Semanteon Capital Management LP Purchases New Shares in Great Lakes Dredge & Dock Corporation $GLDD

Semanteon Capital Management LP acquired a new stake in shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) during the third quarter, HoldingsChannel reports. The fund acquired 47,420 shares of the construction company’s stock, valued at approximately $569,000. Great Lakes Dredge & Dock accounts for 0.7% of Semanteon Capital Management LP’s holdings, making the stock its 28th biggest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of GLDD. State of Alaska Department of Revenue purchased a new position in shares of Great Lakes Dredge & Dock during the 3rd quarter worth approximately $46,000. Federated Hermes Inc. increased its stake in shares of Great Lakes Dredge & Dock by 43.5% during the second quarter. Federated Hermes Inc. now owns 4,965 shares of the construction company’s stock valued at $61,000 after purchasing an additional 1,505 shares in the last quarter. Strs Ohio purchased a new position in shares of Great Lakes Dredge & Dock during the first quarter valued at approximately $45,000. CWM LLC lifted its holdings in shares of Great Lakes Dredge & Dock by 125.0% during the third quarter. CWM LLC now owns 6,995 shares of the construction company’s stock valued at $84,000 after purchasing an additional 3,886 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Great Lakes Dredge & Dock by 5,519.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 9,160 shares of the construction company’s stock worth $112,000 after purchasing an additional 8,997 shares in the last quarter. 89.11% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Great Lakes Dredge & Dock

In related news, SVP David Johanson sold 10,000 shares of Great Lakes Dredge & Dock stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $13.02, for a total value of $130,200.00. Following the completion of the sale, the senior vice president owned 94,063 shares of the company’s stock, valued at $1,224,700.26. The trade was a 9.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. CJS Securities raised Great Lakes Dredge & Dock to a “strong-buy” rating in a research report on Thursday, December 11th. Noble Financial downgraded Great Lakes Dredge & Dock from an “outperform” rating to a “market perform” rating in a report on Thursday, February 12th. Weiss Ratings raised Great Lakes Dredge & Dock from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, January 21st. Wall Street Zen lowered Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research report on Saturday, January 24th. Finally, JPMorgan Chase & Co. began coverage on shares of Great Lakes Dredge & Dock in a research note on Thursday, January 22nd. They issued an “overweight” rating and a $20.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $20.00.

Great Lakes Dredge & Dock Stock Up 0.1%

Great Lakes Dredge & Dock stock opened at $16.89 on Friday. Great Lakes Dredge & Dock Corporation has a 12 month low of $7.51 and a 12 month high of $16.99. The stock has a fifty day simple moving average of $14.67 and a two-hundred day simple moving average of $12.90. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 14.31, a PEG ratio of 1.28 and a beta of 1.42. The company has a current ratio of 1.20, a quick ratio of 1.06 and a debt-to-equity ratio of 0.83.

Great Lakes Dredge & Dock Profile

Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) is a leading provider of dredging and maritime construction services in the United States. The company specializes in the excavation and removal of sediment from waterways, harbors, ports and coastal areas to maintain navigability and support commercial shipping. Its operations encompass both maintenance dredging—removing accumulated material to restore channel depth—and new work projects such as land reclamation and harbor deepening.

In addition to traditional dredging, Great Lakes Dredge & Dock offers a range of complementary marine construction services.