Jennison Associates LLC Boosts Holdings in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Jennison Associates LLC grew its holdings in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 9.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,299,418 shares of the construction company’s stock after acquiring an additional 366,923 shares during the quarter. Jennison Associates LLC owned 6.45% of Great Lakes Dredge & Dock worth $33,020,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Group One Trading L.P. purchased a new position in shares of Great Lakes Dredge & Dock during the third quarter worth approximately $30,000. Bfsg LLC purchased a new position in shares of Great Lakes Dredge & Dock in the third quarter worth $88,000. Mackenzie Financial Corp purchased a new position in shares of Great Lakes Dredge & Dock in the third quarter worth $83,000. AXQ Capital LP purchased a new position in shares of Great Lakes Dredge & Dock in the third quarter worth $92,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Great Lakes Dredge & Dock by 23.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,955 shares of the construction company’s stock worth $123,000 after buying an additional 3,011 shares during the period. 89.11% of the stock is owned by hedge funds and other institutional investors.

Great Lakes Dredge & Dock Stock Performance

Shares of Great Lakes Dredge & Dock stock opened at $7.44 on Thursday. The stock has a market cap of $496.55 million, a price-to-earnings ratio of 35.43, a PEG ratio of 1.29 and a beta of 0.96. The firm’s 50-day moving average is $8.45 and its 200 day moving average is $7.79. Great Lakes Dredge & Dock Co. has a 1 year low of $5.26 and a 1 year high of $9.78. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.26 and a quick ratio of 1.07.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last announced its quarterly earnings results on Wednesday, February 14th. The construction company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.16. The company had revenue of $181.73 million for the quarter, compared to analysts’ expectations of $190.05 million. Great Lakes Dredge & Dock had a net margin of 2.36% and a return on equity of 2.56%. Sell-side analysts anticipate that Great Lakes Dredge & Dock Co. will post 0.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GLDD has been the topic of a number of research reports. TheStreet upgraded shares of Great Lakes Dredge & Dock from a “d+” rating to a “c-” rating in a report on Tuesday, February 20th. StockNews.com upgraded shares of Great Lakes Dredge & Dock from a “sell” rating to a “hold” rating in a report on Thursday, February 15th.

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.