Minerva Advisors LLC Has $14.12 Million Stock Position in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Minerva Advisors LLC grew its holdings in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 1.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,341,807 shares of the construction company’s stock after acquiring an additional 19,470 shares during the period. Great Lakes Dredge & Dock comprises approximately 8.2% of Minerva Advisors LLC’s holdings, making the stock its 4th largest position. Minerva Advisors LLC’s holdings in Great Lakes Dredge & Dock were worth $14,116,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of GLDD. Quarry LP lifted its stake in shares of Great Lakes Dredge & Dock by 68.5% during the 2nd quarter. Quarry LP now owns 3,097 shares of the construction company’s stock valued at $27,000 after buying an additional 1,259 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of Great Lakes Dredge & Dock during the 2nd quarter valued at $30,000. nVerses Capital LLC lifted its stake in shares of Great Lakes Dredge & Dock by 400.0% during the 3rd quarter. nVerses Capital LLC now owns 3,500 shares of the construction company’s stock valued at $37,000 after buying an additional 2,800 shares in the last quarter. CWM LLC lifted its stake in shares of Great Lakes Dredge & Dock by 520.5% during the 2nd quarter. CWM LLC now owns 5,051 shares of the construction company’s stock valued at $44,000 after buying an additional 4,237 shares in the last quarter. Finally, ARS Investment Partners LLC lifted its stake in shares of Great Lakes Dredge & Dock by 11.0% during the 2nd quarter. ARS Investment Partners LLC now owns 12,150 shares of the construction company’s stock valued at $107,000 after buying an additional 1,200 shares in the last quarter. Institutional investors own 89.11% of the company’s stock.

Great Lakes Dredge & Dock Stock Up 1.0 %

Shares of NASDAQ GLDD opened at $12.06 on Tuesday. The firm’s 50-day moving average price is $11.26 and its 200-day moving average price is $9.80. The company has a current ratio of 1.21, a quick ratio of 1.01 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $811.28 million, a price-to-earnings ratio of 13.86, a P/E/G ratio of 0.45 and a beta of 1.13. Great Lakes Dredge & Dock Co. has a 12-month low of $6.40 and a 12-month high of $12.83.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last announced its earnings results on Tuesday, November 5th. The construction company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.05). The business had revenue of $191.17 million for the quarter, compared to analysts’ expectations of $180.80 million. Great Lakes Dredge & Dock had a net margin of 7.97% and a return on equity of 13.35%. During the same quarter in the prior year, the company posted ($0.09) earnings per share. On average, equities research analysts anticipate that Great Lakes Dredge & Dock Co. will post 0.76 EPS for the current fiscal year.

Insider Activity

In related news, Director Kathleen M. Shanahan sold 23,238 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $12.63, for a total transaction of $293,495.94. Following the transaction, the director now directly owns 67,675 shares in the company, valued at approximately $854,735.25. This represents a 25.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Lasse Petterson sold 46,510 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $9.08, for a total transaction of $422,310.80. Following the transaction, the chief executive officer now owns 931,101 shares in the company, valued at $8,454,397.08. The trade was a 4.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 98,457 shares of company stock worth $981,078. 2.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

GLDD has been the topic of several research analyst reports. StockNews.com cut shares of Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research note on Thursday, August 15th. Noble Financial boosted their price target on shares of Great Lakes Dredge & Dock from $11.00 to $14.00 and gave the stock an “outperform” rating in a research note on Monday, September 23rd.

Great Lakes Dredge & Dock Company Profile

Great Lakes Dredge & Dock Corporation provides dredging services in the United States. The company engages 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.