Fox Run Management L.L.C. Buys 10,774 Shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Fox Run Management L.L.C. lifted its holdings in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 41.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,645 shares of the construction company’s stock after buying an additional 10,774 shares during the quarter. Fox Run Management L.L.C.’s holdings in Great Lakes Dredge & Dock were worth $414,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in GLDD. Barclays PLC increased its stake in Great Lakes Dredge & Dock by 338.9% in the 3rd quarter. Barclays PLC now owns 106,642 shares of the construction company’s stock worth $1,123,000 after acquiring an additional 82,344 shares during the last quarter. TCW Group Inc. increased its holdings in shares of Great Lakes Dredge & Dock by 5.0% in the third quarter. TCW Group Inc. now owns 2,095,834 shares of the construction company’s stock worth $22,069,000 after buying an additional 99,696 shares during the period. Verition Fund Management LLC increased its stake in Great Lakes Dredge & Dock by 225.3% in the 3rd quarter. Verition Fund Management LLC now owns 60,127 shares of the construction company’s stock worth $633,000 after purchasing an additional 41,645 shares during the period. AlphaQuest LLC bought a new stake in Great Lakes Dredge & Dock during the 4th quarter valued at $33,000. Finally, BNP Paribas Financial Markets grew its holdings in 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 worth $3,025,000 after acquiring an additional 108,227 shares during the last quarter. Hedge funds and other institutional investors own 89.11% of the company’s stock.

Great Lakes Dredge & Dock Stock Performance

Shares of NASDAQ:GLDD opened at $9.19 on Wednesday. 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 company has a market cap of $618.33 million, a price-to-earnings ratio of 10.94, a price-to-earnings-growth ratio of 1.06 and a beta of 1.21. Great Lakes Dredge & Dock Co. has a 12 month low of $6.55 and a 12 month high of $12.89. The company has a 50-day moving average price of $9.89 and a 200-day moving average price of $10.98.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last issued its quarterly earnings data on Tuesday, February 18th. The construction company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.06. The firm had revenue of $202.77 million for the quarter, compared to analyst estimates of $211.20 million. Great Lakes Dredge & Dock had a return on equity of 13.72% and a net margin of 7.51%. As a group, equities analysts anticipate that Great Lakes Dredge & Dock Co. will post 0.69 EPS for the current year.

Great Lakes Dredge & Dock announced that its Board of Directors has authorized a stock buyback program on Friday, March 14th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the construction company to purchase up to 8.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Great Lakes Dredge & Dock

In other news, SVP Christopher Gunsten acquired 3,875 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were acquired at an average cost of $7.75 per share, with a total value of $30,031.25. Following the transaction, the senior vice president now owns 61,532 shares in the company, valued at $476,873. The trade was a 6.72 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 2.20% of the stock is currently owned by company insiders.

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.