State of New Jersey Common Pension Fund D Acquires Shares of 197,400 Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

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State of New Jersey Common Pension Fund D acquired a new stake in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 197,400 shares of the construction company’s stock, valued at approximately $2,063,000. State of New Jersey Common Pension Fund D owned approximately 0.31% of Great Lakes Dredge & Dock at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GLDD. Nkcfo LLC purchased a new stake in shares of Great Lakes Dredge & Dock in the second quarter valued at about $52,000. Canton Hathaway LLC raised its holdings in shares of Great Lakes Dredge & Dock by 50.0% in the third quarter. Canton Hathaway LLC now owns 5,220 shares of the construction company’s stock valued at $55,000 after buying an additional 1,740 shares during the last quarter. Hancock Whitney Corp purchased a new stake in shares of Great Lakes Dredge & Dock in the second quarter valued at about $125,000. One Wealth Advisors LLC purchased a new stake in shares of Great Lakes Dredge & Dock in the second quarter valued at about $139,000. Finally, Convergence Investment Partners LLC purchased a new stake in shares of Great Lakes Dredge & Dock in the second quarter valued at about $174,000. Institutional investors own 87.05% of the company’s stock.

A number of equities research analysts have recently commented on GLDD shares. ValuEngine raised shares of Great Lakes Dredge & Dock from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Noble Financial reaffirmed a “buy” rating and issued a $13.80 target price on shares of Great Lakes Dredge & Dock in a report on Sunday, October 6th. Zacks Investment Research cut shares of Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating and set a $12.00 target price for the company. in a report on Thursday, October 31st. Finally, BidaskClub cut shares of Great Lakes Dredge & Dock from a “hold” rating to a “sell” rating in a report on Saturday.

In other news, Director Ryan Levenson sold 21,905 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $10.14, for a total value of $222,116.70. Following the sale, the director now directly owns 35,816 shares in the company, valued at $363,174.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David E. Simonelli sold 3,809 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $10.90, for a total transaction of $41,518.10. Following the completion of the sale, the insider now owns 322,048 shares in the company, valued at $3,510,323.20. The disclosure for this sale can be found here. Insiders sold 30,261 shares of company stock worth $313,384 over the last quarter. Company insiders own 4.66% of the company’s stock.

NASDAQ GLDD opened at $9.49 on Friday. The firm has a 50-day moving average price of $10.42 and a 200 day moving average price of $10.59. The stock has a market capitalization of $638.90 million, a P/E ratio of 26.36 and a beta of 0.51. Great Lakes Dredge & Dock Co. has a 52-week low of $6.09 and a 52-week high of $11.81. The company has a quick ratio of 1.18, a current ratio of 1.31 and a debt-to-equity ratio of 1.50.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last released its quarterly earnings results on Tuesday, November 5th. The construction company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. The business had revenue of $169.80 million for the quarter, compared to analyst estimates of $178.50 million. Great Lakes Dredge & Dock had a net margin of 3.56% and a return on equity of 21.15%. The company’s quarterly revenue was down 5.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.18 earnings per share. On average, equities research analysts expect that Great Lakes Dredge & Dock Co. will post 0.74 earnings per share for the current fiscal year.

Great Lakes Dredge & Dock Company Profile

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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Institutional Ownership by Quarter for Great Lakes Dredge & Dock (NASDAQ:GLDD)

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