Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. increased its stake in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 878.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,619 shares of the construction company’s stock after acquiring an additional 5,045 shares during the quarter. Federated Hermes Inc.’s holdings in Great Lakes Dredge & Dock were worth $63,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Great Lakes Dredge & Dock by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 3,877,588 shares of the construction company’s stock worth $43,778,000 after purchasing an additional 27,610 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Great Lakes Dredge & Dock by 40.7% in the fourth quarter. American Century Companies Inc. now owns 1,615,591 shares of the construction company’s stock worth $18,240,000 after buying an additional 467,164 shares during the period. Geode Capital Management LLC increased its position in shares of Great Lakes Dredge & Dock by 1.4% in the third quarter. Geode Capital Management LLC now owns 1,561,897 shares of the construction company’s stock worth $16,450,000 after acquiring an additional 22,166 shares in the last quarter. State Street Corp raised its holdings in shares of Great Lakes Dredge & Dock by 0.9% during the third quarter. State Street Corp now owns 1,540,516 shares of the construction company’s stock valued at $16,222,000 after acquiring an additional 13,010 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of Great Lakes Dredge & Dock by 259.6% during the fourth quarter. JPMorgan Chase & Co. now owns 820,397 shares of the construction company’s stock valued at $9,262,000 after acquiring an additional 592,276 shares during the period. 89.11% of the stock is owned by institutional investors and hedge funds.

Great Lakes Dredge & Dock Trading Up 1.0 %

Great Lakes Dredge & Dock stock opened at $8.81 on Friday. The company has a 50 day moving average price of $8.75 and a 200 day moving average price of $10.77. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.01 and a current ratio of 1.21. Great Lakes Dredge & Dock Co. has a 52 week low of $6.55 and a 52 week high of $12.89. The firm has a market capitalization of $593.45 million, a price-to-earnings ratio of 10.49, a P/E/G ratio of 1.06 and a beta of 1.17.

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

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

Insider Buying and Selling at Great Lakes Dredge & Dock

In related news, SVP Christopher Gunsten bought 3,875 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was bought at an average price of $7.75 per share, with a total value of $30,031.25. Following the purchase, the senior vice president now directly owns 61,532 shares of the company’s stock, valued at approximately $476,873. This represents a 6.72 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.00% of the company’s stock.

Great Lakes Dredge & Dock Profile

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.