Teacher Retirement System of Texas Sells 72,993 Shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD)

Teacher Retirement System of Texas cut its stake in shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) by 63.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 42,190 shares of the construction company’s stock after selling 72,993 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.06% of Great Lakes Dredge & Dock worth $367,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Acuitas Investments LLC grew its position in shares of Great Lakes Dredge & Dock by 17.4% during the 1st quarter. Acuitas Investments LLC now owns 423,234 shares of the construction company’s stock worth $3,682,000 after buying an additional 62,653 shares during the period. Byrne Asset Management LLC bought a new stake in shares of Great Lakes Dredge & Dock during the 1st quarter worth approximately $40,000. GAMMA Investing LLC raised its stake in Great Lakes Dredge & Dock by 800.5% in the 1st quarter. GAMMA Investing LLC now owns 16,965 shares of the construction company’s stock valued at $148,000 after acquiring an additional 15,081 shares during the period. Total Wealth Planning & Management Inc. bought a new stake in shares of Great Lakes Dredge & Dock in the fourth quarter valued at about $522,000. Finally, Mackenzie Financial Corp acquired a new stake in shares of Great Lakes Dredge & Dock during the 4th quarter worth $223,000. 89.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Activity at Great Lakes Dredge & Dock

In other news, SVP Eleni Beyko sold 22,579 shares of the company’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $10.26, for a total transaction of $231,660.54. Following the transaction, the senior vice president directly owned 50,138 shares of the company’s stock, valued at approximately $514,415.88. This represents a 31.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ronald Steger sold 5,000 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $11.59, for a total transaction of $57,950.00. Following the sale, the director directly owned 20,404 shares in the company, valued at approximately $236,482.36. The trade was a 19.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.20% of the stock is owned by insiders.

Great Lakes Dredge & Dock Price Performance

Shares of NASDAQ GLDD opened at $11.36 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.33 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $771.68 million, a P/E ratio of 11.14, a P/E/G ratio of 0.97 and a beta of 1.30. The stock’s 50-day simple moving average is $11.46 and its two-hundred day simple moving average is $10.33. Great Lakes Dredge & Dock Corporation has a twelve month low of $7.51 and a twelve month high of $12.89.

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

Great Lakes Dredge & Dock Company 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.