Wellington Management Group LLP Sells 272,451 Shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Wellington Management Group LLP cut its position in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD - Free Report) by 44.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 333,957 shares of the construction company's stock after selling 272,451 shares during the period. Wellington Management Group LLP owned about 0.50% of Great Lakes Dredge & Dock worth $3,517,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Essex Investment Management Co. LLC raised its stake in Great Lakes Dredge & Dock by 0.3% during the 3rd quarter. Essex Investment Management Co. LLC now owns 347,517 shares of the construction company's stock valued at $3,659,000 after purchasing an additional 915 shares during the period. Victory Capital Management Inc. raised its position in shares of Great Lakes Dredge & Dock by 1.0% during the third quarter. Victory Capital Management Inc. now owns 123,228 shares of the construction company's stock valued at $1,298,000 after buying an additional 1,228 shares during the last quarter. Quarry LP lifted its holdings in shares of Great Lakes Dredge & Dock by 68.5% in the second quarter. Quarry LP now owns 3,097 shares of the construction company's stock worth $27,000 after buying an additional 1,259 shares in the last quarter. nVerses Capital LLC boosted its position in shares of Great Lakes Dredge & Dock by 400.0% during the third quarter. nVerses Capital LLC now owns 3,500 shares of the construction company's stock worth $37,000 after acquiring an additional 2,800 shares during the last quarter. Finally, Creative Planning grew its stake in Great Lakes Dredge & Dock by 8.2% during the second quarter. Creative Planning now owns 38,688 shares of the construction company's stock valued at $340,000 after acquiring an additional 2,919 shares in the last quarter. 89.11% of the stock is currently owned by institutional investors.

Great Lakes Dredge & Dock Price Performance

Great Lakes Dredge & Dock stock traded down $0.45 during midday trading on Wednesday, reaching $11.43. 528,725 shares of the stock traded hands, compared to its average volume of 427,918. The stock has a market cap of $768.92 million, a P/E ratio of 13.14, a PEG ratio of 0.48 and a beta of 1.15. The stock's fifty day moving average is $12.13 and its 200-day moving average is $10.33. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.97. Great Lakes Dredge & Dock Co. has a 12 month low of $6.55 and a 12 month high of $12.89.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last posted its earnings results on Tuesday, November 5th. The construction company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.05). The business had revenue of $191.17 million during the quarter, compared to analysts' expectations of $180.80 million. Great Lakes Dredge & Dock had a net margin of 7.97% and a return on equity of 13.35%. During the same period last year, the business posted ($0.09) earnings per share. As a group, equities research analysts anticipate that Great Lakes Dredge & Dock Co. will post 0.76 EPS for the current year.

Analysts Set New Price Targets

Separately, Noble Financial boosted their price target on shares of Great Lakes Dredge & Dock from $11.00 to $14.00 and gave the stock an "outperform" rating in a research note on Monday, September 23rd.

Insiders Place Their Bets

In other news, Director Kathleen M. Shanahan sold 23,238 shares of Great Lakes Dredge & Dock stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $12.63, for a total value of $293,495.94. Following the completion of the transaction, the director now owns 67,675 shares in the company, valued at approximately $854,735.25. The trade was a 25.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.20% of the company's stock.

Great Lakes Dredge & Dock Company Profile

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.