Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) SVP Sells $231,660.54 in Stock

Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) SVP Eleni Beyko sold 22,579 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $10.26, for a total transaction of $231,660.54. Following the sale, the senior vice president now owns 50,138 shares of the company’s stock, valued at $514,415.88. This trade represents a 31.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Great Lakes Dredge & Dock Stock Up 2.0 %

Great Lakes Dredge & Dock stock opened at $10.79 on Friday. The stock has a market capitalization of $726.83 million, a price-to-earnings ratio of 12.85, a PEG ratio of 1.06 and a beta of 1.23. The company has a current ratio of 1.21, a quick ratio of 1.01 and a debt-to-equity ratio of 0.97. The stock has a 50 day moving average of $8.85 and a two-hundred day moving average of $10.52. Great Lakes Dredge & Dock Co. has a twelve month low of $7.51 and a twelve month high of $12.89.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last announced its quarterly earnings data on Tuesday, May 6th. The construction company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.24. Great Lakes Dredge & Dock had a net margin of 7.51% and a return on equity of 13.72%. The company had revenue of $242.87 million for the quarter, compared to analysts’ expectations of $206.70 million. As a group, research analysts expect that Great Lakes Dredge & Dock Co. will post 0.69 earnings per share for the current year.

Great Lakes Dredge & Dock declared that its Board of Directors has initiated a share repurchase program on Friday, March 14th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the construction company to repurchase up to 8.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its stock is undervalued.

Institutional Trading of Great Lakes Dredge & Dock

Several hedge funds have recently modified their holdings of the business. AlphaQuest LLC purchased a new position in Great Lakes Dredge & Dock in the fourth quarter worth $33,000. Byrne Asset Management LLC purchased a new position in shares of Great Lakes Dredge & Dock in the 1st quarter valued at about $40,000. Federated Hermes Inc. lifted its stake in shares of Great Lakes Dredge & Dock by 878.9% in the fourth quarter. Federated Hermes Inc. now owns 5,619 shares of the construction company’s stock valued at $63,000 after purchasing an additional 5,045 shares during the period. R Squared Ltd purchased a new stake in Great Lakes Dredge & Dock during the fourth quarter worth about $69,000. Finally, Lazard Asset Management LLC acquired a new position in Great Lakes Dredge & Dock during the fourth quarter worth about $118,000. 89.11% of the stock is owned by institutional investors and hedge funds.

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.