Rhumbline Advisers Sells 4,258 Shares of Great Lakes Dredge & Dock Corporation $GLDD

Rhumbline Advisers lessened its position in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) by 4.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 102,310 shares of the construction company’s stock after selling 4,258 shares during the quarter. Rhumbline Advisers owned approximately 0.15% of Great Lakes Dredge & Dock worth $890,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Strs Ohio purchased a new position in shares of Great Lakes Dredge & Dock in the 1st quarter valued at approximately $45,000. Jane Street Group LLC raised its stake in Great Lakes Dredge & Dock by 80.0% during the first quarter. Jane Street Group LLC now owns 74,222 shares of the construction company’s stock valued at $646,000 after buying an additional 32,987 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Great Lakes Dredge & Dock by 1.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 246,766 shares of the construction company’s stock valued at $2,147,000 after buying an additional 3,042 shares during the last quarter. Empowered Funds LLC purchased a new position in Great Lakes Dredge & Dock during the first quarter valued at $1,726,000. Finally, Teza Capital Management LLC purchased a new position in Great Lakes Dredge & Dock during the first quarter valued at $111,000. Hedge funds and other institutional investors own 89.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded Great Lakes Dredge & Dock to a “strong-buy” rating in a research note on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to MarketBeat.com, Great Lakes Dredge & Dock currently has a consensus rating of “Strong Buy” and an average price target of $14.00.

Great Lakes Dredge & Dock Stock Down 1.3%

Shares of NASDAQ GLDD opened at $12.11 on Friday. The company has a current ratio of 1.15, a quick ratio of 1.02 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $823.42 million, a PE ratio of 11.53, a price-to-earnings-growth ratio of 0.99 and a beta of 1.34. The stock’s fifty day simple moving average is $11.54 and its two-hundred day simple moving average is $10.62. Great Lakes Dredge & Dock Corporation has a 12-month low of $7.51 and a 12-month high of $12.89.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last released 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. The business had revenue of $193.76 million during the quarter, compared to analyst estimates of $177.70 million. Great Lakes Dredge & Dock had a return on equity of 15.61% and a net margin of 8.63%. As a group, analysts expect that Great Lakes Dredge & Dock Corporation will post 0.69 EPS for the current fiscal year.

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.