557,375 Shares in Great Lakes Dredge & Dock Co. (GLDD) Purchased by Foundry Partners LLC

Foundry Partners LLC purchased a new stake in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 557,375 shares of the construction company’s stock, valued at approximately $2,564,000. Foundry Partners LLC owned approximately 0.90% of Great Lakes Dredge & Dock at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Teacher Retirement System of Texas purchased a new stake in shares of Great Lakes Dredge & Dock in the fourth quarter valued at approximately $103,000. MetLife Investment Advisors LLC grew its position in shares of Great Lakes Dredge & Dock by 164.5% in the first quarter. MetLife Investment Advisors LLC now owns 27,775 shares of the construction company’s stock valued at $128,000 after purchasing an additional 17,274 shares in the last quarter. SG Americas Securities LLC purchased a new position in Great Lakes Dredge & Dock in the fourth quarter worth approximately $136,000. Deltec Asset Management LLC grew its position in Great Lakes Dredge & Dock by 120.0% in the first quarter. Deltec Asset Management LLC now owns 55,000 shares of the construction company’s stock worth $253,000 after acquiring an additional 30,000 shares during the period. Finally, KBC Group NV grew its position in Great Lakes Dredge & Dock by 23.2% in the first quarter. KBC Group NV now owns 57,047 shares of the construction company’s stock worth $262,000 after acquiring an additional 10,730 shares during the period. Institutional investors and hedge funds own 78.02% of the company’s stock.

Shares of Great Lakes Dredge & Dock stock opened at $5.20 on Wednesday. Great Lakes Dredge & Dock Co. has a fifty-two week low of $3.60 and a fifty-two week high of $5.70. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.53 and a current ratio of 1.78.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last issued its quarterly earnings data on Wednesday, May 2nd. The construction company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.07. Great Lakes Dredge & Dock had a negative return on equity of 7.17% and a negative net margin of 3.51%. The company had revenue of $146.59 million during the quarter, compared to analyst estimates of $184.20 million. During the same period in the prior year, the business posted ($0.28) earnings per share. The firm’s revenue for the quarter was down 14.1% compared to the same quarter last year. equities research analysts anticipate that Great Lakes Dredge & Dock Co. will post -0.01 EPS for the current year.

Several research analysts recently weighed in on the company. Noble Financial set a $8.00 price objective on Great Lakes Dredge & Dock and gave the stock a “buy” rating in a research report on Thursday, May 31st. Zacks Investment Research lowered Great Lakes Dredge & Dock from a “hold” rating to a “sell” rating in a research report on Wednesday, February 21st. ValuEngine upgraded Great Lakes Dredge & Dock from a “hold” rating to a “buy” rating in a research report on Monday, May 7th. Finally, BidaskClub upgraded Great Lakes Dredge & Dock from a “sell” rating to a “hold” rating in a research report on Saturday, March 10th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $7.25.

Great Lakes Dredge & Dock Company Profile

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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