Semanteon Capital Management LP Makes New $130,000 Investment in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Semanteon Capital Management LP purchased a new position in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 11,535 shares of the construction company’s stock, valued at approximately $130,000.

Several other large investors also recently bought and sold shares of GLDD. Barclays PLC increased its holdings in shares of Great Lakes Dredge & Dock by 338.9% in the 3rd quarter. Barclays PLC now owns 106,642 shares of the construction company’s stock valued at $1,123,000 after acquiring an additional 82,344 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Great Lakes Dredge & Dock in the third quarter valued at approximately $6,744,000. TCW Group Inc. increased its stake in 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 valued at $22,069,000 after purchasing an additional 99,696 shares during the last quarter. Verition Fund Management LLC raised its holdings in Great Lakes Dredge & Dock by 225.3% during the third 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 in the last quarter. Finally, AlphaQuest LLC purchased a new stake in shares of Great Lakes Dredge & Dock during the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 89.11% of the company’s stock.

Insider Activity

In related news, SVP Christopher Gunsten bought 3,875 shares of the stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average price of $7.75 per share, for a total transaction of $30,031.25. Following the acquisition, the senior vice president now owns 61,532 shares in the company, valued at approximately $476,873. This represents a 6.72 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 2.20% of the company’s stock.

Great Lakes Dredge & Dock Trading Down 2.4 %

Shares of Great Lakes Dredge & Dock stock opened at $9.11 on Friday. The company has a fifty day simple moving average of $9.98 and a 200-day simple moving average of $10.97. 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 current ratio of 1.21, a quick ratio of 1.01 and a debt-to-equity ratio of 0.97. The stock has a market cap of $612.95 million, a price-to-earnings ratio of 10.85, a PEG ratio of 1.06 and a beta of 1.21.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last issued its earnings results on Tuesday, February 18th. The construction company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.06. Great Lakes Dredge & Dock had a net margin of 7.51% and a return on equity of 13.72%. The business had revenue of $202.77 million during the quarter, compared to analysts’ expectations of $211.20 million. On average, equities analysts forecast that Great Lakes Dredge & Dock Co. will post 0.69 EPS for the current fiscal year.

Great Lakes Dredge & Dock announced that its board has approved a stock repurchase plan on Friday, March 14th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the construction company to reacquire up to 8.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

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.