Canton Hathaway LLC Has $55,000 Stake in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

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Canton Hathaway LLC boosted its position in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 50.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 5,220 shares of the construction company’s stock after purchasing an additional 1,740 shares during the period. Canton Hathaway LLC’s holdings in Great Lakes Dredge & Dock were worth $55,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. grew its stake in Great Lakes Dredge & Dock by 4.2% during the second quarter. BlackRock Inc. now owns 4,331,739 shares of the construction company’s stock worth $47,823,000 after buying an additional 173,882 shares in the last quarter. Vanguard Group Inc. grew its stake in Great Lakes Dredge & Dock by 3.1% during the second quarter. Vanguard Group Inc. now owns 2,912,024 shares of the construction company’s stock worth $32,148,000 after buying an additional 87,712 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Great Lakes Dredge & Dock by 218.0% during the second quarter. JPMorgan Chase & Co. now owns 1,536,984 shares of the construction company’s stock worth $16,661,000 after buying an additional 1,053,659 shares in the last quarter. D. E. Shaw & Co. Inc. grew its stake in Great Lakes Dredge & Dock by 23.1% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,489,049 shares of the construction company’s stock worth $16,439,000 after buying an additional 279,745 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in Great Lakes Dredge & Dock by 93.6% during the second quarter. Renaissance Technologies LLC now owns 1,302,200 shares of the construction company’s stock worth $14,376,000 after buying an additional 629,700 shares in the last quarter. Hedge funds and other institutional investors own 85.74% of the company’s stock.

In other news, insider David E. Simonelli sold 3,809 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $10.90, for a total value of $41,518.10. Following the sale, the insider now directly owns 322,048 shares in the company, valued at approximately $3,510,323.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ryan Levenson sold 21,905 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $10.14, for a total transaction of $222,116.70. Following the completion of the sale, the director now owns 35,816 shares in the company, valued at $363,174.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,878 shares of company stock worth $276,171. 4.66% of the stock is currently owned by corporate insiders.

Shares of Great Lakes Dredge & Dock stock opened at $10.27 on Friday. The company has a market capitalization of $655.49 million, a price-to-earnings ratio of 28.53 and a beta of 0.53. The company has a quick ratio of 1.18, a current ratio of 1.31 and a debt-to-equity ratio of 1.50. Great Lakes Dredge & Dock Co. has a 12-month low of $5.37 and a 12-month high of $11.81. The firm’s 50-day moving average price is $10.34 and its two-hundred day moving average price is $10.41.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last announced its quarterly earnings data on Wednesday, July 31st. The construction company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.06. Great Lakes Dredge & Dock had a net margin of 3.90% and a return on equity of 22.64%. The firm had revenue of $184.81 million for the quarter, compared to the consensus estimate of $181.65 million. During the same period in the prior year, the company posted $0.02 earnings per share. The business’s revenue for the quarter was up 36.6% on a year-over-year basis. On average, sell-side analysts expect that Great Lakes Dredge & Dock Co. will post 0.74 earnings per share for the current year.

GLDD has been the topic of a number of analyst reports. BidaskClub downgraded shares of Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research note on Thursday. Zacks Investment Research upgraded shares of Great Lakes Dredge & Dock from a “hold” rating to a “strong-buy” rating and set a $12.00 price objective on the stock in a research note on Friday, August 2nd. ValuEngine downgraded shares of Great Lakes Dredge & Dock from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. Finally, Noble Financial reiterated a “buy” rating and set a $13.80 price objective on shares of Great Lakes Dredge & Dock in a research note on Sunday, October 6th.

Great Lakes Dredge & Dock Company Profile

Great Lakes Dredge & Dock Corporation provides dredging services in the United States and internationally. The company is involved 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.

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Institutional Ownership by Quarter for Great Lakes Dredge & Dock (NASDAQ:GLDD)

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