Wellington Management Group LLP Has $3.13 Million Stock Holdings in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Wellington Management Group LLP reduced its position in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD - Free Report) by 17.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 277,253 shares of the construction company's stock after selling 56,704 shares during the period. Wellington Management Group LLP owned approximately 0.41% of Great Lakes Dredge & Dock worth $3,130,000 at the end of the most recent reporting period.

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

Great Lakes Dredge & Dock Price Performance

NASDAQ:GLDD traded up $0.07 on Thursday, hitting $8.79. The company had a trading volume of 86,891 shares, compared to its average volume of 454,429. The firm has a 50 day moving average of $8.86 and a two-hundred day moving average of $10.79. The stock has a market capitalization of $591.90 million, a price-to-earnings ratio of 10.47, a PEG ratio of 1.06 and a beta of 1.17. 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 current ratio of 1.21, a quick ratio of 1.01 and a debt-to-equity ratio of 0.97.

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

Great Lakes Dredge & Dock declared that its Board of Directors has approved a share repurchase program on Friday, March 14th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire up to 8.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Insider Activity

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 acquired 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. This represents a 6.72 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.00% of the company's stock.

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.