Bfsg LLC Grows Stock Holdings in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Bfsg LLC increased its holdings in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 1,465.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 185,035 shares of the construction company’s stock after purchasing an additional 173,215 shares during the period. Bfsg LLC owned approximately 0.28% of Great Lakes Dredge & Dock worth $1,948,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Quarry LP grew its stake in shares of Great Lakes Dredge & Dock by 68.5% during the 2nd quarter. Quarry LP now owns 3,097 shares of the construction company’s stock worth $27,000 after purchasing an additional 1,259 shares during the period. Innealta Capital LLC purchased a new stake in Great Lakes Dredge & Dock during the second quarter worth $30,000. CWM LLC grew its position in Great Lakes Dredge & Dock by 520.5% during the second quarter. CWM LLC now owns 5,051 shares of the construction company’s stock valued at $44,000 after buying an additional 4,237 shares during the period. ARS Investment Partners LLC increased its holdings in Great Lakes Dredge & Dock by 11.0% in the second quarter. ARS Investment Partners LLC now owns 12,150 shares of the construction company’s stock valued at $107,000 after buying an additional 1,200 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new position in shares of Great Lakes Dredge & Dock in the fourth quarter worth about $113,000. 89.11% of the stock is currently owned by institutional investors and hedge funds.

Great Lakes Dredge & Dock Stock Up 0.3 %

Shares of NASDAQ GLDD opened at $12.01 on Friday. The firm has a market cap of $804.78 million, a price-to-earnings ratio of 21.07, a price-to-earnings-growth ratio of 0.41 and a beta of 1.15. The company’s 50-day simple moving average is $10.12 and its 200-day simple moving average is $9.15. The company has a quick ratio of 1.13, a current ratio of 1.32 and a debt-to-equity ratio of 0.98. Great Lakes Dredge & Dock Co. has a 52-week low of $6.11 and a 52-week high of $12.09.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last released its earnings results on Tuesday, August 6th. The construction company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.08. The business had revenue of $170.09 million during the quarter, compared to analyst estimates of $165.00 million. Great Lakes Dredge & Dock had a net margin of 6.61% and a return on equity of 10.05%. During the same quarter in the prior year, the firm earned $0.03 earnings per share. Equities analysts predict that Great Lakes Dredge & Dock Co. will post 0.8 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Lasse Petterson sold 28,709 shares of Great Lakes Dredge & Dock stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $9.24, for a total transaction of $265,271.16. Following the transaction, the chief executive officer now owns 902,392 shares in the company, valued at approximately $8,338,102.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold 128,990 shares of company stock valued at $1,174,747 in the last ninety days. 2.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GLDD. StockNews.com lowered Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research note on Thursday, August 15th. Noble Financial boosted their price objective on Great Lakes Dredge & Dock from $11.00 to $14.00 and gave the company an “outperform” rating in a research report on Monday, September 23rd.

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.