Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) Shares Bought by Private Management Group Inc.

Private Management Group Inc. grew its stake in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 18.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,223,133 shares of the construction company’s stock after purchasing an additional 186,653 shares during the quarter. Private Management Group Inc. owned approximately 1.84% of Great Lakes Dredge & Dock worth $9,394,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of GLDD. Jennison Associates LLC grew its position in shares of Great Lakes Dredge & Dock by 21.0% in the third quarter. Jennison Associates LLC now owns 3,932,495 shares of the construction company’s stock valued at $31,342,000 after purchasing an additional 681,179 shares during the period. Essex Investment Management Co. LLC acquired a new stake in shares of Great Lakes Dredge & Dock in the third quarter valued at about $2,583,000. Knights of Columbus Asset Advisors LLC grew its position in shares of Great Lakes Dredge & Dock by 94.6% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 502,882 shares of the construction company’s stock valued at $3,862,000 after purchasing an additional 244,417 shares during the period. Cove Street Capital LLC grew its position in shares of Great Lakes Dredge & Dock by 22.9% in the third quarter. Cove Street Capital LLC now owns 757,875 shares of the construction company’s stock valued at $5,987,000 after purchasing an additional 141,348 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of Great Lakes Dredge & Dock by 45.2% in the third quarter. Wellington Management Group LLP now owns 439,986 shares of the construction company’s stock valued at $3,507,000 after purchasing an additional 136,901 shares during the period. Institutional investors and hedge funds own 89.11% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on GLDD shares. TheStreet upgraded shares of Great Lakes Dredge & Dock from a “d+” rating to a “c-” rating in a research report on Tuesday, February 20th. StockNews.com upgraded Great Lakes Dredge & Dock from a “sell” rating to a “hold” rating in a research report on Thursday, February 15th.

Great Lakes Dredge & Dock Trading Down 2.5 %

Shares of GLDD traded down $0.19 during midday trading on Wednesday, reaching $7.44. The company had a trading volume of 231,038 shares, compared to its average volume of 358,965. Great Lakes Dredge & Dock Co. has a 1-year low of $5.26 and a 1-year high of $9.78. The stock has a market cap of $496.55 million, a PE ratio of 36.19, a price-to-earnings-growth ratio of 1.29 and a beta of 0.96. The firm has a 50 day simple moving average of $8.49 and a 200-day simple moving average of $7.79. The company has a quick ratio of 1.07, a current ratio of 1.26 and a debt-to-equity ratio of 1.07.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last issued its 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. Great Lakes Dredge & Dock had a return on equity of 2.56% and a net margin of 2.36%. The business had revenue of $181.73 million during the quarter, compared to the consensus estimate of $190.05 million. Research analysts forecast that Great Lakes Dredge & Dock Co. will post 0.57 EPS for the current fiscal year.

About Great Lakes Dredge & Dock

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.