David E. Simonelli Sells 1,164 Shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) Stock

Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) insider David E. Simonelli sold 1,164 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $10.77, for a total transaction of $12,536.28. Following the completion of the transaction, the insider now directly owns 320,849 shares in the company, valued at $3,455,543.73. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

NASDAQ GLDD traded down $0.58 during trading on Friday, hitting $10.01. 241,672 shares of the company’s stock traded hands, compared to its average volume of 538,407. The stock has a market capitalization of $673.37 million, a price-to-earnings ratio of 27.81 and a beta of 0.60. Great Lakes Dredge & Dock Co. has a 12-month low of $5.37 and a 12-month high of $11.81. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.18 and a current ratio of 1.31. The business has a 50 day moving average of $10.67 and a 200-day moving average of $10.10.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last released its quarterly earnings data on Wednesday, July 31st. The construction company reported $0.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.06. The business had revenue of $184.81 million for the quarter, compared to the consensus estimate of $181.65 million. Great Lakes Dredge & Dock had a net margin of 3.90% and a return on equity of 22.64%. The company’s revenue was up 36.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.02 earnings per share. On average, analysts expect that Great Lakes Dredge & Dock Co. will post 0.74 EPS for the current year.

GLDD has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Great Lakes Dredge & Dock from a “hold” rating to a “strong-buy” rating and set a $12.00 price target on the stock in a report on Friday, August 2nd. BidaskClub raised shares of Great Lakes Dredge & Dock from a “hold” rating to a “buy” rating in a report on Wednesday, August 28th. Noble Financial set a $14.00 price objective on shares of Great Lakes Dredge & Dock and gave the company a “buy” rating in a report on Wednesday, August 21st. Finally, ValuEngine raised shares of Great Lakes Dredge & Dock from a “hold” rating to a “buy” rating in a report on Wednesday. Three analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $13.00.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. New York State Teachers Retirement System bought a new stake in shares of Great Lakes Dredge & Dock during the first quarter valued at about $45,000. Nkcfo LLC bought a new position in shares of Great Lakes Dredge & Dock in the second quarter worth approximately $52,000. Quantamental Technologies LLC increased its position in shares of Great Lakes Dredge & Dock by 45.6% in the first quarter. Quantamental Technologies LLC now owns 7,573 shares of the construction company’s stock worth $67,000 after purchasing an additional 2,373 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Great Lakes Dredge & Dock by 415.7% in the first quarter. BNP Paribas Arbitrage SA now owns 11,882 shares of the construction company’s stock worth $106,000 after purchasing an additional 9,578 shares during the last quarter. Finally, Hancock Whitney Corp purchased a new stake in Great Lakes Dredge & Dock in the second quarter worth approximately $125,000. 83.04% of the stock is currently owned by institutional investors and hedge funds.

About Great Lakes Dredge & Dock

Great Lakes Dredge & Dock Corporation provides dredging services in the United States and internationally. The company 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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Insider Buying and Selling by Quarter for Great Lakes Dredge & Dock (NASDAQ:GLDD)

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