Algert Global LLC Has $2.70 Million Stock Holdings in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Algert Global LLC grew its holdings in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 2.7% in the third quarter, Holdings Channel reports. The institutional investor owned 256,314 shares of the construction company’s stock after acquiring an additional 6,661 shares during the period. Algert Global LLC’s holdings in Great Lakes Dredge & Dock were worth $2,699,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Intech Investment Management LLC bought a new position in Great Lakes Dredge & Dock in the 3rd quarter valued at about $157,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Great Lakes Dredge & Dock in the third quarter worth approximately $6,744,000. Jennison Associates LLC lifted its holdings in shares of Great Lakes Dredge & Dock by 1.9% in the third quarter. Jennison Associates LLC now owns 4,333,438 shares of the construction company’s stock valued at $45,631,000 after purchasing an additional 79,087 shares in the last quarter. Thompson Davis & CO. Inc. purchased a new position in shares of Great Lakes Dredge & Dock during the third quarter valued at approximately $740,000. Finally, Minerva Advisors LLC grew its holdings in Great Lakes Dredge & Dock by 1.5% during the third quarter. Minerva Advisors LLC now owns 1,341,807 shares of the construction company’s stock worth $14,116,000 after buying an additional 19,470 shares in the last quarter. 89.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Great Lakes Dredge & Dock

In other news, Director Kathleen M. Shanahan sold 23,238 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $12.63, for a total transaction of $293,495.94. Following the transaction, the director now owns 67,675 shares of the company’s stock, valued at $854,735.25. This represents a 25.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

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

Great Lakes Dredge & Dock Stock Up 0.4 %

GLDD stock opened at $12.53 on Wednesday. The stock has a market cap of $842.58 million, a P/E ratio of 14.40, a P/E/G ratio of 0.46 and a beta of 1.13. The company has a current ratio of 1.21, a quick ratio of 1.01 and a debt-to-equity ratio of 0.97. The stock’s fifty day simple moving average is $11.64 and its two-hundred day simple moving average is $10.00. Great Lakes Dredge & Dock Co. has a 1-year low of $6.55 and a 1-year high of $12.83.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last issued its quarterly 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). 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 last year, the firm posted ($0.09) earnings per share. Analysts expect that Great Lakes Dredge & Dock Co. will post 0.76 EPS for the current year.

About Great Lakes Dredge & Dock

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.