Passumpsic Savings Bank Makes New Investment in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Passumpsic Savings Bank bought a new stake in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,000 shares of the construction company’s stock, valued at approximately $135,000.

A number of other hedge funds have also made changes to their positions in the company. Jennison Associates LLC raised its holdings in shares of Great Lakes Dredge & Dock by 1.9% during the third quarter. Jennison Associates LLC now owns 4,333,438 shares of the construction company’s stock valued at $45,631,000 after acquiring an additional 79,087 shares during the last quarter. Harvey Partners LLC raised its holdings in shares of Great Lakes Dredge & Dock by 9.8% during the third quarter. Harvey Partners LLC now owns 3,647,500 shares of the construction company’s stock valued at $38,408,000 after acquiring an additional 325,500 shares during the last quarter. TCW Group Inc. raised its holdings in shares of Great Lakes Dredge & Dock by 5.0% during the third quarter. TCW Group Inc. now owns 2,095,834 shares of the construction company’s stock valued at $22,069,000 after acquiring an additional 99,696 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Great Lakes Dredge & Dock by 1.4% during the third quarter. Geode Capital Management LLC now owns 1,561,897 shares of the construction company’s stock valued at $16,450,000 after acquiring an additional 22,166 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Great Lakes Dredge & Dock by 0.9% during the third quarter. State Street Corp now owns 1,540,516 shares of the construction company’s stock valued at $16,222,000 after acquiring an additional 13,010 shares during the last quarter. Institutional investors and hedge funds own 89.11% of the company’s stock.

Great Lakes Dredge & Dock Price Performance

Shares of Great Lakes Dredge & Dock stock opened at $8.42 on Friday. The business has a 50 day simple moving average of $11.33 and a two-hundred day simple moving average of $11.08. Great Lakes Dredge & Dock Co. has a 12 month low of $6.55 and a 12 month high of $12.89. The stock has a market capitalization of $566.41 million, a P/E ratio of 10.02, a PEG ratio of 0.30 and a beta of 1.16. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.21 and a quick ratio of 1.01.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last announced its earnings results on Tuesday, February 18th. The construction company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.06. Great Lakes Dredge & Dock had a return on equity of 13.72% and a net margin of 7.51%. The business had revenue of $202.77 million during the quarter, compared to analysts’ expectations of $211.20 million. As a group, analysts predict that Great Lakes Dredge & Dock Co. will post 0.81 EPS for the current fiscal year.

Great Lakes Dredge & Dock Company Profile

Great Lakes Dredge & Dock Corp. engages in the provision of dredging services. Its projects include channel and port maintenance, channel deepening and port expansion, coastal protection and restoration, as well as land reclamation. The company was founded by William A. Lydon and Frederick C. Drews in 1890 and is headquartered in Houston, TX.