State Board of Administration of Florida Retirement System Sells 35,053 Shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

State Board of Administration of Florida Retirement System decreased its holdings in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD – Get Rating) by 42.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,635 shares of the construction company’s stock after selling 35,053 shares during the period. State Board of Administration of Florida Retirement System owned 0.07% of Great Lakes Dredge & Dock worth $277,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. grew its holdings in shares of Great Lakes Dredge & Dock by 2.8% during the 3rd quarter. BlackRock Inc. now owns 5,681,301 shares of the construction company’s stock worth $43,064,000 after acquiring an additional 154,218 shares during the period. Dimensional Fund Advisors LP boosted its stake in Great Lakes Dredge & Dock by 1.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,345,043 shares of the construction company’s stock valued at $32,937,000 after purchasing an additional 67,814 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Great Lakes Dredge & Dock by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 3,273,834 shares of the construction company’s stock valued at $24,815,000 after buying an additional 43,193 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Great Lakes Dredge & Dock by 15.8% during the 3rd quarter. Alliancebernstein L.P. now owns 3,045,810 shares of the construction company’s stock valued at $23,087,000 after buying an additional 416,574 shares during the period. Finally, State Street Corp raised its holdings in Great Lakes Dredge & Dock by 3.5% in the 2nd quarter. State Street Corp now owns 1,380,351 shares of the construction company’s stock worth $18,096,000 after purchasing an additional 47,073 shares during the period. Institutional investors own 88.13% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on Great Lakes Dredge & Dock in a report on Thursday. They issued a “sell” rating on the stock.

Insiders Place Their Bets

In other Great Lakes Dredge & Dock news, Director Ryan Levenson purchased 68,000 shares of the business’s stock in a transaction on Friday, May 12th. The stock was acquired at an average price of $6.10 per share, for a total transaction of $414,800.00. Following the purchase, the director now owns 200,100 shares of the company’s stock, valued at approximately $1,220,610. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders acquired 262,928 shares of company stock worth $1,689,832. Corporate insiders own 2.20% of the company’s stock.

Great Lakes Dredge & Dock Stock Performance

Shares of GLDD stock opened at $6.85 on Monday. Great Lakes Dredge & Dock Co. has a 52-week low of $4.74 and a 52-week high of $15.40. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.10 and a current ratio of 1.28. The firm has a market capitalization of $454.98 million, a PE ratio of -9.38 and a beta of 0.97. The stock has a fifty day simple moving average of $5.56 and a two-hundred day simple moving average of $6.15.

Great Lakes Dredge & Dock Company Profile

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Great Lakes Dredge & Dock Corp. engages in the provision of dredging services. The company was founded by William A. Lydon and Frederick C. Drews in 1890 and is headquartered in Houston, TX.