Barclays PLC Increases Stock Position in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Barclays PLC lifted its position in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 16.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 124,633 shares of the construction company’s stock after buying an additional 17,991 shares during the period. Barclays PLC owned approximately 0.19% of Great Lakes Dredge & Dock worth $1,407,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Sanctuary Advisors LLC increased its stake in Great Lakes Dredge & Dock by 0.4% during the fourth quarter. Sanctuary Advisors LLC now owns 235,282 shares of the construction company’s stock worth $2,623,000 after acquiring an additional 979 shares during the last quarter. AlphaQuest LLC acquired a new stake in Great Lakes Dredge & Dock during the 4th quarter worth approximately $33,000. Legal & General Group Plc increased its position in Great Lakes Dredge & Dock by 4.9% during the 4th quarter. Legal & General Group Plc now owns 75,180 shares of the construction company’s stock worth $849,000 after purchasing an additional 3,513 shares in the last quarter. Invesco Ltd. raised its holdings in Great Lakes Dredge & Dock by 2.2% in the fourth quarter. Invesco Ltd. now owns 182,591 shares of the construction company’s stock valued at $2,061,000 after buying an additional 3,867 shares during the period. Finally, Quantbot Technologies LP grew its stake in Great Lakes Dredge & Dock by 29.8% during the fourth quarter. Quantbot Technologies LP now owns 19,429 shares of the construction company’s stock worth $219,000 after buying an additional 4,456 shares during the period. 89.11% of the stock is owned by hedge funds and other institutional investors.

Great Lakes Dredge & Dock Stock Performance

Shares of GLDD stock opened at $9.62 on Friday. 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 company has a market cap of $648.01 million, a PE ratio of 11.45, a P/E/G ratio of 1.06 and a beta of 1.17. The company’s fifty day simple moving average is $8.65 and its 200-day simple moving average is $10.59. Great Lakes Dredge & Dock Co. has a 52 week low of $6.99 and a 52 week high of $12.89.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last released its quarterly earnings data on Tuesday, February 18th. The construction company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.23 by $0.06. Great Lakes Dredge & Dock had a return on equity of 13.72% and a net margin of 7.51%. The company had revenue of $202.77 million for the quarter, compared to analyst estimates of $211.20 million. As a group, equities research analysts anticipate 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 approved a share repurchase program 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 stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Great Lakes Dredge & Dock

In other news, SVP Christopher Gunsten acquired 3,875 shares of the 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 completion of the transaction, the senior vice president now directly owns 61,532 shares of the company’s stock, valued at $476,873. The trade was a 6.72 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.20% 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.