Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. trimmed its position in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 21.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 215,367 shares of the construction company’s stock after selling 60,532 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.32% of Great Lakes Dredge & Dock worth $2,268,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quarry LP boosted its position in Great Lakes Dredge & Dock by 68.5% during the second quarter. Quarry LP now owns 3,097 shares of the construction company’s stock worth $27,000 after acquiring an additional 1,259 shares during the last quarter. Innealta Capital LLC purchased a new position in shares of Great Lakes Dredge & Dock during the 2nd quarter worth $30,000. nVerses Capital LLC boosted its holdings in shares of Great Lakes Dredge & Dock by 400.0% during the third quarter. nVerses Capital LLC now owns 3,500 shares of the construction company’s stock worth $37,000 after purchasing an additional 2,800 shares during the last quarter. CWM LLC grew its position in shares of Great Lakes Dredge & Dock by 520.5% in the second quarter. CWM LLC now owns 5,051 shares of the construction company’s stock valued at $44,000 after purchasing an additional 4,237 shares during the period. Finally, ARS Investment Partners LLC increased its stake in Great Lakes Dredge & Dock by 11.0% in the second quarter. ARS Investment Partners LLC now owns 12,150 shares of the construction company’s stock valued at $107,000 after purchasing an additional 1,200 shares during the last quarter. 89.11% of the stock is currently owned by hedge funds and other institutional investors.

Great Lakes Dredge & Dock Trading Up 1.2 %

GLDD stock opened at $12.48 on Tuesday. 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 company has a market cap of $839.55 million, a price-to-earnings ratio of 14.34, a PEG ratio of 0.46 and a beta of 1.13. The business has a fifty day simple moving average of $11.53 and a 200-day simple moving average of $9.95. Great Lakes Dredge & Dock Co. has a 52 week low of $6.55 and a 52 week high of $12.83.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last announced 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). The firm had revenue of $191.17 million for the quarter, compared to analyst estimates of $180.80 million. Great Lakes Dredge & Dock had a return on equity of 13.35% and a net margin of 7.97%. During the same quarter in the prior year, the company earned ($0.09) earnings per share. On average, equities research analysts expect that Great Lakes Dredge & Dock Co. will post 0.76 EPS for the current year.

Insider Activity at Great Lakes Dredge & Dock

In related news, Director Kathleen M. Shanahan sold 23,238 shares of the 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 completion of the sale, the director now directly owns 67,675 shares in the company, valued at approximately $854,735.25. This represents a 25.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

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.