BNP PARIBAS ASSET MANAGEMENT Holding S.A. Takes $6.74 Million Position in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 640,503 shares of the construction company’s stock, valued at approximately $6,744,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GLDD. Jennison Associates LLC increased its stake in 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 buying an additional 79,087 shares in the last quarter. Thompson Davis & CO. Inc. purchased a new stake in shares of Great Lakes Dredge & Dock during the third quarter worth approximately $740,000. Minerva Advisors LLC raised its stake in Great Lakes Dredge & Dock by 1.5% in the 3rd quarter. Minerva Advisors LLC now owns 1,341,807 shares of the construction company’s stock valued at $14,116,000 after purchasing an additional 19,470 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Great Lakes Dredge & Dock by 1.0% in the 3rd quarter. Victory Capital Management Inc. now owns 123,228 shares of the construction company’s stock valued at $1,298,000 after purchasing an additional 1,228 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its stake in Great Lakes Dredge & Dock by 138.5% during the 3rd quarter. GSA Capital Partners LLP now owns 154,451 shares of the construction company’s stock worth $1,626,000 after purchasing an additional 89,684 shares during the last quarter. 89.11% of the stock is owned by hedge funds and other institutional investors.

Great Lakes Dredge & Dock Stock Performance

Shares of Great Lakes Dredge & Dock stock opened at $12.33 on Monday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.01 and a current ratio of 1.21. The business’s 50 day moving average price is $11.53 and its 200 day moving average price is $9.95. The company has a market cap of $829.44 million, a price-to-earnings ratio of 14.17, a PEG ratio of 0.46 and a beta of 1.13. Great Lakes Dredge & Dock Co. has a one year low of $6.55 and a one year high of $12.83.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last posted its quarterly earnings results on Tuesday, November 5th. The construction company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.05). Great Lakes Dredge & Dock had a return on equity of 13.35% and a net margin of 7.97%. The company had revenue of $191.17 million for the quarter, compared to analysts’ expectations of $180.80 million. During the same quarter in the prior year, the firm earned ($0.09) EPS. On average, research analysts predict that Great Lakes Dredge & Dock Co. will post 0.76 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. StockNews.com cut shares of Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research report on Thursday, August 15th. Noble Financial increased their price objective on shares of Great Lakes Dredge & Dock from $11.00 to $14.00 and gave the company an “outperform” rating in a report on Monday, September 23rd.

Insider Buying and Selling at Great Lakes Dredge & Dock

In other Great Lakes Dredge & Dock news, Director Kathleen M. Shanahan sold 23,238 shares of Great Lakes Dredge & Dock stock in a transaction on Monday, November 11th. The stock was sold at an average price of $12.63, for a total value of $293,495.94. Following the sale, the director now owns 67,675 shares in the company, valued at $854,735.25. The trade was a 25.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.20% of the stock is currently owned by company insiders.

Great Lakes Dredge & Dock Company 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.