Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) Insider David E. Simonelli Sells 4,000 Shares

Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) insider David E. Simonelli sold 4,000 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $10.90, for a total transaction of $43,600.00. Following the completion of the sale, the insider now owns 322,239 shares of the company’s stock, valued at approximately $3,512,405.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Shares of Great Lakes Dredge & Dock stock traded down $0.26 on Friday, reaching $10.38. The stock had a trading volume of 466,556 shares, compared to its average volume of 517,541. The company has a quick ratio of 1.13, a current ratio of 1.27 and a debt-to-equity ratio of 1.58. Great Lakes Dredge & Dock Co. has a 1 year low of $4.85 and a 1 year high of $11.45. The company has a market cap of $680.57 million, a P/E ratio of 28.83 and a beta of 0.67.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last issued its quarterly earnings data on Tuesday, April 30th. The construction company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.25. Great Lakes Dredge & Dock had a net margin of 2.80% and a return on equity of 18.05%. The firm had revenue of $192.60 million for the quarter, compared to the consensus estimate of $180.20 million. During the same quarter in the previous year, the firm earned ($0.15) EPS. The company’s quarterly revenue was up 44.2% compared to the same quarter last year. As a group, equities research analysts forecast that Great Lakes Dredge & Dock Co. will post 0.68 EPS for the current fiscal year.

A number of research analysts have recently issued reports on the stock. BidaskClub downgraded shares of Great Lakes Dredge & Dock from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 6th. Zacks Investment Research downgraded shares of Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating and set a $11.00 price objective on the stock. in a research report on Wednesday, May 1st. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Great Lakes Dredge & Dock has an average rating of “Hold” and a consensus price target of $9.50.

Institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp grew its position in Great Lakes Dredge & Dock by 4.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 662,831 shares of the construction company’s stock worth $4,109,000 after purchasing an additional 30,425 shares during the last quarter. Vanguard Group Inc. grew its position in Great Lakes Dredge & Dock by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 2,899,946 shares of the construction company’s stock worth $17,978,000 after purchasing an additional 39,315 shares during the last quarter. Strs Ohio grew its position in Great Lakes Dredge & Dock by 349.3% during the 4th quarter. Strs Ohio now owns 61,100 shares of the construction company’s stock worth $404,000 after purchasing an additional 47,500 shares during the last quarter. Jennison Associates LLC grew its position in Great Lakes Dredge & Dock by 1.2% during the 4th quarter. Jennison Associates LLC now owns 4,980,107 shares of the construction company’s stock worth $32,968,000 after purchasing an additional 60,315 shares during the last quarter. Finally, Ibex Investors LLC purchased a new stake in Great Lakes Dredge & Dock during the 4th quarter worth approximately $221,000. 81.82% of the stock is currently owned by hedge funds and other institutional investors.

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Great Lakes Dredge & Dock Company 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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