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

Insider Transactions at Great Lakes Dredge & Dock

In other news, CEO Lasse Petterson sold 28,709 shares of Great Lakes Dredge & Dock 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 owns 902,392 shares in the company, valued at $8,338,102.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders have sold 128,990 shares of company stock valued at $1,174,747. 2.20% of the stock is owned by insiders.

Institutional Trading of Great Lakes Dredge & Dock

Hedge funds and other institutional investors have recently made changes to their positions in the business. Algert Global LLC bought a new stake in Great Lakes Dredge & Dock during the 2nd quarter worth about $2,192,000. Marshall Wace LLP bought a new stake in shares of Great Lakes Dredge & Dock during the second quarter valued at approximately $1,823,000. GSA Capital Partners LLP acquired a new stake in shares of Great Lakes Dredge & Dock in the first quarter valued at approximately $1,701,000. Dimensional Fund Advisors LP raised its position in Great Lakes Dredge & Dock by 4.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,356,468 shares of the construction company's stock worth $33,458,000 after purchasing an additional 192,053 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Great Lakes Dredge & Dock by 379.3% during the 2nd quarter. AQR Capital Management LLC now owns 208,218 shares of the construction company's stock worth $1,828,000 after buying an additional 164,780 shares in the last quarter. 89.11% of the stock is currently owned by institutional investors and hedge funds.

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.