Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC decreased its holdings in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) by 25.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 91,323 shares of the construction company’s stock after selling 30,575 shares during the period. SG Americas Securities LLC owned approximately 0.14% of Great Lakes Dredge & Dock worth $795,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC increased its position in shares of 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 valued at $2,623,000 after acquiring an additional 979 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Great Lakes Dredge & Dock by 3.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,537 shares of the construction company’s stock worth $424,000 after purchasing an additional 1,235 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in shares of Great Lakes Dredge & Dock by 5.7% in the fourth quarter. Hsbc Holdings PLC now owns 39,984 shares of the construction company’s stock valued at $453,000 after acquiring an additional 2,150 shares during the period. MetLife Investment Management LLC raised its holdings in shares of Great Lakes Dredge & Dock by 5.9% in the fourth quarter. MetLife Investment Management LLC now owns 39,877 shares of the construction company’s stock valued at $450,000 after buying an additional 2,213 shares during the last quarter. Finally, AlphaQuest LLC acquired a new position in shares of Great Lakes Dredge & Dock in the fourth quarter valued at approximately $33,000. 89.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Great Lakes Dredge & Dock news, Director Ronald Steger sold 5,000 shares of the business’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $11.59, for a total value of $57,950.00. Following the transaction, the director now owns 20,404 shares in the company, valued at $236,482.36. The trade was a 19.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Eleni Beyko sold 22,579 shares of Great Lakes Dredge & Dock stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $10.26, for a total value of $231,660.54. Following the sale, the senior vice president now owns 50,138 shares in the company, valued at $514,415.88. This represents a 31.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by company insiders.

Great Lakes Dredge & Dock Stock Performance

Shares of GLDD opened at $11.82 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.20 and a debt-to-equity ratio of 0.86. Great Lakes Dredge & Dock Corporation has a 12-month low of $7.51 and a 12-month high of $12.89. The stock has a market cap of $802.93 million, a P/E ratio of 11.59, a PEG ratio of 1.03 and a beta of 1.29. The company has a 50-day moving average of $10.40 and a two-hundred day moving average of $10.38.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last announced its quarterly earnings data on Tuesday, May 6th. The construction company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.24. Great Lakes Dredge & Dock had a net margin of 8.63% and a return on equity of 15.72%. The business had revenue of $242.87 million for the quarter, compared to the consensus estimate of $206.70 million. As a group, research analysts predict that Great Lakes Dredge & Dock Corporation will post 0.69 EPS for the current fiscal year.

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

Analyst Ratings Changes

Separately, Wall Street Zen raised Great Lakes Dredge & Dock from a “hold” rating to a “buy” rating in a report on Monday, May 19th.

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.