Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) Shares Purchased by BNP Paribas Financial Markets

BNP Paribas Financial Markets boosted its stake in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 53.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 441,386 shares of the construction company’s stock after buying an additional 154,138 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.66% of Great Lakes Dredge & Dock worth $4,983,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. AlphaQuest LLC purchased a new stake in shares of Great Lakes Dredge & Dock during the fourth quarter worth approximately $33,000. Federated Hermes Inc. boosted its stake in Great Lakes Dredge & Dock by 878.9% during the 4th quarter. Federated Hermes Inc. now owns 5,619 shares of the construction company’s stock worth $63,000 after purchasing an additional 5,045 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Great Lakes Dredge & Dock during the fourth quarter worth $69,000. Semanteon Capital Management LP acquired a new stake in shares of Great Lakes Dredge & Dock in the fourth quarter valued at about $130,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Great Lakes Dredge & Dock in the fourth quarter worth about $132,000. 89.11% of the stock is currently owned by institutional investors and hedge funds.

Great Lakes Dredge & Dock Stock Up 2.6%

Shares of NASDAQ GLDD opened at $11.42 on Wednesday. The stock has a market cap of $775.71 million, a PE ratio of 13.60, a P/E/G ratio of 1.06 and a beta of 1.23. The company has a current ratio of 1.21, a quick ratio of 1.01 and a debt-to-equity ratio of 0.97. Great Lakes Dredge & Dock Co. has a 12-month low of $7.51 and a 12-month high of $12.89. The company has a 50-day moving average of $8.91 and a 200 day moving average of $10.51.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last issued its earnings results on Tuesday, May 6th. The construction company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.24. The business had revenue of $242.87 million for the quarter, compared to analysts’ expectations of $206.70 million. Great Lakes Dredge & Dock had a return on equity of 13.72% and a net margin of 7.51%. As a group, sell-side analysts predict that Great Lakes Dredge & Dock Co. will post 0.69 EPS for the current fiscal year.

Great Lakes Dredge & Dock declared that its Board of Directors has initiated a stock buyback 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 repurchase up to 8.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Great Lakes Dredge & Dock

In other news, SVP Eleni Beyko sold 22,579 shares of the firm’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $10.26, for a total transaction of $231,660.54. Following the completion of the transaction, the senior vice president now directly owns 50,138 shares in the company, valued at $514,415.88. This trade represents a 31.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Christopher Gunsten purchased 3,875 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was acquired at an average cost of $7.75 per share, with a total value of $30,031.25. Following the transaction, the senior vice president now directly owns 61,532 shares in the company, valued at $476,873. This trade represents a 6.72% increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.20% of the stock is currently owned by company 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.