Kathleen M. Shanahan Sells 23,238 Shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) Stock

Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) Director Kathleen M. Shanahan sold 23,238 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $12.63, for a total value of $293,495.94. Following the sale, the director now owns 67,675 shares in the company, valued at approximately $854,735.25. This trade represents a 25.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Great Lakes Dredge & Dock Trading Up 0.7 %

NASDAQ GLDD opened at $12.13 on Friday. The company has a 50 day moving average price of $11.14 and a 200 day moving average price of $9.70. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.97. Great Lakes Dredge & Dock Co. has a 52 week low of $6.34 and a 52 week high of $12.83. The firm has a market cap of $815.99 million, a PE ratio of 13.78, a price-to-earnings-growth ratio of 0.47 and a beta of 1.13.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last issued its quarterly earnings results on Tuesday, November 5th. The construction company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.05). The company had revenue of $191.17 million for the quarter, compared to analyst estimates of $180.80 million. Great Lakes Dredge & Dock had a net margin of 7.97% and a return on equity of 13.35%. During the same quarter in the previous year, the company posted ($0.09) EPS. As a group, sell-side analysts forecast that Great Lakes Dredge & Dock Co. will post 0.76 EPS for the current fiscal year.

Institutional Investors Weigh In On Great Lakes Dredge & Dock

Hedge funds have recently bought and sold shares of the stock. Jennison Associates LLC boosted its stake in shares of Great Lakes Dredge & Dock by 1.9% during the 3rd quarter. Jennison Associates LLC now owns 4,333,438 shares of the construction company’s stock worth $45,631,000 after acquiring an additional 79,087 shares in the last quarter. Vanguard Group Inc. boosted its position in Great Lakes Dredge & Dock by 1.4% during the first quarter. Vanguard Group Inc. now owns 3,413,673 shares of the construction company’s stock worth $29,870,000 after purchasing an additional 48,760 shares in the last quarter. TCW Group Inc. increased its position in shares of Great Lakes Dredge & Dock by 2.0% in the second quarter. TCW Group Inc. now owns 1,996,138 shares of the construction company’s stock valued at $17,526,000 after buying an additional 38,200 shares in the last quarter. Minerva Advisors LLC raised its stake in shares of Great Lakes Dredge & Dock by 1.5% during the 3rd quarter. Minerva Advisors LLC now owns 1,341,807 shares of the construction company’s stock worth $14,116,000 after buying an additional 19,470 shares during the period. Finally, Private Management Group Inc. lifted its position in shares of Great Lakes Dredge & Dock by 2.9% during the 2nd quarter. Private Management Group Inc. now owns 1,253,165 shares of the construction company’s stock valued at $11,003,000 after buying an additional 35,077 shares in the last quarter. Hedge funds and other institutional investors own 89.11% of the company’s stock.

Analysts Set New Price Targets

GLDD has been the topic of several analyst reports. Noble Financial upped their price target on shares of Great Lakes Dredge & Dock from $11.00 to $14.00 and gave the company an “outperform” rating in a report on Monday, September 23rd. StockNews.com lowered Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research note on Thursday, August 15th.

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.