IQ EQ FUND MANAGEMENT IRELAND Ltd Sells 89,487 Shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

IQ EQ FUND MANAGEMENT IRELAND Ltd cut its position in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 69.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 39,859 shares of the construction company’s stock after selling 89,487 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Great Lakes Dredge & Dock were worth $450,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in Great Lakes Dredge & Dock by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 3,877,588 shares of the construction company’s stock valued at $43,778,000 after buying an additional 27,610 shares during the last quarter. Harvey Partners LLC grew its stake in Great Lakes Dredge & Dock by 9.8% in the third quarter. Harvey Partners LLC now owns 3,647,500 shares of the construction company’s stock valued at $38,408,000 after purchasing an additional 325,500 shares in the last quarter. TCW Group Inc. increased its position in shares of Great Lakes Dredge & Dock by 5.0% during the 3rd quarter. TCW Group Inc. now owns 2,095,834 shares of the construction company’s stock worth $22,069,000 after purchasing an additional 99,696 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Great Lakes Dredge & Dock by 40.7% during the 4th quarter. American Century Companies Inc. now owns 1,615,591 shares of the construction company’s stock worth $18,240,000 after purchasing an additional 467,164 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Great Lakes Dredge & Dock by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,561,897 shares of the construction company’s stock valued at $16,450,000 after buying an additional 22,166 shares during the last quarter. Institutional investors and hedge funds own 89.11% of the company’s stock.

Insider Buying and Selling at Great Lakes Dredge & Dock

In other Great Lakes Dredge & Dock news, SVP Christopher Gunsten bought 3,875 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average cost of $7.75 per share, with a total value of $30,031.25. Following the acquisition, the senior vice president now owns 61,532 shares of the company’s stock, valued at $476,873. The trade was a 6.72 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.20% of the company’s stock.

Great Lakes Dredge & Dock Price Performance

Shares of GLDD opened at $8.84 on Friday. 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 company’s fifty day simple moving average is $9.71 and its 200 day simple moving average is $10.95. 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 market cap of $594.78 million, a price-to-earnings ratio of 10.52, a PEG ratio of 1.06 and a beta of 1.21.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last released its quarterly earnings data on Tuesday, February 18th. The construction company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.06. Great Lakes Dredge & Dock had a net margin of 7.51% and a return on equity of 13.72%. The company had revenue of $202.77 million for the quarter, compared to analyst estimates of $211.20 million. On average, research analysts forecast that Great Lakes Dredge & Dock Co. will post 0.69 earnings per share for the current fiscal year.

Great Lakes Dredge & Dock declared that its board has approved a share buyback program on Friday, March 14th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the construction company to purchase up to 8.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Great Lakes Dredge & Dock Profile

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.