12,159 Shares in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) Purchased by Walleye Capital LLC

Walleye Capital LLC acquired a new position in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 12,159 shares of the construction company’s stock, valued at approximately $137,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Barclays PLC boosted its holdings in shares of Great Lakes Dredge & Dock by 16.9% during the fourth quarter. Barclays PLC now owns 124,633 shares of the construction company’s stock worth $1,407,000 after purchasing an additional 17,991 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Great Lakes Dredge & Dock during the 4th quarter valued at $2,322,000. ELCO Management Co. LLC grew its holdings in shares of Great Lakes Dredge & Dock by 30.9% during the 4th quarter. ELCO Management Co. LLC now owns 26,782 shares of the construction company’s stock valued at $302,000 after acquiring an additional 6,325 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Great Lakes Dredge & Dock by 20.6% in the fourth quarter. Renaissance Technologies LLC now owns 278,601 shares of the construction company’s stock worth $3,145,000 after acquiring an additional 47,500 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Great Lakes Dredge & Dock by 4.9% during the fourth quarter. Legal & General Group Plc now owns 75,180 shares of the construction company’s stock worth $849,000 after acquiring an additional 3,513 shares in the last quarter. Hedge funds and other institutional investors own 89.11% of the company’s stock.

Great Lakes Dredge & Dock Stock Performance

Shares of NASDAQ GLDD opened at $9.16 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.21 and a quick ratio of 1.01. Great Lakes Dredge & Dock Co. has a one year low of $6.55 and a one year high of $12.89. The business’s 50-day moving average price is $8.57 and its two-hundred day moving average price is $10.67. The company has a market capitalization of $617.03 million, a P/E ratio of 10.90, a price-to-earnings-growth ratio of 1.06 and a beta of 1.17.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last announced its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.23 by $0.06. The business had revenue of $202.77 million during the quarter, compared to analysts’ expectations of $211.20 million. Great Lakes Dredge & Dock had a return on equity of 13.72% and a net margin of 7.51%. Analysts anticipate that Great Lakes Dredge & Dock Co. will post 0.69 earnings per share for the current fiscal year.

Great Lakes Dredge & Dock announced that its board has initiated a stock repurchase program on Friday, March 14th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the construction company to buy up to 8.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Insider Transactions at Great Lakes Dredge & Dock

In other Great Lakes Dredge & Dock news, SVP Christopher Gunsten acquired 3,875 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average cost of $7.75 per share, for a total transaction of $30,031.25. Following the completion of the acquisition, the senior vice president now owns 61,532 shares of the company’s stock, valued at approximately $476,873. This trade represents a 6.72 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.20% of the stock is currently owned by company insiders.

About Great Lakes Dredge & Dock

Great Lakes Dredge & Dock Corp. engages in the provision of dredging services. Its projects include channel and port maintenance, channel deepening and port expansion, coastal protection and restoration, as well as land reclamation. The company was founded by William A. Lydon and Frederick C. Drews in 1890 and is headquartered in Houston, TX.