Posted on February 13, 2023
The most recent filing that Cullen Capital Management LLC made with the Securities and Exchange Commission (SEC) indicates that the investment firm increased its stake in Great Lakes Dredge & Dock Co (NASDAQ: GLDD) during the third quarter of this year.
The fund spent a total of 741 thousand dollars to acquire 97,750 shares of stock in the construction company. Cullen Capital Management LLC owned approximately 0.15 percent of Great Lakes Dredge & Dock shares at the end of the most recent quarter.
Recent months have seen several other institutional investors and hedge funds change the stock holdings contained within their respective investment portfolios. Great Lakes Dredge & Dock was included in the investment portfolio that Lazard Asset Management LLC managed after an investment of approximately $56,000 during the first quarter. Gitterman Wealth Management LLC increased the proportion of shares in Great Lakes Dredge & Dock that it held by 12.3% during the second quarter. Gitterman Wealth Management LLC has increased its construction company ownership by purchasing an additional 1,394 shares since the beginning of the last two months.
This brings the total number of shares owned by the firm to 12,685, with an estimated value of $169,000.
In the third quarter, Russell Investments Group Ltd bought a new position in Great Lakes Dredge & Dock that was approximately $118,000 in value. Natixis Advisors L.P.
Increased the proportion of ownership it held in Great Lakes Dredge & Dock by 15.0% over the second quarter. Natixis Advisors L.P. now owns 17,750 shares of the construction company’s stock after purchasing an additional 2,315 shares throughout the quarter.
The value of Natixis Advisors L.P.’s current holdings in the company’s stock is $233,000.
Last but not least, during the second quarter, Mirae Asset Global Investments Co Ltd purchased approximately $259,000 worth of shares of Great Lakes Dredge & Dock.
Institutional investors and hedge funds currently own 88.13 percent of the company’s stock between them.
Several equity research professionals have expressed their thoughts on the GLDD stock.
Great Lakes Dredge & Dock stock prices were given a rating of “d-” by TheStreet in a research report published on November 2.
This rating was a downgrade from the previous rating of “C” that the company had received. StockNews.com previously gave Great Lakes Dredge & Dock a “hold” rating, but that was changed to a “sell” rating in a report published on November 3.
GLDD began trading on Friday at $6.55.
The company’s market capitalization is currently valued at $433.41 million, its price-to-earnings ratio is 19.91, and its beta value is currently 0.95. Great Lakes Dredge & Dock Co has had price points as low as $5.41 and as high as $15.40 over the past year, with a low of $5.41 and a high of $15.40, respectively.
The moving average for the stock over the past 50 days is currently sitting at $6.47, and the moving average for the past 200 days is currently at $7.93.
There is a ratio of 0.81 debt to equity, 1.40 quick assets to current assets, and 1.58 current assets to total assets.
A company named Great Lakes Dredge & Dock Corp. offers dredging services.
It is in charge of managing a diverse fleet of vessels in the U.S.
Dredging industry.
The company was established in 1890 by William A.
Lydon and Frederick C.
Drews, and its current headquarters can be found in the city of Houston, which is located in the state of Texas.
