Federated Hermes Inc. Reduces Stock Holdings in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD)

Federated Hermes Inc. decreased its holdings in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) by 38.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,460 shares of the construction company’s stock after selling 2,159 shares during the quarter. Federated Hermes Inc.’s holdings in Great Lakes Dredge & Dock were worth $30,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GLDD. Byrne Asset Management LLC bought a new position in shares of Great Lakes Dredge & Dock during the first quarter valued at $40,000. Lazard Asset Management LLC bought a new stake in Great Lakes Dredge & Dock in the 4th quarter worth about $118,000. Walleye Capital LLC bought a new stake in Great Lakes Dredge & Dock in the 4th quarter worth about $137,000. LPL Financial LLC bought a new stake in Great Lakes Dredge & Dock in the 4th quarter worth about $162,000. Finally, GAMMA Investing LLC increased its holdings 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 worth $148,000 after buying an additional 15,081 shares in the last quarter. Hedge funds and other institutional investors own 89.11% of the company’s stock.

Great Lakes Dredge & Dock Stock Down 0.9%

GLDD stock opened at $11.47 on Tuesday. Great Lakes Dredge & Dock Corporation has a twelve month low of $7.51 and a twelve month high of $12.89. The company has a quick ratio of 1.02, a current ratio of 1.15 and a debt-to-equity ratio of 0.87. The stock has a market cap of $779.96 million, a P/E ratio of 10.92, a PEG ratio of 0.97 and a beta of 1.35. The business’s 50-day moving average price is $11.51 and its 200-day moving average price is $10.26.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last posted its quarterly earnings data on Tuesday, August 5th. The construction company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.06. Great Lakes Dredge & Dock had a return on equity of 15.61% and a net margin of 8.63%. The firm had revenue of $193.76 million for the quarter, compared to analysts’ expectations of $177.70 million. On average, equities research analysts forecast that Great Lakes Dredge & Dock Corporation will post 0.69 EPS for the current year.

Insider Buying and Selling

In related news, Director Ronald Steger sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $11.59, for a total value of $57,950.00. Following the transaction, the director directly owned 20,404 shares of the company’s stock, valued at approximately $236,482.36. The trade was a 19.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded 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.