Dimensional Fund Advisors LP Sells 11,019 Shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Dimensional Fund Advisors LP reduced its stake in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 0.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,437,772 shares of the construction company’s stock after selling 11,019 shares during the quarter. Dimensional Fund Advisors LP owned approximately 6.62% of Great Lakes Dredge & Dock worth $38,964,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. ARS Investment Partners LLC increased its position in shares of Great Lakes Dredge & Dock by 11.0% during 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. Innealta Capital LLC bought a new stake in Great Lakes Dredge & Dock during the 2nd quarter valued at approximately $30,000. Quadrature Capital Ltd grew its holdings in shares of Great Lakes Dredge & Dock by 23.7% during the 1st quarter. Quadrature Capital Ltd now owns 18,278 shares of the construction company’s stock worth $160,000 after acquiring an additional 3,506 shares during the period. CWM LLC raised 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 worth $44,000 after acquiring an additional 4,237 shares in the last quarter. Finally, Essex Investment Management Co. LLC lifted its stake in shares of Great Lakes Dredge & Dock by 1.5% in the 1st quarter. Essex Investment Management Co. LLC now owns 302,546 shares of the construction company’s stock valued at $2,647,000 after purchasing an additional 4,518 shares during the period. 89.11% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Great Lakes Dredge & Dock

In other Great Lakes Dredge & Dock news, CEO Lasse Petterson sold 53,771 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $9.06, for a total transaction of $487,165.26. Following the transaction, the chief executive officer now owns 987,758 shares in the company, valued at approximately $8,949,087.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders have sold 128,990 shares of company stock worth $1,174,747. Insiders own 2.20% of the company’s stock.

Great Lakes Dredge & Dock Price Performance

GLDD stock opened at $10.53 on Tuesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.13 and a current ratio of 1.32. The firm has a 50 day moving average price of $9.45 and a 200-day moving average price of $8.87. Great Lakes Dredge & Dock Co. has a 52-week low of $6.11 and a 52-week high of $10.93. The firm has a market capitalization of $705.60 million, a price-to-earnings ratio of 18.47, a PEG ratio of 0.38 and a beta of 1.15.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last announced its quarterly earnings data on Tuesday, August 6th. The construction company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.08. Great Lakes Dredge & Dock had a return on equity of 10.05% and a net margin of 6.61%. The business had revenue of $170.09 million during the quarter, compared to analysts’ expectations of $165.00 million. During the same quarter in the previous year, the business earned $0.03 earnings per share. Equities research analysts forecast that Great Lakes Dredge & Dock Co. will post 0.8 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on GLDD. StockNews.com cut Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research note on Thursday, August 15th. Noble Financial upped their target price 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.

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.