Natixis Advisors LLC Decreases Stock Position in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Natixis Advisors LLC decreased its holdings in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 37.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 17,950 shares of the construction company’s stock after selling 10,725 shares during the period. Natixis Advisors LLC’s holdings in Great Lakes Dredge & Dock were worth $203,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. AlphaQuest LLC purchased a new stake in shares of Great Lakes Dredge & Dock during the fourth quarter valued at $33,000. R Squared Ltd purchased a new stake in Great Lakes Dredge & Dock during the 4th quarter valued at about $69,000. Passumpsic Savings Bank acquired a new position in shares of Great Lakes Dredge & Dock in the fourth quarter valued at about $135,000. Point72 Asset Management L.P. acquired a new stake in shares of Great Lakes Dredge & Dock during the third quarter worth about $147,000. Finally, Intech Investment Management LLC purchased a new stake in Great Lakes Dredge & Dock in the third quarter valued at approximately $157,000. Institutional investors and hedge funds own 89.11% of the company’s stock.

Great Lakes Dredge & Dock Price Performance

Shares of NASDAQ:GLDD opened at $8.84 on Friday. The company’s 50 day moving average is $9.71 and its 200 day moving average is $10.95. The company has a market cap of $594.78 million, a PE ratio of 10.52, a price-to-earnings-growth ratio of 1.06 and a beta of 1.21. 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 twelve month low of $6.55 and a twelve month high of $12.89.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last posted its earnings results on Tuesday, February 18th. The construction company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.06. The company had revenue of $202.77 million during the quarter, compared to the consensus estimate of $211.20 million. Great Lakes Dredge & Dock had a net margin of 7.51% and a return on equity of 13.72%. On average, sell-side analysts forecast that Great Lakes Dredge & Dock Co. will post 0.69 EPS for the current year.

Great Lakes Dredge & Dock declared that its Board of Directors has authorized a share repurchase program on Friday, March 14th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the construction company to buy up to 8.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Insider Transactions at Great Lakes Dredge & Dock

In other news, SVP Christopher Gunsten bought 3,875 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average cost of $7.75 per share, for a total transaction of $30,031.25. Following the purchase, the senior vice president now directly owns 61,532 shares in the company, valued at approximately $476,873. This trade represents a 6.72 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.20% of the company’s stock.

About Great Lakes Dredge & Dock

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.