Eleni Beyko Sells 22,579 Shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) Stock

Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) SVP Eleni Beyko sold 22,579 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $10.26, for a total transaction of $231,660.54. Following the sale, the senior vice president now owns 50,138 shares of the company’s stock, valued at approximately $514,415.88. This represents a 31.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Great Lakes Dredge & Dock Stock Performance

GLDD stock opened at $10.79 on Friday. The stock has a market capitalization of $726.83 million, a PE ratio of 12.85, a price-to-earnings-growth ratio of 1.06 and a beta of 1.23. The stock’s 50 day simple moving average is $8.85 and its 200 day simple moving average is $10.53. Great Lakes Dredge & Dock Co. has a 12-month low of $7.51 and a 12-month high of $12.89. The company has a current ratio of 1.21, a quick ratio of 1.01 and a debt-to-equity ratio of 0.97.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last released its quarterly earnings data on Tuesday, May 6th. The construction company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.25 by $0.24. Great Lakes Dredge & Dock had a return on equity of 13.72% and a net margin of 7.51%. The company had revenue of $242.87 million for the quarter, compared to analysts’ expectations of $206.70 million. As a group, research analysts forecast that Great Lakes Dredge & Dock Co. will post 0.69 earnings per share for the current fiscal year.

Great Lakes Dredge & Dock declared that its Board of Directors has authorized a share buyback plan on Friday, March 14th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the construction company to buy up to 8.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Great Lakes Dredge & Dock

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Castlekeep Investment Advisors LLC purchased a new position in shares of Great Lakes Dredge & Dock in the 4th quarter worth $62,958,000. Jennison Associates LLC increased its position in shares of Great Lakes Dredge & Dock by 22.7% during the 1st quarter. Jennison Associates LLC now owns 5,310,894 shares of the construction company’s stock valued at $46,205,000 after purchasing an additional 981,652 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Great Lakes Dredge & Dock by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,443,586 shares of the construction company’s stock worth $50,168,000 after purchasing an additional 22,370 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Great Lakes Dredge & Dock by 0.8% in the first quarter. Vanguard Group Inc. now owns 3,907,174 shares of the construction company’s stock worth $33,992,000 after buying an additional 29,586 shares during the last quarter. Finally, TCW Group Inc. grew its position in Great Lakes Dredge & Dock by 4.0% during the first quarter. TCW Group Inc. now owns 2,153,534 shares of the construction company’s stock valued at $18,736,000 after buying an additional 82,700 shares during the period. Hedge funds and other institutional investors own 89.11% of the company’s stock.

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.