Posted on August 8, 2022
Great Lakes Dredge & Dock Co. (NASDAQ:GLDD – Get Rating) CEO Lasse Petterson bought 10,000 shares of the firm’s stock in a transaction dated Friday, August 5th. The stock was acquired at an average cost of $9.65 per share, with a total value of $96,500.00. Following the transaction, the chief executive officer now owns 1,003,630 shares of the company’s stock, valued at $9,685,029.50. The purchase was disclosed in a filing with the SEC, which is available at this link.
Great Lakes Dredge & Dock Price Performance
Shares of GLDD traded up $0.15 on Friday, hitting $9.82. The company’s stock had a trading volume of 418,059 shares, compared to its average volume of 238,955. The company has a market capitalization of $648.76 million, a PE ratio of 14.01 and a beta of 0.70. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.00 and a quick ratio of 1.96. Great Lakes Dredge & Dock Co. has a fifty-two week low of $9.39 and a fifty-two week high of $16.27. The company has a 50 day moving average price of $13.09 and a 200 day moving average price of $13.81.
Great Lakes Dredge & Dock (NASDAQ:GLDD – Get Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The construction company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.23). Great Lakes Dredge & Dock had a return on equity of 11.38% and a net margin of 6.30%. During the same quarter in the prior year, the firm posted $0.03 earnings per share. On average, research analysts anticipate that Great Lakes Dredge & Dock Co. will post 0.91 earnings per share for the current fiscal year.
Institutional Trading of Great Lakes Dredge & Dock
A number of large investors have recently made changes to their positions in the company. Jennison Associates LLC boosted its stake in Great Lakes Dredge & Dock by 1.4% in the 1st quarter. Jennison Associates LLC now owns 5,264,455 shares of the construction company’s stock worth $73,860,000 after purchasing an additional 72,769 shares during the period. Vanguard Group Inc. raised its holdings in Great Lakes Dredge & Dock by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 3,213,922 shares of the construction company’s stock valued at $45,092,000 after acquiring an additional 61,518 shares during the period. William Blair Investment Management LLC raised its holdings in Great Lakes Dredge & Dock by 9.6% in the 1st quarter. William Blair Investment Management LLC now owns 2,847,114 shares of the construction company’s stock valued at $39,945,000 after acquiring an additional 249,846 shares during the period. Alliancebernstein L.P. raised its holdings in Great Lakes Dredge & Dock by 25.6% in the 4th quarter. Alliancebernstein L.P. now owns 2,697,719 shares of the construction company’s stock valued at $42,408,000 after acquiring an additional 549,127 shares during the period. Finally, State Street Corp increased its holdings in shares of Great Lakes Dredge & Dock by 3.4% during the first quarter. State Street Corp now owns 1,333,278 shares of the construction company’s stock worth $18,706,000 after purchasing an additional 43,324 shares during the period. Institutional investors own 96.18% of the company’s stock.
Wall Street Analyst Weigh In
GLDD has been the subject of a number of research reports. TheStreet cut Great Lakes Dredge & Dock from a “b-” rating to a “c” rating in a research report on Wednesday. StockNews.com lowered Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research note on Wednesday.
Great Lakes Dredge & Dock Company Profile (Get Rating)
Great Lakes Dredge & Dock Corporation provides dredging services in the United States. The company engages 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.
