81,321 Shares in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) Acquired by Prudential Financial Inc.

Prudential Financial Inc. acquired a new position in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 81,321 shares of the construction company's stock, valued at approximately $918,000. Prudential Financial Inc. owned about 0.12% of Great Lakes Dredge & Dock at the end of the most recent reporting period.

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

Insider Transactions at Great Lakes Dredge & Dock

In other news, SVP Christopher Gunsten bought 3,875 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average price of $7.75 per share, with a total value of $30,031.25. Following the completion of the acquisition, the senior vice president now directly owns 61,532 shares in the company, valued at approximately $476,873. This trade represents a 6.72 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.20% of the company's stock.

Great Lakes Dredge & Dock Stock Performance

GLDD stock traded up $0.19 on Friday, reaching $8.88. The company's stock had a trading volume of 361,869 shares, compared to its average volume of 452,093. Great Lakes Dredge & Dock Co. has a 52 week low of $6.55 and a 52 week high of $12.89. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.21 and a quick ratio of 1.01. The company has a market capitalization of $598.17 million, a P/E ratio of 10.57, a price-to-earnings-growth ratio of 1.06 and a beta of 1.17. The firm has a fifty day moving average of $9.01 and a two-hundred day moving average of $10.83.

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

Great Lakes Dredge & Dock declared that its Board of Directors has authorized a stock buyback plan on Friday, March 14th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the construction company to reacquire up to 8.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Great Lakes Dredge & Dock Company 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.