Kennedy Capital Management Inc. decreased its stake in shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) by 3.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 718,492 shares of the construction company’s stock after selling 23,098 shares during the period. Kennedy Capital Management Inc. owned 1.17% of Great Lakes Dredge & Dock Corporation worth $3,090,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC increased its position in Great Lakes Dredge & Dock Corporation by 4.9% during the first quarter. Geode Capital Management LLC now owns 450,229 shares of the construction company’s stock worth $1,800,000 after purchasing an additional 21,195 shares during the last quarter. Private Management Group Inc. acquired a new position in Great Lakes Dredge & Dock Corporation during the second quarter worth approximately $4,139,000. Russell Investments Group Ltd. increased its position in Great Lakes Dredge & Dock Corporation by 1.4% during the first quarter. Russell Investments Group Ltd. now owns 1,250,276 shares of the construction company’s stock worth $5,000,000 after purchasing an additional 17,797 shares during the last quarter. Vanguard Group Inc. increased its position in Great Lakes Dredge & Dock Corporation by 10.3% during the first quarter. Vanguard Group Inc. now owns 2,368,148 shares of the construction company’s stock worth $9,472,000 after purchasing an additional 220,755 shares during the last quarter. Finally, OppenheimerFunds Inc. increased its position in Great Lakes Dredge & Dock Corporation by 4.8% during the first quarter. OppenheimerFunds Inc. now owns 39,677 shares of the construction company’s stock worth $159,000 after purchasing an additional 1,807 shares during the last quarter. 71.23% of the stock is owned by hedge funds and other institutional investors.

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Shares of Great Lakes Dredge & Dock Corporation (GLDD) opened at 4.80 on Monday. The firm’s 50-day moving average is $3.97 and its 200 day moving average is $4.23. Great Lakes Dredge & Dock Corporation has a 1-year low of $3.05 and a 1-year high of $5.45. The stock’s market capitalization is $294.74 million.

Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) last issued its quarterly earnings data on Wednesday, August 2nd. The construction company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01). The business had revenue of $176.90 million for the quarter, compared to the consensus estimate of $201.70 million. Great Lakes Dredge & Dock Corporation had a negative net margin of 2.62% and a positive return on equity of 1.00%. Great Lakes Dredge & Dock Corporation’s revenue was down 8.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.03) EPS. On average, analysts expect that Great Lakes Dredge & Dock Corporation will post $0.02 EPS for the current fiscal year.

In other Great Lakes Dredge & Dock Corporation news, CEO Lasse Petterson acquired 17,255 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The shares were purchased at an average price of $3.70 per share, with a total value of $63,843.50. Following the completion of the transaction, the chief executive officer now owns 349,176 shares in the company, valued at $1,291,951.20. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In the last ninety days, insiders have purchased 291,904 shares of company stock worth $1,095,805. Insiders own 8.24% of the company’s stock.

Several equities analysts recently commented on GLDD shares. BidaskClub lowered shares of Great Lakes Dredge & Dock Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Cantor Fitzgerald reiterated a “buy” rating and set a $6.50 price objective on shares of Great Lakes Dredge & Dock Corporation in a research note on Tuesday, July 11th. Finally, ValuEngine upgraded shares of Great Lakes Dredge & Dock Corporation from a “sell” rating to a “hold” rating in a research note on Friday, August 4th.

Great Lakes Dredge & Dock Corporation Company Profile

Great Lakes Dredge & Dock Corporation is a provider of dredging services. The Company provides dredging services in the East, West and Gulf Coasts of the United States and around the world. It operates in two segments: Dredging Operations, which involves enhancement or preservation of navigability of waterways or the protection of shorelines through the removal or replenishment of soil, sand or rock, and Environmental & Remediation Operations, which provides construction services on soil, water and sediment for clients in both the public and private sectors.

Institutional Ownership by Quarter for Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD)

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