New Jersey Better Educational Savings Trust Has $344,000 Stake in Great Lakes Dredge & Dock Corporation (GLDD)

New Jersey Better Educational Savings Trust held its position in shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) during the second quarter, Holdings Channel reports. The firm owned 80,000 shares of the construction company’s stock at the end of the second quarter. New Jersey Better Educational Savings Trust’s holdings in Great Lakes Dredge & Dock Corporation were worth $344,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Russell Investments Group Ltd. raised its position in Great Lakes Dredge & Dock Corporation by 1.4% in the first quarter. Russell Investments Group Ltd. now owns 1,250,276 shares of the construction company’s stock valued at $5,000,000 after buying an additional 17,797 shares during the period. Renaissance Technologies LLC raised its position in Great Lakes Dredge & Dock Corporation by 46.2% in the fourth quarter. Renaissance Technologies LLC now owns 79,263 shares of the construction company’s stock valued at $333,000 after buying an additional 25,063 shares during the period. OppenheimerFunds Inc. raised its position in Great Lakes Dredge & Dock Corporation by 4.8% in the first quarter. OppenheimerFunds Inc. now owns 39,677 shares of the construction company’s stock valued at $159,000 after buying an additional 1,807 shares during the period. California Public Employees Retirement System raised its position in Great Lakes Dredge & Dock Corporation by 0.4% in the first quarter. California Public Employees Retirement System now owns 305,100 shares of the construction company’s stock valued at $1,220,000 after buying an additional 1,300 shares during the period. Finally, SG Americas Securities LLC bought a new position in Great Lakes Dredge & Dock Corporation during the first quarter valued at approximately $101,000. 73.10% of the stock is currently owned by institutional investors and hedge funds.

Great Lakes Dredge & Dock Corporation (GLDD) opened at 3.75 on Friday. The stock’s market capitalization is $230.27 million. Great Lakes Dredge & Dock Corporation has a 52-week low of $3.05 and a 52-week high of $5.45. The firm has a 50-day moving average price of $4.09 and a 200 day moving average price of $4.39.

Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) last released its quarterly earnings data on Wednesday, August 2nd. The construction company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by $0.01. Great Lakes Dredge & Dock Corporation had a negative net margin of 2.62% and a positive return on equity of 1.00%. The business had revenue of $176.90 million during the quarter, compared to analyst estimates of $201.70 million. During the same period in the previous year, the firm posted ($0.03) EPS. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. On average, equities research analysts predict that Great Lakes Dredge & Dock Corporation will post $0.05 EPS for the current year.

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

In other Great Lakes Dredge & Dock Corporation news, CEO Lasse Petterson acquired 155,897 shares of Great Lakes Dredge & Dock Corporation stock in a transaction that occurred on Wednesday, August 9th. The stock was acquired at an average price of $3.74 per share, with a total value of $583,054.78. Following the purchase, the chief executive officer now owns 349,176 shares in the company, valued at $1,305,918.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders purchased 249,294 shares of company stock valued at $928,774. 8.24% of the stock is owned by company insiders.

About Great Lakes Dredge & Dock Corporation

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.

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

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