Harvey Partners LLC Buys 325,500 Shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Harvey Partners LLC lifted its stake in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 9.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,647,500 shares of the construction company’s stock after purchasing an additional 325,500 shares during the period. Great Lakes Dredge & Dock accounts for approximately 4.4% of Harvey Partners LLC’s holdings, making the stock its 4th largest holding. Harvey Partners LLC owned about 0.05% of Great Lakes Dredge & Dock worth $38,408,000 as of its most recent SEC filing.

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

Insider Activity

In other news, Director Kathleen M. Shanahan sold 23,238 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $12.63, for a total value of $293,495.94. Following the completion of the sale, the director now directly owns 67,675 shares in the company, valued at $854,735.25. This represents a 25.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 2.20% of the stock is owned by company insiders.

Analyst Ratings Changes

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

Great Lakes Dredge & Dock Price Performance

Shares of NASDAQ GLDD opened at $12.52 on Tuesday. Great Lakes Dredge & Dock Co. has a 52 week low of $6.55 and a 52 week high of $12.83. The firm has a market cap of $842.25 million, a P/E ratio of 14.39, a P/E/G ratio of 0.47 and a beta of 1.13. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.97. The business’s 50 day moving average price is $11.82 and its 200 day moving average price is $10.09.

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

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.