Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) Stock Holdings Reduced by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its position in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 21.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 97,000 shares of the construction company’s stock after selling 26,228 shares during the quarter. Victory Capital Management Inc.’s holdings in Great Lakes Dredge & Dock were worth $1,095,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GLDD. Jennison Associates LLC boosted its stake in shares of Great Lakes Dredge & Dock by 1.9% during the 3rd quarter. Jennison Associates LLC now owns 4,333,438 shares of the construction company’s stock worth $45,631,000 after acquiring an additional 79,087 shares in the last quarter. Harvey Partners LLC boosted its stake in Great Lakes Dredge & Dock by 9.8% during the 3rd quarter. Harvey Partners LLC now owns 3,647,500 shares of the construction company’s stock valued at $38,408,000 after purchasing an additional 325,500 shares during the period. TCW Group Inc. boosted its stake in Great Lakes Dredge & Dock by 5.0% during the 3rd quarter. TCW Group Inc. now owns 2,095,834 shares of the construction company’s stock valued at $22,069,000 after purchasing an additional 99,696 shares during the period. Geode Capital Management LLC raised its holdings in Great Lakes Dredge & Dock by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,561,897 shares of the construction company’s stock valued at $16,450,000 after acquiring an additional 22,166 shares in the last quarter. Finally, State Street Corp raised its holdings in Great Lakes Dredge & Dock by 0.9% in the 3rd quarter. State Street Corp now owns 1,540,516 shares of the construction company’s stock valued at $16,222,000 after acquiring an additional 13,010 shares in the last quarter. Hedge funds and other institutional investors own 89.11% of the company’s stock.

Great Lakes Dredge & Dock Trading Up 3.7 %

Great Lakes Dredge & Dock stock opened at $9.24 on Thursday. The business has a 50 day moving average price of $10.06 and a two-hundred day moving average price of $10.98. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.97. The stock has a market cap of $621.69 million, a price-to-earnings ratio of 11.00, a price-to-earnings-growth ratio of 1.06 and a beta of 1.21. Great Lakes Dredge & Dock Co. has a 12 month low of $6.55 and a 12 month high of $12.89.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last posted its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.23 by $0.06. The firm had revenue of $202.77 million during the quarter, compared to analysts’ expectations of $211.20 million. Great Lakes Dredge & Dock had a return on equity of 13.72% and a net margin of 7.51%. As a group, equities analysts forecast that Great Lakes Dredge & Dock Co. will post 0.69 EPS for the current year.

Great Lakes Dredge & Dock declared that its Board of Directors has approved a share buyback plan on Friday, March 14th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the construction company to purchase up to 8.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Great Lakes Dredge & Dock

In other Great Lakes Dredge & Dock news, SVP Christopher Gunsten purchased 3,875 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average cost of $7.75 per share, for a total transaction of $30,031.25. Following the transaction, the senior vice president now directly owns 61,532 shares in the company, valued at approximately $476,873. The trade was a 6.72 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 2.20% of the stock is currently owned by insiders.

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.