Creative Planning Boosts Position in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Creative Planning raised its holdings in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 8.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,688 shares of the construction company’s stock after acquiring an additional 2,919 shares during the period. Creative Planning owned approximately 0.06% of Great Lakes Dredge & Dock worth $340,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new stake in shares of Great Lakes Dredge & Dock during the 2nd quarter worth approximately $30,000. CWM LLC raised its holdings in Great Lakes Dredge & Dock by 520.5% in the 2nd quarter. CWM LLC now owns 5,051 shares of the construction company’s stock worth $44,000 after purchasing an additional 4,237 shares during the period. ARS Investment Partners LLC boosted its position in Great Lakes Dredge & Dock by 11.0% during the second quarter. ARS Investment Partners LLC now owns 12,150 shares of the construction company’s stock worth $107,000 after purchasing an additional 1,200 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Great Lakes Dredge & Dock in the fourth quarter valued at approximately $113,000. Finally, Bayesian Capital Management LP acquired a new position in shares of Great Lakes Dredge & Dock during the 1st quarter worth approximately $137,000. 89.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GLDD has been the subject of several recent analyst reports. StockNews.com lowered shares of Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a report on Thursday, August 15th. Noble Financial boosted their target price 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.

Great Lakes Dredge & Dock Trading Up 0.3 %

Shares of GLDD opened at $12.01 on Friday. The firm’s fifty day moving average is $10.12 and its two-hundred day moving average is $9.15. The stock has a market cap of $804.78 million, a PE ratio of 21.07, a price-to-earnings-growth ratio of 0.41 and a beta of 1.15. The company has a quick ratio of 1.13, a current ratio of 1.32 and a debt-to-equity ratio of 0.98. Great Lakes Dredge & Dock Co. has a 52-week low of $6.11 and a 52-week high of $12.09.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last posted its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.08. The firm had revenue of $170.09 million for the quarter, compared to analyst estimates of $165.00 million. Great Lakes Dredge & Dock had a net margin of 6.61% and a return on equity of 10.05%. During the same period in the previous year, the business posted $0.03 earnings per share. Research analysts forecast that Great Lakes Dredge & Dock Co. will post 0.8 earnings per share for the current fiscal year.

Insider Activity

In other Great Lakes Dredge & Dock news, CEO Lasse Petterson sold 46,510 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $9.08, for a total transaction of $422,310.80. Following the transaction, the chief executive officer now owns 931,101 shares of the company’s stock, valued at approximately $8,454,397.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold 128,990 shares of company stock worth $1,174,747 over the last ninety days. Corporate insiders own 2.20% of the company’s stock.

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.