TCW Group Inc. Increases Holdings in Great Lakes Dredge & Dock Co. (GLDD)

TCW Group Inc. boosted its position in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 45.3% during the 3rd quarter, Holdings Channel reports. The firm owned 807,995 shares of the construction company’s stock after purchasing an additional 251,752 shares during the period. TCW Group Inc.’s holdings in Great Lakes Dredge & Dock were worth $5,010,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the business. Jennison Associates LLC lifted its position in shares of Great Lakes Dredge & Dock by 1.5% during the 2nd quarter. Jennison Associates LLC now owns 4,968,171 shares of the construction company’s stock valued at $26,083,000 after buying an additional 75,122 shares in the last quarter. BlackRock Inc. lifted its position in shares of Great Lakes Dredge & Dock by 5.5% during the 2nd quarter. BlackRock Inc. now owns 3,950,370 shares of the construction company’s stock valued at $20,739,000 after buying an additional 205,172 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Great Lakes Dredge & Dock by 0.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 3,675,275 shares of the construction company’s stock valued at $22,783,000 after buying an additional 17,159 shares in the last quarter. Foundry Partners LLC lifted its position in shares of Great Lakes Dredge & Dock by 23.1% during the 2nd quarter. Foundry Partners LLC now owns 685,950 shares of the construction company’s stock valued at $3,601,000 after buying an additional 128,575 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Great Lakes Dredge & Dock by 1.7% during the 1st quarter. Northern Trust Corp now owns 681,150 shares of the construction company’s stock valued at $3,133,000 after buying an additional 11,074 shares in the last quarter. 72.17% of the stock is currently owned by institutional investors and hedge funds.

GLDD has been the topic of a number of analyst reports. BidaskClub raised Great Lakes Dredge & Dock from a “sell” rating to a “hold” rating in a research report on Saturday, September 8th. ValuEngine cut Great Lakes Dredge & Dock from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 18th. Noble Financial set a $8.00 price objective on Great Lakes Dredge & Dock and gave the company a “buy” rating in a research report on Thursday, September 27th. Zacks Investment Research raised Great Lakes Dredge & Dock from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a research report on Monday, October 1st. Finally, TheStreet raised Great Lakes Dredge & Dock from a “d+” rating to a “c-” rating in a research note on Monday, September 10th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $7.50.

In other Great Lakes Dredge & Dock news, CEO Lasse Petterson bought 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 14th. The shares were bought at an average price of $5.30 per share, with a total value of $265,000.00. Following the purchase, the chief executive officer now owns 675,609 shares of the company’s stock, valued at $3,580,727.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 8.24% of the stock is currently owned by company insiders.

Shares of GLDD opened at $5.88 on Friday. The company has a market cap of $364.49 million, a P/E ratio of -21.78 and a beta of 0.64. Great Lakes Dredge & Dock Co. has a 12-month low of $4.15 and a 12-month high of $6.39. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.54 and a current ratio of 1.79.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last issued its earnings results on Wednesday, August 1st. The construction company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.01. The company had revenue of $150.59 million for the quarter, compared to the consensus estimate of $182.50 million. Great Lakes Dredge & Dock had a negative return on equity of 8.35% and a negative net margin of 3.69%. The firm’s quarterly revenue was down 14.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.07) EPS. On average, equities analysts expect that Great Lakes Dredge & Dock Co. will post 0.01 EPS for the current year.

About Great Lakes Dredge & Dock

Great Lakes Dredge & Dock Corporation provides dredging services in the United States and internationally. It operates through two segments, Dredging, and Environmental & Infrastructure. The Dredging segment 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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Institutional Ownership by Quarter for Great Lakes Dredge & Dock (NASDAQ:GLDD)

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