Quantbot Technologies LP Raises Stock Position in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Quantbot Technologies LP lifted its stake in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 29.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 19,429 shares of the construction company’s stock after acquiring an additional 4,456 shares during the period. Quantbot Technologies LP’s holdings in Great Lakes Dredge & Dock were worth $219,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Intech Investment Management LLC purchased a new position in shares of Great Lakes Dredge & Dock during the third quarter worth about $157,000. BNP Paribas Financial Markets boosted its position in shares of Great Lakes Dredge & Dock by 60.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 287,248 shares of the construction company’s stock valued at $3,025,000 after purchasing an additional 108,227 shares during the period. PEAK6 Investments LLC grew its stake in Great Lakes Dredge & Dock by 86.7% during the 3rd quarter. PEAK6 Investments LLC now owns 95,685 shares of the construction company’s stock worth $1,008,000 after buying an additional 44,425 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Great Lakes Dredge & Dock by 6.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 213,330 shares of the construction company’s stock worth $2,246,000 after buying an additional 13,203 shares during the period. Finally, Verition Fund Management LLC lifted its stake in Great Lakes Dredge & Dock by 225.3% in the third quarter. Verition Fund Management LLC now owns 60,127 shares of the construction company’s stock valued at $633,000 after buying an additional 41,645 shares during the last quarter. 89.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Great Lakes Dredge & Dock

In other news, SVP Christopher Gunsten acquired 3,875 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average cost of $7.75 per share, for a total transaction of $30,031.25. Following the transaction, the senior vice president now directly owns 61,532 shares in the company, valued at approximately $476,873. This represents a 6.72 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 2.20% of the stock is currently owned by insiders.

Great Lakes Dredge & Dock Price Performance

GLDD stock opened at $8.84 on Friday. The business has a 50 day simple moving average of $9.71 and a 200-day simple moving average of $10.96. The company has a market capitalization of $594.78 million, a P/E ratio of 10.52, a PEG ratio of 1.06 and a beta of 1.21. Great Lakes Dredge & Dock Co. has a twelve month low of $6.55 and a twelve month high of $12.89. 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 (NASDAQ:GLDD) last issued its quarterly earnings data on Tuesday, February 18th. The construction company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.06. Great Lakes Dredge & Dock had a net margin of 7.51% and a return on equity of 13.72%. The company had revenue of $202.77 million for the quarter, compared to the consensus estimate of $211.20 million. As a group, equities analysts anticipate that Great Lakes Dredge & Dock Co. will post 0.69 EPS for the current year.

Great Lakes Dredge & Dock announced that its Board of Directors has authorized a stock buyback plan on Friday, March 14th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the construction company to buy up to 8.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.