Minerva Advisors LLC Increases Position in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Minerva Advisors LLC grew its stake in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 1.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,341,807 shares of the construction company’s stock after buying an additional 19,470 shares during the quarter. Great Lakes Dredge & Dock accounts for approximately 8.2% of Minerva Advisors LLC’s portfolio, making the stock its 4th largest holding. Minerva Advisors LLC owned about 2.00% of Great Lakes Dredge & Dock worth $14,116,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. lifted its holdings in Great Lakes Dredge & Dock by 1.0% in the third quarter. Victory Capital Management Inc. now owns 123,228 shares of the construction company’s stock worth $1,298,000 after buying an additional 1,228 shares during the period. GSA Capital Partners LLP lifted its holdings in Great Lakes Dredge & Dock by 138.5% in the third quarter. GSA Capital Partners LLP now owns 154,451 shares of the construction company’s stock worth $1,626,000 after buying an additional 89,684 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in Great Lakes Dredge & Dock in the third quarter worth about $1,079,000. nVerses Capital LLC lifted its holdings in Great Lakes Dredge & Dock by 400.0% in the third quarter. nVerses Capital LLC now owns 3,500 shares of the construction company’s stock worth $37,000 after buying an additional 2,800 shares during the period. Finally, Bfsg LLC lifted its holdings in shares of Great Lakes Dredge & Dock by 1,465.4% during the third quarter. Bfsg LLC now owns 185,035 shares of the construction company’s stock valued at $1,948,000 after purchasing an additional 173,215 shares during the last quarter. 89.11% of the stock is owned by institutional investors.

Great Lakes Dredge & Dock Price Performance

Shares of NASDAQ GLDD opened at $12.06 on Tuesday. Great Lakes Dredge & Dock Co. has a twelve month low of $6.40 and a twelve month high of $12.83. The firm has a market cap of $811.28 million, a P/E ratio of 13.86, a PEG ratio of 0.45 and a beta of 1.13. The company has a 50 day moving average of $11.26 and a 200 day moving average of $9.80. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.97.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last announced its quarterly earnings data on Tuesday, November 5th. The construction company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.05). Great Lakes Dredge & Dock had a return on equity of 13.35% and a net margin of 7.97%. The firm had revenue of $191.17 million during the quarter, compared to analysts’ expectations of $180.80 million. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. As a group, research analysts expect that Great Lakes Dredge & Dock Co. will post 0.76 EPS for the current fiscal year.

Insider Buying and Selling

In other Great Lakes Dredge & Dock news, Director Kathleen M. Shanahan sold 23,238 shares of Great Lakes Dredge & Dock stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $12.63, for a total value of $293,495.94. Following the completion of the sale, the director now owns 67,675 shares of the company’s stock, valued at approximately $854,735.25. The trade was a 25.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Lasse Petterson sold 28,709 shares of Great Lakes Dredge & Dock stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $9.24, for a total transaction of $265,271.16. Following the completion of the sale, the chief executive officer now directly owns 902,392 shares of the company’s stock, valued at approximately $8,338,102.08. This trade represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 98,457 shares of company stock worth $981,078 in the last three months. Insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on GLDD shares. Noble Financial lifted their target price on shares of Great Lakes Dredge & Dock from $11.00 to $14.00 and gave the company an “outperform” rating in a report on Monday, September 23rd. StockNews.com lowered shares of Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a report on Thursday, August 15th.

About Great Lakes Dredge & Dock

Great Lakes Dredge & Dock Corporation provides dredging services in the United States. The company engages 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.