Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) Shares Acquired by Private Management Group Inc.

Private Management Group Inc. lifted its stake in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 18.0% during the fourth quarter, Holdings Channel reports. The firm owned 1,223,133 shares of the construction company’s stock after buying an additional 186,653 shares during the period. Private Management Group Inc.’s holdings in Great Lakes Dredge & Dock were worth $9,394,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in GLDD. Group One Trading L.P. acquired a new stake in shares of Great Lakes Dredge & Dock during the 3rd quarter worth approximately $30,000. Mackenzie Financial Corp acquired a new stake in Great Lakes Dredge & Dock in the 3rd quarter valued at approximately $83,000. Bfsg LLC acquired a new stake in Great Lakes Dredge & Dock in the 3rd quarter valued at approximately $88,000. AXQ Capital LP acquired a new stake in Great Lakes Dredge & Dock in the 3rd quarter valued at approximately $92,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Great Lakes Dredge & Dock by 23.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,955 shares of the construction company’s stock valued at $123,000 after acquiring an additional 3,011 shares during the period. 89.11% of the stock is currently owned by institutional investors and hedge funds.

Great Lakes Dredge & Dock Price Performance

NASDAQ GLDD traded down $0.19 on Wednesday, reaching $7.44. 231,038 shares of the stock traded hands, compared to its average volume of 358,965. The firm’s fifty day simple moving average is $8.49 and its 200 day simple moving average is $7.79. The company has a quick ratio of 1.07, a current ratio of 1.26 and a debt-to-equity ratio of 1.07. The company has a market cap of $496.55 million, a price-to-earnings ratio of 36.19, a P/E/G ratio of 1.29 and a beta of 0.96. Great Lakes Dredge & Dock Co. has a 12 month low of $5.26 and a 12 month high of $9.78.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last issued its quarterly earnings results on Wednesday, February 14th. The construction company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.16. The firm had revenue of $181.73 million during the quarter, compared to analyst estimates of $190.05 million. Great Lakes Dredge & Dock had a return on equity of 2.56% and a net margin of 2.36%. As a group, research analysts predict that Great Lakes Dredge & Dock Co. will post 0.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on GLDD shares. TheStreet upgraded Great Lakes Dredge & Dock from a “d+” rating to a “c-” rating in a research report on Tuesday, February 20th. StockNews.com upgraded Great Lakes Dredge & Dock from a “sell” rating to a “hold” rating in a research report on Thursday, February 15th.

Great Lakes Dredge & Dock Profile

Great Lakes Dredge & Dock Corporation provides dredging services in the United States. The company engages in capital dredging that consists of port expansion projects; coastal restoration and land reclamations; trench digging for pipelines, tunnels, and cables; and other dredging related to the construction of breakwaters, jetties, canals, and other marine structures.