Wittenberg Investment Management Inc. Trims Stock Holdings in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Wittenberg Investment Management Inc. decreased its holdings in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD - Free Report) by 32.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 181,300 shares of the construction company's stock after selling 88,724 shares during the period. Great Lakes Dredge & Dock accounts for about 0.8% of Wittenberg Investment Management Inc.'s holdings, making the stock its 20th largest holding. Wittenberg Investment Management Inc. owned about 0.27% of Great Lakes Dredge & Dock worth $2,047,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. AlphaQuest LLC purchased a new stake in Great Lakes Dredge & Dock in the fourth quarter worth about $33,000. R Squared Ltd purchased a new position in shares of Great Lakes Dredge & Dock in the 4th quarter valued at approximately $69,000. Semanteon Capital Management LP bought a new stake in shares of Great Lakes Dredge & Dock during the fourth quarter valued at approximately $130,000. KLP Kapitalforvaltning AS purchased a new stake in Great Lakes Dredge & Dock in the fourth quarter worth $132,000. Finally, Passumpsic Savings Bank bought a new position in Great Lakes Dredge & Dock in the fourth quarter worth $135,000. 89.11% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, SVP Christopher Gunsten acquired 3,875 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average cost of $7.75 per share, with a total value of $30,031.25. Following the transaction, the senior vice president now owns 61,532 shares of the company's stock, valued at $476,873. This trade represents a 6.72 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.20% of the stock is currently owned by company insiders.

Great Lakes Dredge & Dock Stock Up 1.8 %

Great Lakes Dredge & Dock stock traded up $0.15 on Wednesday, hitting $8.19. 113,134 shares of the stock traded hands, compared to its average volume of 449,371. The business's fifty day simple moving average is $9.19 and its 200 day simple moving average is $10.88. The firm has a market cap of $551.35 million, a P/E ratio of 9.71, a price-to-earnings-growth ratio of 1.06 and a beta of 1.17. 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 Co. has a 1 year low of $6.55 and a 1 year high of $12.89.

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 business had revenue of $202.77 million for the quarter, compared to analyst estimates of $211.20 million. As a group, sell-side analysts forecast that Great Lakes Dredge & Dock Co. will post 0.69 earnings per share for the current year.

Great Lakes Dredge & Dock announced that its board has approved a stock repurchase plan on Friday, March 14th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the construction company to purchase up to 8.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors 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.