Acuitas Investments LLC Takes Position in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Acuitas Investments LLC bought a new stake in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) in the fourth quarter, Holdings Channel.com reports. The fund bought 314,561 shares of the construction company’s stock, valued at approximately $2,416,000.

Other large investors have also recently made changes to their positions in the company. Group One Trading L.P. purchased a new stake in shares of Great Lakes Dredge & Dock during the third quarter valued at $30,000. Bfsg LLC purchased a new stake in shares of Great Lakes Dredge & Dock during the third quarter valued at $88,000. Mackenzie Financial Corp purchased a new stake in shares of Great Lakes Dredge & Dock during the third quarter valued at $83,000. AXQ Capital LP purchased a new stake in shares of Great Lakes Dredge & Dock during the third quarter valued at $92,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Great Lakes Dredge & Dock by 23.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,955 shares of the construction company’s stock valued at $123,000 after purchasing an additional 3,011 shares during the period. 89.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GLDD. StockNews.com raised shares of Great Lakes Dredge & Dock from a “sell” rating to a “hold” rating in a research note on Thursday, February 15th. TheStreet raised shares of Great Lakes Dredge & Dock from a “d+” rating to a “c-” rating in a research note on Tuesday, February 20th.

Great Lakes Dredge & Dock Stock Down 2.5 %

NASDAQ:GLDD traded down $0.19 during mid-day trading on Wednesday, reaching $7.44. The company’s stock had a trading volume of 231,038 shares, compared to its average volume of 360,133. Great Lakes Dredge & Dock Co. has a 1 year low of $5.26 and a 1 year high of $9.78. The stock has a fifty day moving average of $8.45 and a 200-day moving average of $7.79. The firm has a market capitalization of $496.55 million, a PE ratio of 35.43, a price-to-earnings-growth ratio of 1.29 and a beta of 0.96. The company has a quick ratio of 1.07, a current ratio of 1.26 and a debt-to-equity ratio of 1.07.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last released its quarterly earnings data on Wednesday, February 14th. The construction company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.16. Great Lakes Dredge & Dock had a net margin of 2.36% and a return on equity of 2.56%. The company had revenue of $181.73 million during the quarter, compared to analyst estimates of $190.05 million. Equities research analysts forecast that Great Lakes Dredge & Dock Co. will post 0.57 earnings per share for the current year.

Great Lakes Dredge & Dock Company Profile

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.