State of New Jersey Common Pension Fund D Makes New Investment in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

State of New Jersey Common Pension Fund D bought a new stake in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD – Get Rating) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 237,417 shares of the construction company’s stock, valued at approximately $1,800,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. TCW Group Inc. increased its position in shares of Great Lakes Dredge & Dock by 30.3% in the 3rd quarter. TCW Group Inc. now owns 1,537,438 shares of the construction company’s stock valued at $11,654,000 after buying an additional 357,900 shares in the last quarter. Gitterman Wealth Management LLC increased its position in shares of Great Lakes Dredge & Dock by 11.5% in the 3rd quarter. Gitterman Wealth Management LLC now owns 14,145 shares of the construction company’s stock valued at $106,000 after buying an additional 1,460 shares in the last quarter. Versor Investments LP increased its position in shares of Great Lakes Dredge & Dock by 73.4% in the 3rd quarter. Versor Investments LP now owns 35,900 shares of the construction company’s stock valued at $272,000 after buying an additional 15,200 shares in the last quarter. Foundry Partners LLC increased its position in shares of Great Lakes Dredge & Dock by 1.2% in the 3rd quarter. Foundry Partners LLC now owns 339,870 shares of the construction company’s stock valued at $2,576,000 after buying an additional 4,095 shares in the last quarter. Finally, Oppenheimer & Close LLC bought a new stake in shares of Great Lakes Dredge & Dock in the 3rd quarter valued at $1,012,000. Institutional investors own 88.13% of the company’s stock.

Great Lakes Dredge & Dock Price Performance

GLDD stock opened at $6.70 on Friday. The stock has a 50-day moving average price of $6.54 and a two-hundred day moving average price of $8.41. The stock has a market cap of $443.34 million, a PE ratio of 20.30 and a beta of 0.87. The company has a current ratio of 1.58, a quick ratio of 1.40 and a debt-to-equity ratio of 0.81. Great Lakes Dredge & Dock Co. has a 1 year low of $5.41 and a 1 year high of $15.40.

Great Lakes Dredge & Dock (NASDAQ:GLDD – Get Rating) last posted its quarterly earnings data on Tuesday, November 1st. The construction company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.23). Great Lakes Dredge & Dock had a return on equity of 5.38% and a net margin of 3.06%. The business had revenue of $158.35 million for the quarter, compared to analyst estimates of $164.00 million.

Analysts Set New Price Targets

GLDD has been the subject of a number of recent analyst reports. StockNews.com cut shares of Great Lakes Dredge & Dock from a “hold” rating to a “sell” rating in a research report on Thursday, November 3rd. TheStreet cut Great Lakes Dredge & Dock from a “c” rating to a “d+” rating in a report on Wednesday, November 2nd.

Great Lakes Dredge & Dock Profile

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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.