Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) Shares Bought by Bank of Montreal Can

Bank of Montreal Can lifted its holdings in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 600.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 116,867 shares of the construction company’s stock after buying an additional 100,183 shares during the quarter. Bank of Montreal Can owned approximately 0.17% of Great Lakes Dredge & Dock worth $1,038,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Innealta Capital LLC purchased a new position in Great Lakes Dredge & Dock in the 2nd quarter valued at $30,000. CWM LLC lifted its stake in shares of Great Lakes Dredge & Dock by 520.5% in the second quarter. CWM LLC now owns 5,051 shares of the construction company’s stock worth $44,000 after buying an additional 4,237 shares in the last quarter. ARS Investment Partners LLC boosted its position in Great Lakes Dredge & Dock by 11.0% during the second quarter. ARS Investment Partners LLC now owns 12,150 shares of the construction company’s stock worth $107,000 after acquiring an additional 1,200 shares during the last quarter. Quadrature Capital Ltd purchased a new position in Great Lakes Dredge & Dock in the 4th quarter worth approximately $113,000. Finally, Bayesian Capital Management LP acquired a new position in shares of Great Lakes Dredge & Dock during the 1st quarter worth approximately $137,000. Hedge funds and other institutional investors own 89.11% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Lasse Petterson sold 46,510 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $9.08, for a total transaction of $422,310.80. Following the completion of the sale, the chief executive officer now directly owns 931,101 shares of the company’s stock, valued at $8,454,397.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders have sold 128,990 shares of company stock valued at $1,174,747. Insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on GLDD. StockNews.com lowered shares of Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research report on Thursday, August 15th. Noble Financial lifted their target price 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.

Great Lakes Dredge & Dock Stock Performance

NASDAQ GLDD opened at $11.70 on Monday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.32 and a quick ratio of 1.13. The company has a market cap of $784.01 million, a P/E ratio of 20.53, a P/E/G ratio of 0.38 and a beta of 1.15. The stock has a 50-day moving average of $9.61 and a two-hundred day moving average of $8.96. Great Lakes Dredge & Dock Co. has a 1-year low of $6.11 and a 1-year high of $11.78.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last announced its quarterly 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. Great Lakes Dredge & Dock had a return on equity of 10.05% and a net margin of 6.61%. The company had revenue of $170.09 million during the quarter, compared to the consensus estimate of $165.00 million. During the same period in the previous year, the business earned $0.03 EPS. As a group, analysts anticipate that Great Lakes Dredge & Dock Co. will post 0.8 EPS 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.