Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) Shares Sold by Oppenheimer & Close LLC

Oppenheimer & Close LLC lowered its holdings in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD - Free Report) by 74.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,287 shares of the construction company's stock after selling 115,358 shares during the period. Oppenheimer & Close LLC owned approximately 0.06% of Great Lakes Dredge & Dock worth $444,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. AlphaQuest LLC acquired a new stake in Great Lakes Dredge & Dock in the 4th quarter valued at $33,000. R Squared Ltd purchased a new stake in shares of Great Lakes Dredge & Dock in the fourth quarter worth about $69,000. Semanteon Capital Management LP acquired a new stake in shares of Great Lakes Dredge & Dock in the fourth quarter valued at about $130,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Great Lakes Dredge & Dock during the 4th quarter valued at about $132,000. Finally, Passumpsic Savings Bank acquired a new position in Great Lakes Dredge & Dock during the 4th quarter worth approximately $135,000. Hedge funds and other institutional investors own 89.11% of the company's stock.

Insider Transactions at Great Lakes Dredge & Dock

In related news, SVP Christopher Gunsten purchased 3,875 shares of the firm's stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average price of $7.75 per share, with a total value of $30,031.25. Following the completion of the transaction, the senior vice president now owns 61,532 shares of the company's stock, valued at $476,873. This represents a 6.72 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.20% of the company's stock.

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Great Lakes Dredge & Dock Stock Up 0.2 %

NASDAQ:GLDD traded up $0.02 during trading hours on Thursday, hitting $8.99. The stock had a trading volume of 236,916 shares, compared to its average volume of 430,411. The business has a 50 day simple moving average of $9.77 and a two-hundred day simple moving average of $10.96. Great Lakes Dredge & Dock Co. has a 1-year low of $6.55 and a 1-year high of $12.89. The company has a current ratio of 1.21, a quick ratio of 1.01 and a debt-to-equity ratio of 0.97. The company has a market cap of $604.87 million, a PE ratio of 10.70, a price-to-earnings-growth ratio of 1.06 and a beta of 1.21.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.29 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.06. Great Lakes Dredge & Dock had a net margin of 7.51% and a return on equity of 13.72%. The business had revenue of $202.77 million during the quarter, compared to analyst estimates of $211.20 million. Analysts predict that Great Lakes Dredge & Dock Co. will post 0.69 EPS for the current year.

Great Lakes Dredge & Dock declared that its Board of Directors has authorized a stock buyback program on Friday, March 14th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the construction company to purchase up to 8.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Great Lakes Dredge & Dock Profile

Great Lakes Dredge & Dock Corp. engages in the provision of dredging services. Its projects include channel and port maintenance, channel deepening and port expansion, coastal protection and restoration, as well as land reclamation. The company was founded by William A. Lydon and Frederick C. Drews in 1890 and is headquartered in Houston, TX.