Semanteon Capital Management LP Takes Position in Great Lakes Dredge & Dock Corporation $GLDD

Semanteon Capital Management LP acquired a new position in shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 47,420 shares of the construction company’s stock, valued at approximately $569,000. Great Lakes Dredge & Dock makes up about 0.7% of Semanteon Capital Management LP’s investment portfolio, making the stock its 28th biggest position. Semanteon Capital Management LP owned 0.07% of Great Lakes Dredge & Dock at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. State of Alaska Department of Revenue purchased a new position in Great Lakes Dredge & Dock in the 3rd quarter worth approximately $46,000. Federated Hermes Inc. lifted its holdings in shares of Great Lakes Dredge & Dock by 43.5% during the 2nd quarter. Federated Hermes Inc. now owns 4,965 shares of the construction company’s stock worth $61,000 after acquiring an additional 1,505 shares during the last quarter. Strs Ohio purchased a new position in Great Lakes Dredge & Dock in the first quarter worth $45,000. CWM LLC increased its stake in Great Lakes Dredge & Dock by 125.0% in the third quarter. CWM LLC now owns 6,995 shares of the construction company’s stock valued at $84,000 after acquiring an additional 3,886 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Great Lakes Dredge & Dock by 5,519.6% in the second quarter. Russell Investments Group Ltd. now owns 9,160 shares of the construction company’s stock valued at $112,000 after acquiring an additional 8,997 shares during the last quarter. 89.11% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Great Lakes Dredge & Dock news, SVP David Johanson sold 2,100 shares of the stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $13.96, for a total value of $29,316.00. Following the completion of the sale, the senior vice president owned 91,963 shares in the company, valued at approximately $1,283,803.48. This trade represents a 2.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on GLDD shares. JPMorgan Chase & Co. assumed coverage on Great Lakes Dredge & Dock in a research report on Thursday, January 22nd. They set an “overweight” rating and a $20.00 price objective on the stock. Zacks Research lowered Great Lakes Dredge & Dock from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 3rd. CJS Securities upgraded shares of Great Lakes Dredge & Dock to a “strong-buy” rating in a report on Thursday, December 11th. Noble Financial cut shares of Great Lakes Dredge & Dock from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 12th. Finally, Wall Street Zen cut shares of Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research report on Saturday, January 24th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Great Lakes Dredge & Dock presently has a consensus rating of “Moderate Buy” and an average target price of $20.00.

Great Lakes Dredge & Dock Price Performance

Shares of Great Lakes Dredge & Dock stock opened at $16.89 on Friday. The company’s fifty day simple moving average is $14.67 and its two-hundred day simple moving average is $12.90. Great Lakes Dredge & Dock Corporation has a 12-month low of $7.51 and a 12-month high of $16.99. The firm has a market cap of $1.15 billion, a PE ratio of 14.31, a price-to-earnings-growth ratio of 1.28 and a beta of 1.42. The company has a quick ratio of 1.06, a current ratio of 1.20 and a debt-to-equity ratio of 0.83.

Great Lakes Dredge & Dock Profile

Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) is a leading provider of dredging and maritime construction services in the United States. The company specializes in the excavation and removal of sediment from waterways, harbors, ports and coastal areas to maintain navigability and support commercial shipping. Its operations encompass both maintenance dredging—removing accumulated material to restore channel depth—and new work projects such as land reclamation and harbor deepening.

In addition to traditional dredging, Great Lakes Dredge & Dock offers a range of complementary marine construction services.