Cullen Capital Management LLC Has $1.56 Million Position in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Cullen Capital Management LLC decreased its holdings in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 9.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 138,382 shares of the construction company’s stock after selling 14,550 shares during the period. Cullen Capital Management LLC owned approximately 0.21% of Great Lakes Dredge & Dock worth $1,562,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Sanctuary Advisors LLC boosted its position in shares of Great Lakes Dredge & Dock by 0.4% during the fourth quarter. Sanctuary Advisors LLC now owns 235,282 shares of the construction company’s stock valued at $2,623,000 after buying an additional 979 shares during the last quarter. AlphaQuest LLC bought a new position in Great Lakes Dredge & Dock during the 4th quarter valued at $33,000. Quantbot Technologies LP boosted its holdings in Great Lakes Dredge & Dock by 29.8% during the 4th quarter. Quantbot Technologies LP now owns 19,429 shares of the construction company’s stock worth $219,000 after acquiring an additional 4,456 shares during the last quarter. New York State Common Retirement Fund grew its stake in shares of Great Lakes Dredge & Dock by 64.8% in the 4th quarter. New York State Common Retirement Fund now owns 14,753 shares of the construction company’s stock worth $167,000 after acquiring an additional 5,800 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in shares of Great Lakes Dredge & Dock in the fourth quarter valued at about $69,000. 89.11% of the stock is owned by institutional investors.

Great Lakes Dredge & Dock Stock Down 5.8 %

Great Lakes Dredge & Dock stock opened at $8.07 on Friday. Great Lakes Dredge & Dock Co. has a fifty-two week low of $6.55 and a fifty-two week high of $12.89. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.01 and a current ratio of 1.21. The firm’s 50-day simple moving average is $9.36 and its 200 day simple moving average is $10.93. The stock has a market cap of $543.60 million, a PE ratio of 9.61, a price-to-earnings-growth ratio of 1.06 and a beta of 1.17.

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

Great Lakes Dredge & Dock announced that its Board of Directors has initiated a stock buyback program on Friday, March 14th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the construction company to buy up to 8.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, SVP Christopher Gunsten acquired 3,875 shares of the stock in a transaction on Tuesday, March 4th. The shares were acquired at an average price of $7.75 per share, with a total value of $30,031.25. Following the completion of the transaction, the senior vice president now owns 61,532 shares in the company, valued at approximately $476,873. The trade was a 6.72 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.20% of the company’s stock.

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.