Great Lakes Dredge & Dock Corporation $GLDD Shares Sold by MassMutual Private Wealth & Trust FSB

MassMutual Private Wealth & Trust FSB trimmed its holdings in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) by 44.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,637 shares of the construction company’s stock after selling 2,130 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Great Lakes Dredge & Dock were worth $32,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GLDD. Bank of America Corp DE grew its position in Great Lakes Dredge & Dock by 39.7% in the 4th quarter. Bank of America Corp DE now owns 161,186 shares of the construction company’s stock valued at $1,820,000 after buying an additional 45,810 shares during the last quarter. Deutsche Bank AG grew its position in Great Lakes Dredge & Dock by 51.4% in the 4th quarter. Deutsche Bank AG now owns 58,705 shares of the construction company’s stock valued at $663,000 after buying an additional 19,943 shares during the last quarter. Lazard Asset Management LLC purchased a new position in Great Lakes Dredge & Dock in the 4th quarter valued at $118,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Great Lakes Dredge & Dock by 3.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,537 shares of the construction company’s stock valued at $424,000 after buying an additional 1,235 shares during the last quarter. Finally, Millennium Management LLC grew its position in Great Lakes Dredge & Dock by 254.3% in the 4th 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. 89.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Zacks Research upgraded shares of Great Lakes Dredge & Dock to a “strong-buy” rating in a research report 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Strong Buy” and a consensus target price of $14.00.

Great Lakes Dredge & Dock Price Performance

Great Lakes Dredge & Dock stock opened at $12.11 on Monday. Great Lakes Dredge & Dock Corporation has a 52 week low of $7.51 and a 52 week 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 firm’s 50-day simple moving average is $11.54 and its 200 day simple moving average is $10.64. The firm has a market capitalization of $823.48 million, a PE ratio of 11.53, a P/E/G ratio of 0.99 and a beta of 1.34.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last released its quarterly earnings data on Tuesday, August 5th. The construction company reported $0.14 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $177.70 million. On average, equities research analysts predict 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.