Great Lakes Dredge & Dock Corporation $GLDD Shares Sold by Castlekeep Investment Advisors LLC

Castlekeep Investment Advisors LLC reduced its stake in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) by 3.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 477,163 shares of the construction company’s stock after selling 19,249 shares during the period. Great Lakes Dredge & Dock accounts for about 2.8% of Castlekeep Investment Advisors LLC’s investment portfolio, making the stock its 8th biggest holding. Castlekeep Investment Advisors LLC owned about 0.70% of Great Lakes Dredge & Dock worth $5,817,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Strs Ohio acquired a new position in Great Lakes Dredge & Dock in the first quarter valued at approximately $45,000. Quarry LP boosted its stake in Great Lakes Dredge & Dock by 213.7% in the first quarter. Quarry LP now owns 5,503 shares of the construction company’s stock valued at $48,000 after acquiring an additional 3,749 shares during the period. R Squared Ltd acquired a new position in Great Lakes Dredge & Dock in the second quarter valued at approximately $125,000. AlphaQuest LLC boosted its stake in Great Lakes Dredge & Dock by 330.4% in the first quarter. AlphaQuest LLC now owns 12,598 shares of the construction company’s stock valued at $110,000 after acquiring an additional 9,671 shares during the period. Finally, Atria Investments Inc acquired a new position in Great Lakes Dredge & Dock during the 2nd quarter valued at about $156,000. 89.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GLDD has been the subject of a number of analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Great Lakes Dredge & Dock in a research note on Wednesday, October 8th. Zacks Research downgraded Great Lakes Dredge & Dock from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 10th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Great Lakes Dredge & Dock Stock Performance

Shares of NASDAQ GLDD opened at $11.35 on Friday. The company has a current ratio of 1.15, a quick ratio of 1.02 and a debt-to-equity ratio of 0.87. The stock has a 50 day simple moving average of $11.67 and a 200-day simple moving average of $11.25. The company has a market cap of $771.74 million, a PE ratio of 10.81, a P/E/G ratio of 0.94 and a beta of 1.37. Great Lakes Dredge & Dock Corporation has a 12-month low of $7.51 and a 12-month high of $12.89.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last issued its quarterly earnings data on Tuesday, August 5th. The construction company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.06. The business had revenue of $193.76 million during the quarter, compared to the consensus estimate of $177.70 million. Great Lakes Dredge & Dock had a return on equity of 15.61% and a net margin of 8.63%. On average, equities research analysts forecast that Great Lakes Dredge & Dock Corporation will post 0.69 EPS for the current year.

Great Lakes Dredge & Dock 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.