CenterBook Partners LP Increases Stake in Great Lakes Dredge & Dock Corporation $GLDD

CenterBook Partners LP raised its position in shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) by 47.6% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 518,331 shares of the construction company’s stock after purchasing an additional 167,149 shares during the quarter. CenterBook Partners LP’s holdings in Great Lakes Dredge & Dock were worth $6,215,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Royal Bank of Canada grew its holdings in shares of Great Lakes Dredge & Dock by 9.9% during the first quarter. Royal Bank of Canada now owns 35,035 shares of the construction company’s stock valued at $305,000 after buying an additional 3,169 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Great Lakes Dredge & Dock in the 1st quarter worth $304,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Great Lakes Dredge & Dock by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,190 shares of the construction company’s stock worth $341,000 after purchasing an additional 1,653 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Great Lakes Dredge & Dock during the first quarter valued at $1,726,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Great Lakes Dredge & Dock by 1.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 246,766 shares of the construction company’s stock valued at $2,147,000 after buying an additional 3,042 shares during the last quarter. 89.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GLDD. JPMorgan Chase & Co. began coverage on shares of Great Lakes Dredge & Dock in a report on Thursday, January 22nd. They set an “overweight” rating and a $20.00 price target on the stock. CJS Securities upgraded shares of Great Lakes Dredge & Dock to a “strong-buy” rating in a research note on Thursday, December 11th. Weiss Ratings upgraded Great Lakes Dredge & Dock from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, January 21st. Noble Financial cut Great Lakes Dredge & Dock from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 12th. Finally, Texas Capital downgraded shares of Great Lakes Dredge & Dock from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.00.

Great Lakes Dredge & Dock Trading Down 0.2%

Great Lakes Dredge & Dock stock opened at $16.85 on Wednesday. Great Lakes Dredge & Dock Corporation has a 12-month low of $7.51 and a 12-month high of $16.99. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 14.28, a P/E/G ratio of 1.28 and a beta of 1.42. The firm has a 50 day moving average of $14.49 and a 200 day moving average of $12.79. The company has a current ratio of 1.20, a quick ratio of 1.06 and a debt-to-equity ratio of 0.83.

Insider Activity

In related news, SVP David Johanson sold 2,100 shares of Great Lakes Dredge & Dock stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $13.96, for a total transaction of $29,316.00. Following the transaction, the senior vice president owned 91,963 shares in the company, valued at approximately $1,283,803.48. The trade was a 2.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is currently owned by company insiders.

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.