Harvey Partners LLC Has $38.41 Million Stock Holdings in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Harvey Partners LLC increased its holdings in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 9.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,647,500 shares of the construction company’s stock after purchasing an additional 325,500 shares during the period. Great Lakes Dredge & Dock accounts for 4.4% of Harvey Partners LLC’s holdings, making the stock its 4th biggest holding. Harvey Partners LLC owned about 5.42% of Great Lakes Dredge & Dock worth $38,408,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in GLDD. Quarry LP raised its position in Great Lakes Dredge & Dock by 68.5% in the second quarter. Quarry LP now owns 3,097 shares of the construction company’s stock valued at $27,000 after purchasing an additional 1,259 shares during the period. Innealta Capital LLC acquired a new stake in shares of Great Lakes Dredge & Dock during the 2nd quarter worth $30,000. nVerses Capital LLC increased its stake in Great Lakes Dredge & Dock by 400.0% during the third quarter. nVerses Capital LLC now owns 3,500 shares of the construction company’s stock valued at $37,000 after purchasing an additional 2,800 shares during the last quarter. CWM LLC increased its holdings in shares of Great Lakes Dredge & Dock by 520.5% during the second quarter. CWM LLC now owns 5,051 shares of the construction company’s stock valued at $44,000 after purchasing an additional 4,237 shares during the period. Finally, 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 valued at $107,000 after buying an additional 1,200 shares during the period. Hedge funds and other institutional investors own 89.11% of the company’s stock.

Insiders Place Their Bets

In related news, Director Kathleen M. Shanahan sold 23,238 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $12.63, for a total transaction of $293,495.94. Following the completion of the transaction, the director now owns 67,675 shares of the company’s stock, valued at approximately $854,735.25. This represents a 25.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.20% of the stock is owned by company insiders.

Great Lakes Dredge & Dock Price Performance

GLDD opened at $12.52 on Tuesday. Great Lakes Dredge & Dock Co. has a 12-month low of $6.55 and a 12-month high of $12.83. The stock has a market capitalization of $842.25 million, a P/E ratio of 14.39, a PEG ratio of 0.47 and a beta of 1.13. 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 stock has a 50-day moving average price of $11.82 and a 200-day moving average price of $10.09.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last posted its earnings results on Tuesday, November 5th. The construction company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.05). Great Lakes Dredge & Dock had a net margin of 7.97% and a return on equity of 13.35%. The business had revenue of $191.17 million during the quarter, compared to analysts’ expectations of $180.80 million. During the same period last year, the business posted ($0.09) earnings per share. Equities analysts predict that Great Lakes Dredge & Dock Co. will post 0.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on GLDD shares. StockNews.com cut shares of Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research report on Thursday, August 15th. Noble Financial raised their price objective on Great Lakes Dredge & Dock from $11.00 to $14.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd.

About Great Lakes Dredge & Dock

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.