American Century Companies Inc. Acquires 231,558 Shares of Great Lakes Dredge & Dock Corporation $GLDD

American Century Companies Inc. grew its holdings in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) by 10.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,412,467 shares of the construction company’s stock after purchasing an additional 231,558 shares during the period. American Century Companies Inc. owned about 3.55% of Great Lakes Dredge & Dock worth $28,925,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Geode Capital Management LLC grew its holdings in shares of Great Lakes Dredge & Dock by 3.2% in the second quarter. Geode Capital Management LLC now owns 1,656,547 shares of the construction company’s stock worth $20,195,000 after purchasing an additional 51,269 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Great Lakes Dredge & Dock by 12.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 888,739 shares of the construction company’s stock valued at $10,656,000 after buying an additional 99,463 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Great Lakes Dredge & Dock by 680.1% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 841,140 shares of the construction company’s stock valued at $10,253,000 after buying an additional 733,312 shares during the period. CenterBook Partners LP boosted its position in Great Lakes Dredge & Dock by 47.6% in the 3rd quarter. CenterBook Partners LP now owns 518,331 shares of the construction company’s stock valued at $6,215,000 after buying an additional 167,149 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in Great Lakes Dredge & Dock by 99.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 494,033 shares of the construction company’s stock worth $5,884,000 after acquiring an additional 246,007 shares in the last quarter. 89.11% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GLDD. Noble Financial lowered shares of Great Lakes Dredge & Dock from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 12th. Weiss Ratings raised Great Lakes Dredge & Dock from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, January 21st. Zacks Research upgraded Great Lakes Dredge & Dock from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $17.00 target price on shares of Great Lakes Dredge & Dock in a research report on Wednesday, March 4th. Finally, CJS Securities upgraded Great Lakes Dredge & Dock to a “strong-buy” rating in a report on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $17.00.

Great Lakes Dredge & Dock Trading Up 0.1%

NASDAQ:GLDD opened at $16.94 on Monday. Great Lakes Dredge & Dock Corporation has a one year low of $7.51 and a one year high of $16.99. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.88 and a current ratio of 1.01. The firm has a market cap of $1.13 billion, a P/E ratio of 15.83, a P/E/G ratio of 1.25 and a beta of 1.38. The firm has a 50-day simple moving average of $15.35 and a 200-day simple moving average of $13.30.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last released its quarterly earnings data on Monday, February 23rd. The construction company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.10. The firm had revenue of $256.45 million for the quarter, compared to the consensus estimate of $216.30 million. Great Lakes Dredge & Dock had a net margin of 8.27% and a return on equity of 16.46%. Equities analysts anticipate that Great Lakes Dredge & Dock Corporation will post 0.69 EPS for the current fiscal year.

Insiders Place Their Bets

In other Great Lakes Dredge & Dock news, SVP David Johanson sold 2,100 shares of the company’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $13.96, for a total transaction of $29,316.00. Following the completion of the sale, the senior vice president owned 91,963 shares in the company, valued at $1,283,803.48. This represents a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is currently owned by corporate insiders.

Great Lakes Dredge & Dock Company Profile

Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) is a leading provider of dredging and maritime construction services in the United States. The company specializes in the excavation and removal of sediment from waterways, harbors, ports and coastal areas to maintain navigability and support commercial shipping. Its operations encompass both maintenance dredging—removing accumulated material to restore channel depth—and new work projects such as land reclamation and harbor deepening.

In addition to traditional dredging, Great Lakes Dredge & Dock offers a range of complementary marine construction services.