Canton Hathaway LLC Cuts Stake in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Canton Hathaway LLC lowered its stake in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 7.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,200 shares of the construction company’s stock after selling 3,100 shares during the period. Canton Hathaway LLC owned about 0.06% of Great Lakes Dredge & Dock worth $431,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Great Lakes Dredge & Dock in the 3rd quarter valued at approximately $6,744,000. Harvey Partners LLC grew its stake in shares of Great Lakes Dredge & Dock by 9.8% in the 3rd quarter. Harvey Partners LLC now owns 3,647,500 shares of the construction company’s stock valued at $38,408,000 after buying an additional 325,500 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Great Lakes Dredge & Dock by 217.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 228,121 shares of the construction company’s stock valued at $2,402,000 after buying an additional 156,341 shares during the period. BNP Paribas Financial Markets grew its stake in shares of Great Lakes Dredge & Dock by 60.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 287,248 shares of the construction company’s stock valued at $3,025,000 after buying an additional 108,227 shares during the period. Finally, TCW Group Inc. grew its stake in shares of Great Lakes Dredge & Dock by 5.0% in the 3rd quarter. TCW Group Inc. now owns 2,095,834 shares of the construction company’s stock valued at $22,069,000 after buying an additional 99,696 shares during the period. Hedge funds and other institutional investors own 89.11% of the company’s stock.

Great Lakes Dredge & Dock Stock Performance

Great Lakes Dredge & Dock stock opened at $8.20 on Tuesday. The firm has a 50 day simple moving average of $11.18 and a 200-day simple moving average of $11.11. Great Lakes Dredge & Dock Co. has a 1-year low of $6.55 and a 1-year high of $12.89. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.21 and a quick ratio of 1.01. The stock has a market cap of $551.63 million, a price-to-earnings ratio of 9.76, a price-to-earnings-growth ratio of 1.06 and a beta of 1.16.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last posted its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.06. Great Lakes Dredge & Dock had a net margin of 7.51% and a return on equity of 13.72%. The business had revenue of $202.77 million during the quarter, compared to analysts’ expectations of $211.20 million. On average, analysts expect that Great Lakes Dredge & Dock Co. will post 0.69 EPS for the current year.

About Great Lakes Dredge & Dock

Great Lakes Dredge & Dock Corp. engages in the provision of dredging services. Its projects include channel and port maintenance, channel deepening and port expansion, coastal protection and restoration, as well as land reclamation. The company was founded by William A. Lydon and Frederick C. Drews in 1890 and is headquartered in Houston, TX.