AlphaQuest LLC Grows Stake in Great Lakes Dredge & Dock Corporation $GLDD

AlphaQuest LLC grew its stake in shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) by 56.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 19,725 shares of the construction company’s stock after acquiring an additional 7,127 shares during the period. AlphaQuest LLC’s holdings in Great Lakes Dredge & Dock were worth $240,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Victory Capital Management Inc. lifted its holdings in shares of Great Lakes Dredge & Dock by 19.6% in the 1st quarter. Victory Capital Management Inc. now owns 116,000 shares of the construction company’s stock worth $1,009,000 after acquiring an additional 19,000 shares during the last quarter. Minerva Advisors LLC raised its position in Great Lakes Dredge & Dock by 3.6% in the 1st quarter. Minerva Advisors LLC now owns 1,389,807 shares of the construction company’s stock worth $12,091,000 after purchasing an additional 48,000 shares during the period. Mirabaud & Cie SA purchased a new position in Great Lakes Dredge & Dock in the 1st quarter worth $209,000. Nuveen LLC bought a new stake in Great Lakes Dredge & Dock in the first quarter worth $3,960,000. Finally, Graham Capital Management L.P. lifted its stake in Great Lakes Dredge & Dock by 84.9% in the first quarter. Graham Capital Management L.P. now owns 87,148 shares of the construction company’s stock worth $758,000 after purchasing an additional 40,005 shares during the last quarter. Institutional investors own 89.11% of the company’s stock.

Great Lakes Dredge & Dock Price Performance

Shares of GLDD stock opened at $11.35 on Friday. 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 $771.80 million, a price-to-earnings ratio of 10.81, a PEG ratio of 0.94 and a beta of 1.37. The business’s fifty day moving average is $11.67 and its 200 day moving average is $11.25. Great Lakes Dredge & Dock Corporation has a twelve month low of $7.51 and a twelve month high of $12.89.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last released its earnings results on Tuesday, August 5th. The construction company reported $0.14 earnings per share for the quarter, topping 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 firm had revenue of $193.76 million for the quarter, compared to the consensus estimate of $177.70 million. Research analysts expect that Great Lakes Dredge & Dock Corporation will post 0.69 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on GLDD shares. Zacks Research cut Great Lakes Dredge & Dock from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 10th. Weiss Ratings restated a “hold (c+)” rating on shares of Great Lakes Dredge & Dock in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Great Lakes Dredge & Dock Company 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.