Dimensional Fund Advisors LP Sells 913,740 Shares of Great Lakes Dredge & Dock Corporation $GLDD

Dimensional Fund Advisors LP reduced its position in shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) by 21.2% in the first quarter, Holdings Channel reports. The firm owned 3,386,372 shares of the construction company’s stock after selling 913,740 shares during the period. Dimensional Fund Advisors LP owned about 0.05% of Great Lakes Dredge & Dock worth $57,569,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GLDD. Parallel Advisors LLC raised its position in shares of Great Lakes Dredge & Dock by 39.0% in the first quarter. Parallel Advisors LLC now owns 2,304 shares of the construction company’s stock worth $39,000 after buying an additional 647 shares in the last quarter. Principal Financial Group Inc. grew its position in Great Lakes Dredge & Dock by 6.7% during the first quarter. Principal Financial Group Inc. now owns 84,439 shares of the construction company’s stock worth $1,435,000 after buying an additional 5,290 shares in the last quarter. Credit Industriel ET Commercial bought a new position in Great Lakes Dredge & Dock in the 1st quarter worth about $1,177,000. Bogart Wealth LLC bought a new position in Great Lakes Dredge & Dock in the 1st quarter worth about $51,000. Finally, State of Tennessee Department of Treasury purchased a new stake in shares of Great Lakes Dredge & Dock in the 4th quarter valued at about $177,000. Institutional investors own 89.11% of the company’s stock.

Great Lakes Dredge & Dock Stock Performance

Great Lakes Dredge & Dock stock opened at $17.00 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.01 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $1.14 billion, a PE ratio of 15.89, a P/E/G ratio of 1.26 and a beta of 1.38. The firm has a fifty day simple moving average of $15.47 and a two-hundred day simple moving average of $16.15. Great Lakes Dredge & Dock Corporation has a twelve month low of $8.80 and a twelve month high of $17.02.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Great Lakes Dredge & Dock to a “strong-buy” rating in a research report on Saturday, April 4th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $17.00.

Great Lakes Dredge & Dock Company Profile

Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) is a leading provider of dredging and maritime construction services in the United States. The company specializes in the excavation and removal of sediment from waterways, harbors, ports and coastal areas to maintain navigability and support commercial shipping. Its operations encompass both maintenance dredging—removing accumulated material to restore channel depth—and new work projects such as land reclamation and harbor deepening.

In addition to traditional dredging, Great Lakes Dredge & Dock offers a range of complementary marine construction services.