Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) Director Ryan Levenson sold 21,905 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $10.14, for a total transaction of $222,116.70. Following the sale, the director now directly owns 35,816 shares in the company, valued at $363,174.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Ryan Levenson also recently made the following trade(s):

  • On Wednesday, June 5th, Ryan Levenson sold 233,000 shares of Great Lakes Dredge & Dock stock. The stock was sold at an average price of $10.84, for a total transaction of $2,525,720.00.

GLDD opened at $10.97 on Friday. Great Lakes Dredge & Dock Co. has a one year low of $5.25 and a one year high of $11.81. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.31 and a quick ratio of 1.18. The company’s 50 day simple moving average is $10.81 and its 200-day simple moving average is $9.84. The stock has a market capitalization of $656.13 million, a P/E ratio of 30.47 and a beta of 0.62.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last released its quarterly earnings results on Wednesday, July 31st. The construction company reported $0.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.06. Great Lakes Dredge & Dock had a net margin of 3.90% and a return on equity of 22.64%. The business had revenue of $184.81 million for the quarter, compared to analysts’ expectations of $181.65 million. During the same period in the prior year, the firm earned $0.02 earnings per share. Great Lakes Dredge & Dock’s revenue was up 36.6% compared to the same quarter last year. As a group, analysts anticipate that Great Lakes Dredge & Dock Co. will post 0.74 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its stake in shares of Great Lakes Dredge & Dock by 4.2% during the second quarter. BlackRock Inc. now owns 4,331,739 shares of the construction company’s stock valued at $47,823,000 after purchasing an additional 173,882 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Great Lakes Dredge & Dock by 3.1% during the second quarter. Vanguard Group Inc. now owns 2,912,024 shares of the construction company’s stock valued at $32,148,000 after purchasing an additional 87,712 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Great Lakes Dredge & Dock by 218.0% during the second quarter. JPMorgan Chase & Co. now owns 1,536,984 shares of the construction company’s stock valued at $16,661,000 after purchasing an additional 1,053,659 shares during the last quarter. D. E. Shaw & Co. Inc. grew its stake in shares of Great Lakes Dredge & Dock by 23.1% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,489,049 shares of the construction company’s stock valued at $16,439,000 after purchasing an additional 279,745 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Great Lakes Dredge & Dock by 93.6% during the second quarter. Renaissance Technologies LLC now owns 1,302,200 shares of the construction company’s stock valued at $14,376,000 after purchasing an additional 629,700 shares during the last quarter. 83.04% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have weighed in on the stock. Noble Financial set a $14.00 price objective on shares of Great Lakes Dredge & Dock and gave the stock a “buy” rating in a research note on Wednesday. BidaskClub raised shares of Great Lakes Dredge & Dock from a “sell” rating to a “hold” rating in a research note on Wednesday, July 3rd. ValuEngine cut shares of Great Lakes Dredge & Dock from a “hold” rating to a “sell” rating in a research note on Tuesday, August 6th. Finally, Zacks Investment Research raised shares of Great Lakes Dredge & Dock from a “hold” rating to a “strong-buy” rating and set a $12.00 price objective on the stock in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $13.00.

About Great Lakes Dredge & Dock

Great Lakes Dredge & Dock Corporation provides dredging services in the United States and internationally. The company is involved 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.

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