Jennison Associates LLC Grows Holdings in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Jennison Associates LLC grew its holdings in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 9.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,299,418 shares of the construction company’s stock after purchasing an additional 366,923 shares during the period. Jennison Associates LLC owned about 0.06% of Great Lakes Dredge & Dock worth $33,020,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Group One Trading L.P. purchased a new position in shares of Great Lakes Dredge & Dock during the third quarter valued at $30,000. Mackenzie Financial Corp purchased a new position in shares of Great Lakes Dredge & Dock during the third quarter valued at $83,000. Bfsg LLC purchased a new position in shares of Great Lakes Dredge & Dock during the third quarter valued at $88,000. AXQ Capital LP purchased a new position in shares of Great Lakes Dredge & Dock during the third quarter valued at $92,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Great Lakes Dredge & Dock by 23.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,955 shares of the construction company’s stock valued at $123,000 after buying an additional 3,011 shares during the period. Hedge funds and other institutional investors own 89.11% of the company’s stock.

Great Lakes Dredge & Dock Price Performance

Shares of GLDD stock opened at $7.44 on Thursday. Great Lakes Dredge & Dock Co. has a 1-year low of $5.26 and a 1-year high of $9.78. The stock’s 50-day moving average is $8.45 and its 200 day moving average is $7.79. The company has a market cap of $496.55 million, a P/E ratio of 35.43, a PEG ratio of 1.29 and a beta of 0.96. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.26 and a quick ratio of 1.07.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last issued its quarterly earnings data on Wednesday, February 14th. The construction company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.16. Great Lakes Dredge & Dock had a return on equity of 2.56% and a net margin of 2.36%. The company had revenue of $181.73 million for the quarter, compared to the consensus estimate of $190.05 million. Research analysts predict that Great Lakes Dredge & Dock Co. will post 0.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GLDD has been the topic of several research reports. StockNews.com upgraded Great Lakes Dredge & Dock from a “sell” rating to a “hold” rating in a research note on Thursday, February 15th. TheStreet upgraded Great Lakes Dredge & Dock from a “d+” rating to a “c-” rating in a research note on Tuesday, February 20th.

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.