On August 16, 2024, Lasse Petterson, CEO and President of Great Lakes Dredge & Dock Corp (NASDAQ:GLDD), performed a significant transaction by selling 110,863 shares of the company’s stock. The sale was documented in a recent SEC filing. Following this transaction, the insider now owns 1,041,529.29 shares of Great Lakes Dredge & Dock Corp.
Great Lakes Dredge & Dock Corp is primarily engaged in the provision of dredging services. The company specializes in the deepening and maintenance of waterways, shipping channels and harbors. In addition, it creates and maintains beaches and restores aquatic and wetland areas.
Over the past year, Great Lakes Dredge & Dock Corp’s insider transaction history shows a trend of more selling than buying among insiders, with a total of 1 insider sale and 0 insider purchases. This recent sale by the insider is part of this ongoing trend.
In terms of valuation, Great Lakes Dredge & Dock Corp shares were trading at $9.09 on the day of the transaction. The company has a market capitalization of $612.091 million. The price to earnings ratio is 14.02, which is below the industry median of 14.88 and also below the company’s historical median.
According to GF Value, the estimated intrinsic value of Great Lakes Dredge & Dock Corp is $9.48 per share, making the stock fairly valued at a price-to-value ratio of 0.96.
The GF value is calculated based on historical trading multiples such as price-to-earnings ratio, price-to-sales ratio, price-to-book ratio and price-to-free cash flow, adjusted by a GuruFocus factor that takes into account past earnings and growth as well as Morningstar analyst estimates of future business performance.
This insider sale may be of interest to current and prospective investors as it provides insight into insider confidence and valuation prospects at current price levels.
This article created by GuruFocus is intended to provide general insights and does not constitute tailored financial advice. Our commentary is based on historical data and analyst forecasts, uses an unbiased methodology and is not intended to serve as specific investment advice. It does not contain a recommendation to buy or sell any stock and does not take into account any individual investment objectives or financial circumstances. Our goal is to provide long-term, fundamental, data-driven analysis. Note that our analysis may not include the most recent, price-sensitive company announcements or qualitative information. GuruFocus does not hold a position in any stocks mentioned here.
This article first appeared on GuruFocus.
