Key Points
- SVP David Johanson sold 12,100 shares across two trades (10,000 on Dec 3 at $13.02 and 2,100 on Dec 10 at $13.96), totaling about $159,516, and the filings show his stake fell ~2.23%.
- Company results mixed: Great Lakes Dredge & Dock reported $0.26 EPS (beating estimates) but revenue of $195.2M missed consensus, and the stock trades near a 52-week high with a market cap of ~$937M and a P/E of 11.68.
- High institutional ownership and analyst stance: about 89.11% of shares are held by institutions and analysts’ ratings average to a “Buy,” with Zacks recently upgrading to a strong-buy while Weiss rates it a hold.
Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD - Get Free Report) SVP David Johanson sold 2,100 shares of the firm's stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $13.96, for a total value of $29,316.00. Following the completion of the transaction, the senior vice president directly owned 91,963 shares in the company, valued at approximately $1,283,803.48. This represents a 2.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
David Johanson also recently made the following trade(s):
- On Wednesday, December 3rd, David Johanson sold 10,000 shares of Great Lakes Dredge & Dock stock. The shares were sold at an average price of $13.02, for a total value of $130,200.00.
Great Lakes Dredge & Dock Stock Performance
Shares of GLDD opened at $13.78 on Friday. Great Lakes Dredge & Dock Corporation has a 52 week low of $7.51 and a 52 week high of $14.00. The company has a quick ratio of 1.06, a current ratio of 1.20 and a debt-to-equity ratio of 0.83. The stock has a market cap of $937.04 million, a price-to-earnings ratio of 11.68, a PEG ratio of 1.05 and a beta of 1.43. The business has a 50-day simple moving average of $12.09 and a two-hundred day simple moving average of $11.79.
Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last released its earnings results on Tuesday, November 4th. The construction company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.09. Great Lakes Dredge & Dock had a net margin of 9.65% and a return on equity of 16.84%. The company had revenue of $195.21 million during the quarter, compared to analyst estimates of $201.30 million. On average, analysts expect that Great Lakes Dredge & Dock Corporation will post 0.69 EPS for the current year.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the company. MAI Capital Management grew its position in shares of Great Lakes Dredge & Dock by 79.2% during the 3rd quarter. MAI Capital Management now owns 2,161 shares of the construction company's stock worth $26,000 after buying an additional 955 shares in the last quarter. Strs Ohio bought a new position in Great Lakes Dredge & Dock during the 1st quarter worth about $45,000. State of Alaska Department of Revenue purchased a new position in Great Lakes Dredge & Dock during the 3rd quarter valued at about $46,000. Quarry LP raised its holdings in shares of Great Lakes Dredge & Dock by 213.7% in the 1st quarter. Quarry LP now owns 5,503 shares of the construction company's stock valued at $48,000 after purchasing an additional 3,749 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of Great Lakes Dredge & Dock by 43.5% in the 2nd quarter. Federated Hermes Inc. now owns 4,965 shares of the construction company's stock valued at $61,000 after purchasing an additional 1,505 shares in the last quarter. 89.11% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities research analysts have commented on the company. Weiss Ratings reissued a "hold (c+)" rating on shares of Great Lakes Dredge & Dock in a report on Wednesday, October 8th. Zacks Research raised Great Lakes Dredge & Dock from a "hold" rating to a "strong-buy" rating in a research report on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Great Lakes Dredge & Dock presently has an average rating of "Buy".
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About Great Lakes Dredge & Dock
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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.
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