Prospera Financial Services Inc Lowers Stock Holdings in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Prospera Financial Services Inc reduced its stake in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 18.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,500 shares of the construction company’s stock after selling 3,500 shares during the quarter. Prospera Financial Services Inc’s holdings in Great Lakes Dredge & Dock were worth $163,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Victory Capital Management Inc. grew its stake in shares of 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 during the last quarter. GSA Capital Partners LLP boosted its stake in shares of Great Lakes Dredge & Dock by 138.5% in the third quarter. GSA Capital Partners LLP now owns 154,451 shares of the construction company’s stock valued at $1,626,000 after buying an additional 89,684 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in shares of Great Lakes Dredge & Dock in the third quarter valued at approximately $1,079,000. nVerses Capital LLC boosted its stake in shares of Great Lakes Dredge & Dock by 400.0% in the third quarter. nVerses Capital LLC now owns 3,500 shares of the construction company’s stock valued at $37,000 after buying an additional 2,800 shares in the last quarter. Finally, Bfsg LLC boosted its stake in shares of Great Lakes Dredge & Dock by 1,465.4% in the third quarter. Bfsg LLC now owns 185,035 shares of the construction company’s stock valued at $1,948,000 after buying an additional 173,215 shares in the last quarter. 89.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Kathleen M. Shanahan sold 23,238 shares of the business’s 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 transaction, the director now directly owns 67,675 shares of the company’s stock, valued at $854,735.25. The trade was a 25.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on GLDD shares. Noble Financial lifted their price target on Great Lakes Dredge & Dock from $11.00 to $14.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd. StockNews.com downgraded Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research note on Thursday, August 15th.

Great Lakes Dredge & Dock Stock Performance

Shares of GLDD stock opened at $12.48 on Tuesday. The stock has a fifty day moving average price of $11.53 and a 200 day moving average price of $9.95. The stock has a market cap of $839.55 million, a PE ratio of 14.25, a P/E/G ratio of 0.46 and a beta of 1.13. Great Lakes Dredge & Dock Co. has a 1 year low of $6.55 and a 1 year high of $12.83. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.01 and a current ratio of 1.21.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last issued its quarterly earnings data on Tuesday, November 5th. The construction company reported $0.13 earnings per share (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 period in the prior year, the firm posted ($0.09) earnings per share. Sell-side analysts forecast that Great Lakes Dredge & Dock Co. will post 0.76 earnings per share for the current fiscal year.

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.