On August 26, 2024, Lasse Petterson, CEO and President of Great Lakes Dredge & Dock Corp (GLDD, Financial), executed a sale of 75,219 shares of the company. The transaction was filed with the SEC and can be viewed in detail through the SEC Filing. Following this sale, the insider now owns 902,392.29 shares of the company.
Great Lakes Dredge & Dock Corp is the largest provider of dredging services in the United States and a major provider of environmental and infrastructure services on the East, West, and Gulf Coasts. The company operates in two segments: Dredging and Environmental & Infrastructure.
Over the past year, Lasse Petterson has sold a total of 250,000 shares and has not made any purchases of the company's stock. This recent sale is part of a broader trend observed within the company, where there have been three insider sells and no insider buys over the past year.
Shares of Great Lakes Dredge & Dock Corp were trading at $9.14 on the day of the sale. The company has a market cap of $660.467 million. The price-earnings ratio of the company stands at 15.14, which is lower than the industry median of 15.53 and also below the company's historical median.
The stock is considered to be Fairly Valued with a price-to-GF Value ratio of 0.96, based on a GF Value of $9.54. The GF Value is calculated considering historical trading multiples, an adjustment factor based on past returns and growth, and future business performance estimates.
This insider sale might interest investors tracking insider behaviors as an indicator of the company's future prospects or stock valuation adjustments.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
