On August 26, 2024, Lasse Petterson, CEO and President of Great Lakes Dredge & Dock Corp (NASDAQ:GLDD), sold 75,219 shares of the company. The transaction was filed with the SEC and can be viewed in detail via the SEC filing. After 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 and Infrastructure.
Over the past year, Lasse Petterson has sold a total of 250,000 shares and has not purchased any shares in the company. This recent sale is part of a broader trend observed within the company. Over the past year, there have been three insider sales and no insider purchases.
Great Lakes Dredge & Dock Corp shares were trading at $9.14 on the day of the sale. The company has a market capitalization of $660.467 million. The company’s price-to-earnings ratio is 15.14, which is below the industry median of 15.53 and also below the company’s historical median.
The stock is considered 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 by taking into account historical trading multiples, an adjustment factor based on past earnings and growth, and estimates of future business performance.
This insider sale may be of interest to investors who follow insider behavior as an indicator of the company’s future prospects or for adjustments to the stock’s valuation.
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This article first appeared on GuruFocus.
