Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) insider David E. Simonelli sold 3,809 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $10.90, for a total transaction of $41,518.10. Following the transaction, the insider now directly owns 322,048 shares of the company’s stock, valued at approximately $3,510,323.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Shares of GLDD traded down $0.58 on Friday, hitting $10.01. 429,772 shares of the stock traded hands, compared to its average volume of 390,807. The company has a market capitalization of $675.92 million, a PE ratio of 12.91 and a beta of 0.60. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.18 and a current ratio of 1.31. The business has a 50 day simple moving average of $10.66 and a 200 day simple moving average of $10.12. Great Lakes Dredge & Dock Co. has a one year low of $5.37 and a one year high of $11.81.

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

A number of equities analysts have weighed in on the stock. BidaskClub raised shares of Great Lakes Dredge & Dock from a “hold” rating to a “buy” rating in a research note on Wednesday, August 28th. 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 target for the company in a research report on Friday, August 2nd. ValuEngine raised shares of Great Lakes Dredge & Dock from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Noble Financial set a $14.00 price target on shares of Great Lakes Dredge & Dock and gave the company a “buy” rating in a research report on Wednesday, August 21st. Three equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Great Lakes Dredge & Dock has an average rating of “Buy” and a consensus target price of $13.00.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Jefferies Group LLC increased its holdings in Great Lakes Dredge & Dock by 6.7% during the 2nd quarter. Jefferies Group LLC now owns 17,865 shares of the construction company’s stock worth $197,000 after purchasing an additional 1,114 shares in the last quarter. Cubist Systematic Strategies LLC increased its stake in Great Lakes Dredge & Dock by 2.5% in the second quarter. Cubist Systematic Strategies LLC now owns 84,028 shares of the construction company’s stock valued at $928,000 after acquiring an additional 2,019 shares during the last quarter. Falcon Point Capital LLC increased its stake in Great Lakes Dredge & Dock by 2.2% in the first quarter. Falcon Point Capital LLC now owns 95,576 shares of the construction company’s stock valued at $852,000 after acquiring an additional 2,055 shares during the last quarter. Quantamental Technologies LLC increased its stake in Great Lakes Dredge & Dock by 45.6% in the first quarter. Quantamental Technologies LLC now owns 7,573 shares of the construction company’s stock valued at $67,000 after acquiring an additional 2,373 shares during the last quarter. Finally, Swiss National Bank increased its stake in Great Lakes Dredge & Dock by 2.4% in the second quarter. Swiss National Bank now owns 104,900 shares of the construction company’s stock valued at $1,158,000 after acquiring an additional 2,500 shares during the last quarter. 83.04% of the stock is owned by institutional investors.

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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Insider Buying and Selling by Quarter for Great Lakes Dredge & Dock (NASDAQ:GLDD)

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