Great Lakes Dredge & Dock Corporation $GLDD Shares Bought by Squarepoint Ops LLC

Squarepoint Ops LLC lifted its stake in shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) by 109.2% during the second quarter, Holdings Channel reports. The fund owned 210,029 shares of the construction company’s stock after purchasing an additional 109,625 shares during the quarter. Squarepoint Ops LLC’s holdings in Great Lakes Dredge & Dock were worth $2,560,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Great Lakes Dredge & Dock by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 3,907,174 shares of the construction company’s stock valued at $33,992,000 after purchasing an additional 29,586 shares in the last quarter. Nuveen LLC acquired a new position in shares of Great Lakes Dredge & Dock in the first quarter valued at approximately $3,960,000. American Century Companies Inc. lifted its stake in shares of Great Lakes Dredge & Dock by 22.0% during the first quarter. American Century Companies Inc. now owns 1,970,775 shares of the construction company’s stock valued at $17,146,000 after buying an additional 355,184 shares during the period. Quantbot Technologies LP boosted its position in Great Lakes Dredge & Dock by 57.9% during the first quarter. Quantbot Technologies LP now owns 30,676 shares of the construction company’s stock worth $267,000 after acquiring an additional 11,247 shares during the last quarter. Finally, Hsbc Holdings PLC grew its stake in Great Lakes Dredge & Dock by 3.2% in the 1st quarter. Hsbc Holdings PLC now owns 41,256 shares of the construction company’s stock worth $360,000 after acquiring an additional 1,272 shares during the period. Hedge funds and other institutional investors own 89.11% of the company’s stock.

Great Lakes Dredge & Dock Stock Down 3.5%

Shares of GLDD opened at $13.28 on Thursday. The firm has a market cap of $903.04 million, a PE ratio of 11.25, a price-to-earnings-growth ratio of 1.05 and a beta of 1.43. The company’s fifty day moving average is $12.20 and its two-hundred day moving average is $11.84. Great Lakes Dredge & Dock Corporation has a fifty-two week low of $7.51 and a fifty-two week high of $14.02. The company has a quick ratio of 1.06, a current ratio of 1.20 and a debt-to-equity ratio of 0.83.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last released its quarterly earnings data on Tuesday, November 4th. The construction company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.09. The business had revenue of $195.21 million during the quarter, compared to the consensus estimate of $201.30 million. Great Lakes Dredge & Dock had a return on equity of 16.84% and a net margin of 9.65%. Analysts forecast that Great Lakes Dredge & Dock Corporation will post 0.69 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP David Johanson sold 2,100 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $13.96, for a total value of $29,316.00. Following the transaction, the senior vice president directly owned 91,963 shares in the company, valued at $1,283,803.48. This trade represents a 2.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. CJS Securities raised Great Lakes Dredge & Dock to a “strong-buy” rating in a research note on Thursday, December 11th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Great Lakes Dredge & Dock in a research report on Wednesday, October 8th. Finally, Zacks Research upgraded Great Lakes Dredge & Dock from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 10th. Two research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy”.

Great Lakes Dredge & Dock 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.