Northern Trust Corp Has $4.64 Million Stake in Great Lakes Dredge & Dock Co. (GLDD)

Northern Trust Corp lessened its stake in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 0.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 700,783 shares of the construction company’s stock after selling 6,532 shares during the quarter. Northern Trust Corp’s holdings in Great Lakes Dredge & Dock were worth $4,640,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in GLDD. O Shaughnessy Asset Management LLC purchased a new stake in shares of Great Lakes Dredge & Dock during the 4th quarter valued at about $161,000. Raymond James & Associates increased its holdings in Great Lakes Dredge & Dock by 20.7% during the 4th quarter. Raymond James & Associates now owns 24,786 shares of the construction company’s stock worth $164,000 after purchasing an additional 4,250 shares during the last quarter. Hodges Capital Management Inc. increased its holdings in Great Lakes Dredge & Dock by 42.3% during the 4th quarter. Hodges Capital Management Inc. now owns 98,420 shares of the construction company’s stock worth $652,000 after purchasing an additional 29,280 shares during the last quarter. BlackRock Inc. increased its holdings in Great Lakes Dredge & Dock by 7.6% during the 4th quarter. BlackRock Inc. now owns 4,280,035 shares of the construction company’s stock worth $28,333,000 after purchasing an additional 303,406 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in Great Lakes Dredge & Dock during the 4th quarter worth approximately $464,000. Institutional investors and hedge funds own 76.72% of the company’s stock.

GLDD has been the topic of several analyst reports. BidaskClub upgraded Great Lakes Dredge & Dock from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 23rd. ValuEngine downgraded Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a report on Tuesday, February 12th. One equities research analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $7.88.

GLDD stock opened at $9.67 on Monday. The company has a current ratio of 1.27, a quick ratio of 1.09 and a debt-to-equity ratio of 1.50. Great Lakes Dredge & Dock Co. has a 52-week low of $4.40 and a 52-week high of $9.78. The company has a market cap of $610.98 million, a price-to-earnings ratio of 26.86 and a beta of 0.67.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last posted its quarterly earnings data on Wednesday, February 20th. The construction company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.13. Great Lakes Dredge & Dock had a positive return on equity of 6.99% and a negative net margin of 0.93%. The company had revenue of $173.20 million for the quarter, compared to the consensus estimate of $187.55 million. During the same period in the previous year, the business earned ($0.14) EPS. Great Lakes Dredge & Dock’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, equities analysts forecast that Great Lakes Dredge & Dock Co. will post 0.46 EPS for the current fiscal year.

In other news, Director Ryan Levenson sold 175,409 shares of Great Lakes Dredge & Dock stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $8.28, for a total value of $1,452,386.52. Following the completion of the transaction, the director now owns 35,816 shares in the company, valued at approximately $296,556.48. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider David E. Simonelli sold 22,500 shares of Great Lakes Dredge & Dock stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $8.19, for a total value of $184,275.00. Following the completion of the transaction, the insider now owns 324,621 shares of the company’s stock, valued at approximately $2,658,645.99. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,444,957 shares of company stock valued at $12,150,187. Insiders own 4.66% of the company’s stock.

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Great Lakes Dredge & Dock 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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