Great Lakes Dredge & Dock Corporation (GLDD) Shares Sold by TIAA CREF Investment Management LLC

TIAA CREF Investment Management LLC lowered its stake in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) by 0.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 162,468 shares of the construction company’s stock after selling 870 shares during the quarter. TIAA CREF Investment Management LLC owned about 0.26% of Great Lakes Dredge & Dock Corporation worth $699,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Geode Capital Management LLC increased its holdings in shares of Great Lakes Dredge & Dock Corporation by 4.9% in the 1st quarter. Geode Capital Management LLC now owns 450,229 shares of the construction company’s stock worth $1,800,000 after buying an additional 21,195 shares during the last quarter. Private Management Group Inc. bought a new stake in shares of Great Lakes Dredge & Dock Corporation in the 2nd quarter worth about $4,139,000. Vanguard Group Inc. increased its holdings in shares of Great Lakes Dredge & Dock Corporation by 10.3% in the 1st quarter. Vanguard Group Inc. now owns 2,368,148 shares of the construction company’s stock worth $9,472,000 after buying an additional 220,755 shares during the last quarter. OppenheimerFunds Inc. increased its holdings in shares of Great Lakes Dredge & Dock Corporation by 4.8% in the 1st quarter. OppenheimerFunds Inc. now owns 39,677 shares of the construction company’s stock worth $159,000 after buying an additional 1,807 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Great Lakes Dredge & Dock Corporation in the 1st quarter worth about $101,000. Institutional investors and hedge funds own 72.11% of the company’s stock.

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A number of analysts have recently weighed in on the stock. ValuEngine upgraded shares of Great Lakes Dredge & Dock Corporation from a “sell” rating to a “hold” rating in a report on Friday, August 4th. BidaskClub downgraded shares of Great Lakes Dredge & Dock Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th.

Shares of Great Lakes Dredge & Dock Corporation (NASDAQ GLDD) opened at $4.40 on Wednesday. Great Lakes Dredge & Dock Corporation has a fifty-two week low of $3.60 and a fifty-two week high of $5.45. The company has a current ratio of 2.02, a quick ratio of 1.74 and a debt-to-equity ratio of 1.85.

Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) last posted its earnings results on Tuesday, November 7th. The construction company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.07). Great Lakes Dredge & Dock Corporation had a negative return on equity of 3.02% and a negative net margin of 4.06%. The business had revenue of $163.31 million during the quarter, compared to the consensus estimate of $175.95 million. During the same quarter last year, the firm earned $0.08 earnings per share. The business’s quarterly revenue was down 17.9% on a year-over-year basis.

In other news, Director Robert B. Uhler purchased 5,320 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The shares were bought at an average cost of $4.73 per share, for a total transaction of $25,163.60. Following the acquisition, the director now owns 128,161 shares of the company’s stock, valued at approximately $606,201.53. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.24% of the company’s stock.

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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