205,670 Shares in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new position in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 205,670 shares of the construction company's stock, valued at approximately $2,322,000. Raymond James Financial Inc. owned about 0.31% of Great Lakes Dredge & Dock at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of GLDD. Harvey Partners LLC raised its stake in Great Lakes Dredge & Dock by 9.8% during the third quarter. Harvey Partners LLC now owns 3,647,500 shares of the construction company's stock valued at $38,408,000 after purchasing an additional 325,500 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Great Lakes Dredge & Dock by 217.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 228,121 shares of the construction company's stock worth $2,402,000 after buying an additional 156,341 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Great Lakes Dredge & Dock by 60.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 287,248 shares of the construction company's stock valued at $3,025,000 after buying an additional 108,227 shares in the last quarter. TCW Group Inc. lifted its holdings in shares of Great Lakes Dredge & Dock by 5.0% in the 3rd quarter. TCW Group Inc. now owns 2,095,834 shares of the construction company's stock valued at $22,069,000 after acquiring an additional 99,696 shares during the last quarter. Finally, American Capital Advisory LLC bought a new stake in Great Lakes Dredge & Dock during the fourth quarter worth approximately $1,034,000. 89.11% of the stock is owned by hedge funds and other institutional investors.

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Great Lakes Dredge & Dock Trading Up 1.7 %

GLDD stock traded up $0.15 during midday trading on Wednesday, reaching $9.06. 215,178 shares of the company traded hands, compared to its average volume of 445,857. The firm has a market capitalization of $610.29 million, a price-to-earnings ratio of 10.79, a P/E/G ratio of 1.06 and a beta of 1.21. Great Lakes Dredge & Dock Co. has a 52-week low of $6.55 and a 52-week high of $12.89. The business has a 50 day moving average of $9.51 and a 200-day moving average of $10.95. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.01 and a current ratio of 1.21.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The construction company reported $0.29 EPS for the quarter, topping the consensus estimate 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 company had revenue of $202.77 million during the quarter, compared to analyst estimates of $211.20 million. As a group, sell-side analysts expect that Great Lakes Dredge & Dock Co. will post 0.69 earnings per share for the current fiscal year.

Great Lakes Dredge & Dock announced that its Board of Directors has initiated a share buyback plan 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 plans are typically a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling

In other Great Lakes Dredge & Dock news, SVP Christopher Gunsten acquired 3,875 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average price of $7.75 per share, for a total transaction of $30,031.25. Following the acquisition, the senior vice president now directly owns 61,532 shares in the company, valued at $476,873. The trade was a 6.72 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.20% of the stock is owned by corporate insiders.

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.