Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) Shares Sold by Prospera Financial Services Inc

Prospera Financial Services Inc reduced its holdings in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 18.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,500 shares of the construction company’s stock after selling 3,500 shares during the quarter. Prospera Financial Services Inc’s holdings in Great Lakes Dredge & Dock were worth $163,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Essex Investment Management Co. LLC increased its stake in Great Lakes Dredge & Dock by 0.3% in the third 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 last quarter. ARS Investment Partners LLC increased its stake in Great Lakes Dredge & Dock by 11.0% in the second quarter. ARS Investment Partners LLC now owns 12,150 shares of the construction company’s stock valued at $107,000 after purchasing an additional 1,200 shares during the last quarter. Victory Capital Management Inc. grew its position in 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 acquiring an additional 1,228 shares during the period. Quarry LP grew its position in Great Lakes Dredge & Dock by 68.5% during the second quarter. Quarry LP now owns 3,097 shares of the construction company’s stock valued at $27,000 after acquiring an additional 1,259 shares during the period. Finally, nVerses Capital LLC grew its position in 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 valued at $37,000 after acquiring an additional 2,800 shares during the period. 89.11% of the stock is currently owned by institutional investors and hedge funds.

Great Lakes Dredge & Dock Price Performance

Shares of NASDAQ GLDD opened at $12.48 on Tuesday. Great Lakes Dredge & Dock Co. has a 1-year low of $6.55 and a 1-year high of $12.83. The business has a 50-day moving average of $11.53 and a 200-day moving average of $9.95. 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 $839.55 million, a price-to-earnings ratio of 14.25, a PEG ratio of 0.46 and a beta of 1.13.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last issued its earnings results on Tuesday, November 5th. The construction company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.05). Great Lakes Dredge & Dock had a return on equity of 13.35% and a net margin of 7.97%. The company had revenue of $191.17 million during the quarter, compared to analysts’ expectations of $180.80 million. During the same period in the previous year, the company earned ($0.09) EPS. On average, equities analysts anticipate that Great Lakes Dredge & Dock Co. will post 0.76 EPS for the current fiscal year.

Insider Transactions at Great Lakes Dredge & Dock

In related news, Director Kathleen M. Shanahan sold 23,238 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $12.63, for a total value of $293,495.94. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on GLDD. StockNews.com downgraded Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research report on Thursday, August 15th. Noble Financial boosted their price target on Great Lakes Dredge & Dock from $11.00 to $14.00 and gave the company an “outperform” rating in a research report on Monday, September 23rd.

Great Lakes Dredge & Dock 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.