Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) Shares Sold by Marshall Wace LLP

Marshall Wace LLP reduced its position in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 64.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 92,197 shares of the construction company’s stock after selling 165,940 shares during the period. Marshall Wace LLP owned about 0.14% of Great Lakes Dredge & Dock worth $1,041,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Great Lakes Dredge & Dock by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 3,877,588 shares of the construction company’s stock valued at $43,778,000 after purchasing an additional 27,610 shares during the period. American Century Companies Inc. boosted its stake in Great Lakes Dredge & Dock by 40.7% during the 4th quarter. American Century Companies Inc. now owns 1,615,591 shares of the construction company’s stock valued at $18,240,000 after purchasing an additional 467,164 shares during the period. JPMorgan Chase & Co. boosted its stake in Great Lakes Dredge & Dock by 259.6% during the 4th quarter. JPMorgan Chase & Co. now owns 820,397 shares of the construction company’s stock valued at $9,262,000 after purchasing an additional 592,276 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Great Lakes Dredge & Dock by 681.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 318,600 shares of the construction company’s stock valued at $3,597,000 after purchasing an additional 277,848 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in Great Lakes Dredge & Dock by 20.6% during the 4th quarter. Renaissance Technologies LLC now owns 278,601 shares of the construction company’s stock valued at $3,145,000 after purchasing an additional 47,500 shares during the period. Institutional investors and hedge funds own 89.11% of the company’s stock.

Insider Transactions at Great Lakes Dredge & Dock

In related news, SVP Christopher Gunsten purchased 3,875 shares of Great Lakes Dredge & Dock stock in a transaction dated Tuesday, March 4th. The stock was bought at an average cost of $7.75 per share, with a total value of $30,031.25. Following the purchase, the senior vice president now owns 61,532 shares in the company, valued at approximately $476,873. The trade was a 6.72 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.20% of the company’s stock.

Great Lakes Dredge & Dock Trading Up 1.1 %

Shares of NASDAQ:GLDD opened at $9.14 on Wednesday. The company has a 50 day moving average of $8.59 and a 200-day moving average of $10.63. The firm has a market cap of $615.68 million, a P/E ratio of 10.88, a P/E/G ratio of 1.06 and a beta of 1.17. Great Lakes Dredge & Dock Co. has a twelve month low of $6.55 and a twelve month high of $12.89. The company has a current ratio of 1.21, a quick ratio of 1.01 and a debt-to-equity ratio of 0.97.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last issued its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.06. The company had revenue of $202.77 million during the quarter, compared to analyst estimates of $211.20 million. Great Lakes Dredge & Dock had a net margin of 7.51% and a return on equity of 13.72%. As a group, analysts anticipate that Great Lakes Dredge & Dock Co. will post 0.69 earnings per share for the current fiscal year.

Great Lakes Dredge & Dock announced that its Board of Directors has authorized a share buyback program on Friday, March 14th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the construction company to purchase up to 8.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Great Lakes Dredge & Dock Company Profile

Great Lakes Dredge & Dock Corp. engages in the provision of dredging services. Its projects include channel and port maintenance, channel deepening and port expansion, coastal protection and restoration, as well as land reclamation. The company was founded by William A. Lydon and Frederick C. Drews in 1890 and is headquartered in Houston, TX.