Lasse Petterson Sells 28,709 Shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) Stock

Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) CEO Lasse Petterson sold 28,709 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Lasse Petterson also recently made the following trade(s):

• On Friday, August 23rd, Lasse Petterson sold 46,510 shares of Great Lakes Dredge & Dock stock. The stock was sold at an average price of $9.08, for a total value of $422,310.80.
• On Monday, August 19th, Lasse Petterson sold 53,771 shares of Great Lakes Dredge & Dock stock. The stock was sold at an average price of $9.06, for a total value of $487,165.26.

Great Lakes Dredge & Dock Stock Up 8.5 %

Shares of Great Lakes Dredge & Dock stock traded up $0.77 during trading on Monday, reaching $9.84. 1,097,341 shares of the company traded hands, compared to its average volume of 406,521. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.25 and a quick ratio of 1.06. The firm has a market capitalization of $659.37 million, a PE ratio of 17.26, a P/E/G ratio of 0.36 and a beta of 1.14. The company has a 50 day moving average price of $8.90 and a 200-day moving average price of $8.68. Great Lakes Dredge & Dock Co. has a 1-year low of $6.11 and a 1-year high of $9.93.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last issued its earnings results on Tuesday, August 6th. The construction company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.08. Great Lakes Dredge & Dock had a return on equity of 8.83% and a net margin of 6.05%. The company had revenue of $170.09 million for the quarter, compared to analyst estimates of $165.00 million. During the same period in the prior year, the firm earned $0.03 earnings per share. As a group, equities research analysts expect that Great Lakes Dredge & Dock Co. will post 0.72 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Quarry LP boosted its stake in Great Lakes Dredge & Dock by 68.5% during the 2nd quarter. Quarry LP now owns 3,097 shares of the construction company’s stock valued at $27,000 after purchasing an additional 1,259 shares during the last quarter. Innealta Capital LLC bought a new stake in Great Lakes Dredge & Dock during the second quarter worth $30,000. CWM LLC raised its position in Great Lakes Dredge & Dock by 520.5% in the 2nd quarter. CWM LLC now owns 5,051 shares of the construction company’s stock valued at $44,000 after buying an additional 4,237 shares during the last quarter. ARS Investment Partners LLC lifted its stake in Great Lakes Dredge & Dock by 11.0% during the 2nd quarter. ARS Investment Partners LLC now owns 12,150 shares of the construction company’s stock valued at $107,000 after acquiring an additional 1,200 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new position in Great Lakes Dredge & Dock during the 4th quarter worth $113,000. 89.11% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a report on Thursday, August 15th.

Great Lakes Dredge & Dock Company Profile

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.