Essex Investment Management Co. LLC Cuts Stake in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Essex Investment Management Co. LLC reduced its stake in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 12.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 303,050 shares of the construction company’s stock after selling 44,467 shares during the quarter. Essex Investment Management Co. LLC’s holdings in Great Lakes Dredge & Dock were worth $3,421,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. AlphaQuest LLC acquired a new stake in shares of Great Lakes Dredge & Dock during the fourth quarter worth $33,000. R Squared Ltd acquired a new stake in shares of Great Lakes Dredge & Dock during the fourth quarter worth $69,000. Passumpsic Savings Bank acquired a new stake in shares of Great Lakes Dredge & Dock during the fourth quarter worth $135,000. Point72 Asset Management L.P. acquired a new stake in shares of Great Lakes Dredge & Dock during the third quarter worth $147,000. Finally, New York State Common Retirement Fund lifted its stake in shares of Great Lakes Dredge & Dock by 64.8% during the fourth quarter. New York State Common Retirement Fund now owns 14,753 shares of the construction company’s stock worth $167,000 after buying an additional 5,800 shares during the period. 89.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Great Lakes Dredge & Dock

In other Great Lakes Dredge & Dock news, SVP Christopher Gunsten bought 3,875 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average cost of $7.75 per share, for a total transaction of $30,031.25. Following the completion of the transaction, the senior vice president now directly owns 61,532 shares of the company’s stock, valued at approximately $476,873. This trade represents a 6.72 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.20% of the stock is currently owned by insiders.

Great Lakes Dredge & Dock Trading Down 0.8 %

NASDAQ:GLDD opened at $7.92 on Friday. Great Lakes Dredge & Dock Co. has a 12 month low of $6.55 and a 12 month high of $12.89. The firm has a fifty day simple moving average of $10.56 and a 200-day simple moving average of $11.04. The company has a current ratio of 1.21, a quick ratio of 1.01 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $532.88 million, a P/E ratio of 9.43, a PEG ratio of 1.06 and a beta of 1.21.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last posted its earnings results on Tuesday, February 18th. The construction company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.06. The company had revenue of $202.77 million during the quarter, compared to the consensus estimate of $211.20 million. Great Lakes Dredge & Dock had a net margin of 7.51% and a return on equity of 13.72%. On average, equities research analysts anticipate that Great Lakes Dredge & Dock Co. will post 0.69 earnings per share for the current year.

About Great Lakes Dredge & Dock

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.