Proficio Capital Partners LLC Invests $220,000 in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Proficio Capital Partners LLC acquired a new stake in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 19,509 shares of the construction company’s stock, valued at approximately $220,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GLDD. Intech Investment Management LLC acquired a new position in shares of Great Lakes Dredge & Dock during the 3rd quarter worth approximately $157,000. Quantbot Technologies LP boosted its holdings in Great Lakes Dredge & Dock by 204.5% in the 3rd quarter. Quantbot Technologies LP now owns 14,973 shares of the construction company’s stock valued at $158,000 after purchasing an additional 10,055 shares during the period. BNP Paribas Financial Markets lifted its position in shares of Great Lakes Dredge & Dock by 60.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 287,248 shares of the construction company’s stock valued at $3,025,000 after acquiring an additional 108,227 shares during the period. PEAK6 Investments LLC lifted its position in Great Lakes Dredge & Dock by 86.7% during the third quarter. PEAK6 Investments LLC now owns 95,685 shares of the construction company’s stock worth $1,008,000 after purchasing an additional 44,425 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Great Lakes Dredge & Dock by 6.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 213,330 shares of the construction company’s stock worth $2,246,000 after buying an additional 13,203 shares in the last quarter. 89.11% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, SVP Christopher Gunsten bought 3,875 shares of the stock in a transaction on Tuesday, March 4th. The stock was acquired at an average price of $7.75 per share, with a total value of $30,031.25. Following the acquisition, the senior vice president now directly owns 61,532 shares in the company, valued at approximately $476,873. This trade represents a 6.72 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.20% of the stock is owned by corporate insiders.

Great Lakes Dredge & Dock Price Performance

Shares of NASDAQ:GLDD opened at $8.99 on Friday. 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 has a market capitalization of $604.87 million, a PE ratio of 10.70, a PEG ratio of 1.06 and a beta of 1.21. The firm has a 50 day moving average of $9.77 and a 200-day moving average of $10.96. 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 issued its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.06. The company had revenue of $202.77 million for the quarter, compared to analyst estimates of $211.20 million. Great Lakes Dredge & Dock had a return on equity of 13.72% and a net margin of 7.51%. On average, equities research analysts predict that Great Lakes Dredge & Dock Co. will post 0.69 EPS for the current fiscal year.

Great Lakes Dredge & Dock announced that its board has approved a stock repurchase program on Friday, March 14th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the construction company to purchase up to 8.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

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.