Algert Global LLC Has $2.70 Million Stake in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Algert Global LLC increased its position in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 2.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 256,314 shares of the construction company’s stock after acquiring an additional 6,661 shares during the period. Algert Global LLC owned about 0.38% of Great Lakes Dredge & Dock worth $2,699,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of GLDD. Quarry LP raised its stake in shares of Great Lakes Dredge & Dock by 68.5% during the second quarter. Quarry LP now owns 3,097 shares of the construction company’s stock valued at $27,000 after acquiring an additional 1,259 shares during the last quarter. Innealta Capital LLC bought a new position in Great Lakes Dredge & Dock during the 2nd quarter worth $30,000. nVerses Capital LLC lifted its holdings in Great Lakes Dredge & Dock by 400.0% during the 3rd quarter. nVerses Capital LLC now owns 3,500 shares of the construction company’s stock worth $37,000 after buying an additional 2,800 shares during the period. CWM LLC grew its position in shares of Great Lakes Dredge & Dock by 520.5% in the 2nd quarter. CWM LLC now owns 5,051 shares of the construction company’s stock valued at $44,000 after buying an additional 4,237 shares during the last quarter. Finally, ARS Investment Partners LLC increased its stake in shares of 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 buying an additional 1,200 shares during the period. Institutional investors and hedge funds own 89.11% of the company’s stock.

Great Lakes Dredge & Dock Stock Performance

GLDD stock opened at $12.53 on Wednesday. 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 current ratio of 1.21, a quick ratio of 1.01 and a debt-to-equity ratio of 0.97. The stock has a 50-day moving average price of $11.64 and a 200-day moving average price of $10.00. The firm has a market cap of $842.58 million, a PE ratio of 14.40, a price-to-earnings-growth ratio of 0.46 and a beta of 1.13.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last issued its earnings results on Tuesday, November 5th. The construction company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.05). The business had revenue of $191.17 million during the quarter, compared to the consensus estimate 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 previous year, the firm posted ($0.09) earnings per share. As a group, equities research analysts expect that Great Lakes Dredge & Dock Co. will post 0.76 earnings per share for the current year.

Insider Activity at Great Lakes Dredge & Dock

In related news, Director Kathleen M. Shanahan sold 23,238 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $854,735.25. The trade was a 25.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.