Point72 Asset Management L.P. Acquires Shares of 13,968 Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Point72 Asset Management L.P. bought a new stake in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 13,968 shares of the construction company’s stock, valued at approximately $147,000.

Several other institutional investors have also recently made changes to their positions in the company. Quarry LP raised its position in Great Lakes Dredge & Dock by 68.5% in the 2nd quarter. Quarry LP now owns 3,097 shares of the construction company’s stock worth $27,000 after purchasing an additional 1,259 shares during the period. Innealta Capital LLC bought a new position in shares of Great Lakes Dredge & Dock during the second quarter valued at approximately $30,000. nVerses Capital LLC raised its holdings in shares of Great Lakes Dredge & Dock by 400.0% in the third quarter. nVerses Capital LLC now owns 3,500 shares of the construction company’s stock worth $37,000 after buying an additional 2,800 shares during the period. CWM LLC lifted its stake in shares of Great Lakes Dredge & Dock by 520.5% during the 2nd quarter. CWM LLC now owns 5,051 shares of the construction company’s stock worth $44,000 after acquiring an additional 4,237 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new position in Great Lakes Dredge & Dock during the 3rd quarter valued at $157,000. Institutional investors own 89.11% of the company’s stock.

Analyst Ratings Changes

Separately, Noble Financial increased their target price on Great Lakes Dredge & Dock from $11.00 to $14.00 and gave the stock an “outperform” rating in a research note on Monday, September 23rd.

Insider Transactions at Great Lakes Dredge & Dock

In other news, Director Kathleen M. Shanahan sold 23,238 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $12.63, for a total value of $293,495.94. Following the completion of the sale, the director now owns 67,675 shares in the company, valued at approximately $854,735.25. The trade was a 25.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.20% of the company’s stock.

Great Lakes Dredge & Dock Price Performance

Great Lakes Dredge & Dock stock opened at $11.98 on Friday. The stock has a market cap of $805.89 million, a price-to-earnings ratio of 13.77, a price-to-earnings-growth ratio of 0.48 and a beta of 1.15. The firm has a 50-day moving average of $12.11 and a two-hundred day moving average of $10.25. Great Lakes Dredge & Dock Co. has a 1 year low of $6.55 and a 1 year high of $12.89. 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 (NASDAQ:GLDD) last announced its quarterly earnings results on Tuesday, November 5th. The construction company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.05). The firm had revenue of $191.17 million during the quarter, compared to analysts’ expectations of $180.80 million. Great Lakes Dredge & Dock had a net margin of 7.97% and a return on equity of 13.35%. During the same quarter in the previous year, the firm posted ($0.09) EPS. On average, research analysts forecast that Great Lakes Dredge & Dock Co. will post 0.76 earnings per share for the current year.

Great Lakes Dredge & Dock Profile

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.