Nuveen LLC Makes New Investment in Great Lakes Dredge & Dock Corporation $GLDD

Nuveen LLC acquired a new position in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 455,148 shares of the construction company’s stock, valued at approximately $3,960,000. Nuveen LLC owned approximately 0.67% of Great Lakes Dredge & Dock at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. LPL Financial LLC acquired a new stake in shares of Great Lakes Dredge & Dock in the 4th quarter valued at about $162,000. Wells Fargo & Company MN raised its stake in shares of Great Lakes Dredge & Dock by 45.4% in the 4th quarter. Wells Fargo & Company MN now owns 47,112 shares of the construction company’s stock valued at $532,000 after purchasing an additional 14,718 shares in the last quarter. Invesco Ltd. raised its stake in shares of Great Lakes Dredge & Dock by 2.2% in the 4th quarter. Invesco Ltd. now owns 182,591 shares of the construction company’s stock valued at $2,061,000 after purchasing an additional 3,867 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Great Lakes Dredge & Dock in the 4th quarter valued at about $2,322,000. Finally, Barclays PLC raised its stake in shares of Great Lakes Dredge & Dock by 16.9% in the 4th quarter. Barclays PLC now owns 124,633 shares of the construction company’s stock valued at $1,407,000 after purchasing an additional 17,991 shares in the last quarter. Institutional investors and hedge funds own 89.11% of the company’s stock.

Great Lakes Dredge & Dock Price Performance

Shares of NASDAQ:GLDD opened at $11.88 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.15 and a debt-to-equity ratio of 0.87. Great Lakes Dredge & Dock Corporation has a fifty-two week low of $7.51 and a fifty-two week high of $12.89. The firm has a 50-day simple moving average of $11.51 and a 200 day simple moving average of $10.31. The company has a market cap of $807.84 million, a PE ratio of 11.31, a P/E/G ratio of 0.98 and a beta of 1.35.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last announced 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 net margin of 8.63% and a return on equity of 15.61%. The business had revenue of $193.76 million during the quarter, compared to the consensus estimate of $177.70 million. On average, sell-side analysts anticipate that Great Lakes Dredge & Dock Corporation will post 0.69 EPS for the current year.

Insider Buying and Selling at Great Lakes Dredge & Dock

In related news, Director Ronald Steger sold 5,000 shares of the business’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $11.59, for a total transaction of $57,950.00. Following the completion of the sale, the director owned 20,404 shares of the company’s stock, valued at $236,482.36. This represents a 19.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

GLDD has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Great Lakes Dredge & Dock from a “hold” rating to a “buy” rating in a research note on Monday, May 19th. Zacks Research upgraded shares of Great Lakes Dredge & Dock to a “strong-buy” rating in a research note on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Strong Buy” and an average price target of $14.00.

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.