Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its position in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) by 19.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 116,000 shares of the construction company’s stock after acquiring an additional 19,000 shares during the period. Victory Capital Management Inc. owned 0.17% of Great Lakes Dredge & Dock worth $1,009,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Castlekeep Investment Advisors LLC purchased a new stake in Great Lakes Dredge & Dock during the 4th quarter valued at about $62,958,000. JPMorgan Chase & Co. lifted 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 worth $9,262,000 after purchasing an additional 592,276 shares during the period. Millennium Management LLC boosted its position in Great Lakes Dredge & Dock by 254.3% in the fourth quarter. Millennium Management LLC now owns 698,071 shares of the construction company’s stock valued at $7,881,000 after buying an additional 501,032 shares during the last quarter. Seven Six Capital Management LLC acquired a new position in Great Lakes Dredge & Dock in the 4th quarter worth approximately $3,744,000. Finally, Arrowstreet Capital Limited Partnership raised its position in Great Lakes Dredge & Dock by 681.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 318,600 shares of the construction company’s stock worth $3,597,000 after buying an additional 277,848 shares during the last quarter. 89.11% of the stock is owned by institutional investors and hedge funds.

Great Lakes Dredge & Dock Price Performance

NASDAQ:GLDD opened at $11.08 on Friday. The firm’s fifty day moving average is $11.51 and its two-hundred day moving average is $10.32. The firm has a market cap of $752.66 million, a price-to-earnings ratio of 10.86, a PEG ratio of 0.98 and a beta of 1.30. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.20 and a current ratio of 1.33. Great Lakes Dredge & Dock Corporation has a one year low of $7.51 and a one year high of $12.89.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last issued 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. The business had revenue of $242.87 million during the quarter, compared to analysts’ expectations of $206.70 million. Great Lakes Dredge & Dock had a return on equity of 15.72% and a net margin of 8.63%. Research analysts expect that Great Lakes Dredge & Dock Corporation will post 0.69 EPS for the current year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Great Lakes Dredge & Dock news, Director Ronald Steger sold 5,000 shares of Great Lakes Dredge & Dock stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $11.59, for a total transaction of $57,950.00. Following the sale, the director owned 20,404 shares of the company’s stock, valued at $236,482.36. The trade was a 19.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Eleni Beyko sold 22,579 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $10.26, for a total value of $231,660.54. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.

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.