Counterpoint Mutual Funds LLC Purchases New Holdings in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Counterpoint Mutual Funds LLC bought a new position in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 35,458 shares of the construction company’s stock, valued at approximately $400,000.

Other large investors have also bought and sold shares of the company. AlphaQuest LLC purchased a new position in Great Lakes Dredge & Dock in the fourth quarter worth about $33,000. R Squared Ltd purchased a new position in Great Lakes Dredge & Dock in the fourth quarter worth about $69,000. Passumpsic Savings Bank purchased a new position in Great Lakes Dredge & Dock in the fourth quarter worth about $135,000. Point72 Asset Management L.P. purchased a new position in Great Lakes Dredge & Dock in the third quarter worth about $147,000. Finally, Intech Investment Management LLC purchased a new position in Great Lakes Dredge & Dock in the third quarter worth about $157,000. 89.11% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Great Lakes Dredge & Dock

In related news, SVP Christopher Gunsten purchased 3,875 shares of Great Lakes Dredge & Dock stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average cost of $7.75 per share, for a total transaction of $30,031.25. Following the completion of the purchase, the senior vice president now directly owns 61,532 shares of the company’s stock, valued at $476,873. The trade was a 6.72 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 2.20% of the company’s stock.

Great Lakes Dredge & Dock Stock Up 0.6 %

Shares of Great Lakes Dredge & Dock stock opened at $8.70 on Tuesday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.01 and a current ratio of 1.21. The stock has a market capitalization of $585.36 million, a PE ratio of 10.36, a price-to-earnings-growth ratio of 1.06 and a beta of 1.21. Great Lakes Dredge & Dock Co. has a 52-week low of $6.55 and a 52-week high of $12.89. The company has a 50-day simple moving average of $10.15 and a two-hundred day simple moving average of $11.00.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last issued its earnings results on Tuesday, February 18th. The construction company reported $0.29 earnings per share (EPS) for the quarter, topping 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 anticipate that Great Lakes Dredge & Dock Co. will post 0.69 EPS for the current fiscal year.

Great Lakes Dredge & Dock announced that its Board of Directors has approved a share repurchase program on Friday, March 14th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the construction company to repurchase up to 8.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Great Lakes Dredge & Dock Company Profile

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.