Great Lakes Dredge & Dock Co. (GLDD) Position Reduced by Hodges Capital Management Inc.

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Hodges Capital Management Inc. lessened its holdings in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 47.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 51,320 shares of the construction company’s stock after selling 47,100 shares during the quarter. Hodges Capital Management Inc. owned approximately 0.08% of Great Lakes Dredge & Dock worth $457,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Great Lakes Dredge & Dock by 116.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,691 shares of the construction company’s stock valued at $31,000 after acquiring an additional 2,528 shares in the last quarter. Quantamental Technologies LLC acquired a new position in Great Lakes Dredge & Dock in the fourth quarter valued at $34,000. Legal & General Group Plc boosted its stake in Great Lakes Dredge & Dock by 18.2% in the fourth quarter. Legal & General Group Plc now owns 10,782 shares of the construction company’s stock valued at $71,000 after acquiring an additional 1,658 shares in the last quarter. ClariVest Asset Management LLC acquired a new position in Great Lakes Dredge & Dock in the fourth quarter valued at $83,000. Finally, Metropolitan Life Insurance Co. NY boosted its stake in Great Lakes Dredge & Dock by 276.3% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 16,016 shares of the construction company’s stock valued at $106,000 after acquiring an additional 11,760 shares in the last quarter. 76.72% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider David E. Simonelli sold 11,991 shares of the stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $8.60, for a total transaction of $103,122.60. Following the completion of the sale, the insider now owns 271,944 shares in the company, valued at $2,338,718.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ryan Levenson sold 175,409 shares of the stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $8.28, for a total transaction of $1,452,386.52. Following the sale, the director now owns 35,816 shares of the company’s stock, valued at approximately $296,556.48. The disclosure for this sale can be found here. Insiders have sold 1,444,957 shares of company stock valued at $12,150,187 in the last quarter. Insiders own 4.66% of the company’s stock.

Several research firms have issued reports on GLDD. BidaskClub downgraded shares of Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. ValuEngine downgraded shares of Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research note on Tuesday, February 12th. One investment analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $7.88.

NASDAQ GLDD opened at $9.56 on Wednesday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.27 and a quick ratio of 1.09. Great Lakes Dredge & Dock Co. has a 1 year low of $4.40 and a 1 year high of $9.78. The firm has a market capitalization of $604.66 million, a price-to-earnings ratio of 26.56 and a beta of 0.67.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last released its quarterly earnings data on Wednesday, February 20th. The construction company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.13. Great Lakes Dredge & Dock had a negative net margin of 0.93% and a positive return on equity of 6.99%. The company had revenue of $173.20 million during the quarter, compared to the consensus estimate of $187.55 million. During the same quarter in the prior year, the firm posted ($0.14) earnings per share. Great Lakes Dredge & Dock’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, sell-side analysts anticipate that Great Lakes Dredge & Dock Co. will post 0.46 EPS for the current fiscal year.

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Great Lakes Dredge & Dock Company Profile

Great Lakes Dredge & Dock Corporation provides dredging services in the United States and internationally. It operates through two segments, Dredging, and Environmental & Infrastructure. The Dredging segment is involved 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.

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Institutional Ownership by Quarter for Great Lakes Dredge & Dock (NASDAQ:GLDD)

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