Lasse Petterson, CEO and President of Great Lakes Dredge & Dock Corp (NASDAQ:GLDD), completed a sale of 63,918 shares of the company’s stock on August 20, 2024, according to a recent SEC filing. The transaction was performed at an average price of $9.07 per share, for a total value of approximately $579,920.06. Following this transaction, the insider now owns 977,611.29 shares of the company’s stock.
Great Lakes Dredge & Dock Corp specializes in dredging. These services are critical to maintaining and improving the navigability of waterways, beaches and harbors. The company’s activities play an important role in coastal restoration and maintenance of maritime infrastructure.
Over the last year, Lasse Petterson has sold a total of 174,781 shares and made no purchases. The recent sale represents a continuation of this selling trend.
The insider transaction history for Great Lakes Dredge & Dock Corp shows no insider purchases in the past year, with a total of two insider sales occurring during the same period.
In terms of valuation, Great Lakes Dredge & Dock Corp was trading at $9.07 on the day of the transaction, giving the company a market capitalization of $594.622 million. The price-to-earnings ratio was 13.62, which is below the industry median of 14.845 and the company’s historical median.
According to GF Value, an estimate of intrinsic value used by GuruFocus, Great Lakes Dredge & Dock Corp has a GF Value of $9.49. With the share price at $9.07, the Price to GF Value ratio is 0.96, indicating that the stock is fairly valued.
The GF score is calculated based on historical trading multiples, a GuruFocus adjustment factor based on past earnings and growth, and estimates of future business performance provided by Morningstar analysts.
This insider sale may be of interest to current and prospective investors as it provides insight into the insider’s view on the stock’s valuation and future prospects.
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.
