Wellington Management Group LLP Sells 272,451 Shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Wellington Management Group LLP cut its stake in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 44.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 333,957 shares of the construction company’s stock after selling 272,451 shares during the period. Wellington Management Group LLP’s holdings in Great Lakes Dredge & Dock were worth $3,517,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of GLDD. CWM LLC increased 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 worth $44,000 after purchasing an additional 4,237 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Great Lakes Dredge & Dock by 8.9% in the second quarter. Bank of New York Mellon Corp now owns 254,686 shares of the construction company’s stock worth $2,236,000 after purchasing an additional 20,781 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its position in shares of Great Lakes Dredge & Dock by 7.1% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 130,403 shares of the construction company’s stock worth $1,145,000 after purchasing an additional 8,654 shares during the last quarter. Innealta Capital LLC bought a new position in shares of Great Lakes Dredge & Dock in the second quarter worth approximately $30,000. Finally, Versor Investments LP increased its position in shares of Great Lakes Dredge & Dock by 68.4% in the second quarter. Versor Investments LP now owns 28,800 shares of the construction company’s stock worth $253,000 after purchasing an additional 11,700 shares during the last quarter. 89.11% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Noble Financial upped their price objective 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.

Insiders Place Their Bets

In other Great Lakes Dredge & Dock news, Director Kathleen M. Shanahan sold 23,238 shares of the company’s stock in a transaction that occurred 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 owns 67,675 shares of the company’s stock, valued at $854,735.25. This represents a 25.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.20% of the stock is owned by insiders.

Great Lakes Dredge & Dock Stock Down 1.7 %

Shares of GLDD opened at $11.88 on Wednesday. The firm has a market cap of $799.19 million, a P/E ratio of 13.61, a P/E/G ratio of 0.48 and a beta of 1.15. The stock has a 50 day simple moving average of $12.12 and a two-hundred day simple moving average of $10.31. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.21 and a quick ratio of 1.01. Great Lakes Dredge & Dock Co. has a 1 year low of $6.55 and a 1 year high of $12.89.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last issued its earnings results 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 during the quarter, compared to analysts’ expectations 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 company earned ($0.09) EPS. On average, analysts forecast that Great Lakes Dredge & Dock Co. will post 0.76 earnings per share for the current fiscal year.

About Great Lakes Dredge & Dock

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.