Hillsdale Investment Management Inc. Sells 1,900 Shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Hillsdale Investment Management Inc. lessened its holdings in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 0.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 338,300 shares of the construction company’s stock after selling 1,900 shares during the period. Hillsdale Investment Management Inc.’s holdings in Great Lakes Dredge & Dock were worth $3,735,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of GLDD. New York State Teachers Retirement System bought a new position in shares of Great Lakes Dredge & Dock in the 1st quarter worth approximately $45,000. Nkcfo LLC purchased a new stake in Great Lakes Dredge & Dock in the 2nd quarter worth approximately $52,000. Meeder Asset Management Inc. purchased a new stake in Great Lakes Dredge & Dock in the 1st quarter worth approximately $56,000. Quantamental Technologies LLC increased its holdings in Great Lakes Dredge & Dock by 45.6% in the 1st quarter. Quantamental Technologies LLC now owns 7,573 shares of the construction company’s stock worth $67,000 after acquiring an additional 2,373 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in Great Lakes Dredge & Dock by 18.2% in the 4th quarter. Legal & General Group Plc now owns 10,782 shares of the construction company’s stock worth $71,000 after acquiring an additional 1,658 shares in the last quarter. Hedge funds and other institutional investors own 81.78% of the company’s stock.

Great Lakes Dredge & Dock stock remained flat at $$10.13 during midday trading on Friday. 294,300 shares of the company traded hands, compared to its average volume of 547,768. The stock has a 50-day moving average of $10.89 and a two-hundred day moving average of $9.78. The stock has a market capitalization of $648.47 million, a P/E ratio of 28.14 and a beta of 0.62. Great Lakes Dredge & Dock Co. has a one year low of $5.25 and a one year high of $11.81. The company has a quick ratio of 1.18, a current ratio of 1.31 and a debt-to-equity ratio of 1.50.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last released its earnings results on Wednesday, July 31st. The construction company reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.06. The company had revenue of $184.81 million during the quarter, compared to analyst estimates of $181.65 million. Great Lakes Dredge & Dock had a net margin of 3.90% and a return on equity of 22.64%. The firm’s quarterly revenue was up 36.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.02 EPS. On average, equities research analysts anticipate that Great Lakes Dredge & Dock Co. will post 0.72 EPS for the current year.

In other Great Lakes Dredge & Dock news, insider David E. Simonelli sold 10,000 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $10.80, for a total transaction of $108,000.00. Following the completion of the sale, the insider now directly owns 328,239 shares of the company’s stock, valued at approximately $3,544,981.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider David E. Simonelli sold 4,059 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $10.40, for a total transaction of $42,213.60. Following the sale, the insider now directly owns 322,298 shares of the company’s stock, valued at $3,351,899.20. The disclosure for this sale can be found here. Insiders sold a total of 251,059 shares of company stock valued at $2,719,534 over the last three months. 4.66% of the stock is currently owned by insiders.

GLDD has been the subject of several analyst reports. ValuEngine lowered shares of Great Lakes Dredge & Dock from a “hold” rating to a “sell” rating in a report on Tuesday, August 6th. Noble Financial reissued a “buy” rating and issued a $12.10 target price on shares of Great Lakes Dredge & Dock in a report on Thursday, June 20th. BidaskClub raised shares of Great Lakes Dredge & Dock from a “sell” rating to a “hold” rating in a report on Wednesday, July 3rd. Finally, Zacks Investment Research raised shares of Great Lakes Dredge & Dock from a “hold” rating to a “strong-buy” rating and set a $12.00 target price for the company in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Great Lakes Dredge & Dock presently has a consensus rating of “Buy” and a consensus target price of $12.05.

About Great Lakes Dredge & Dock

Great Lakes Dredge & Dock Corporation provides dredging services in the United States and internationally. The company is involved 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.

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

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