SCHEDULE 13G/A: Jennison Associates Discloses 7.9% Stake in Great Lakes Dredge & Dock Co.

Jennison Associates LLC has filed an amended Schedule 13G, reporting a 7.9% beneficial ownership stake in Great Lakes Dredge & Dock Co. as of March 31, 2025.

Summary

• Jennison Associates LLC, an investment adviser, reported beneficial ownership of 5,310,894 shares of Common Stock in Great Lakes Dredge & Dock Co.
• This ownership represents 7.9% of the total class of securities.
• The filing is an Amendment No. 1 to a Schedule 13G, indicating an update to a previously reported beneficial ownership.
• Jennison Associates LLC holds sole voting power over all 5,310,894 shares and shared dispositive power over the same amount of shares.
• The shares were acquired and are held in the ordinary course of business, and not for the purpose of changing or influencing the control of Great Lakes Dredge & Dock Co.

Sentiment

Score: 7

Explanation: The document is a factual disclosure of a significant institutional ownership stake, which is generally viewed as a positive indicator of investor confidence. It contains no negative operational or financial information about the issuer.

Positives

• The disclosure of a significant 7.9% stake by Jennison Associates LLC, a prominent investment adviser, may signal institutional confidence in Great Lakes Dredge & Dock Co.'s long-term prospects.
• The filing explicitly states that the shares are held in the ordinary course of business and not for the purpose of influencing control, which can be viewed positively by current management and other investors as it suggests a passive investment approach.

Future Outlook

This Schedule 13G filing does not contain any forward-looking statements or guidance regarding the issuer's future performance or outlook.

Industry Context

This filing highlights continued institutional investor interest in companies within the marine construction and dredging industry, as represented by Great Lakes Dredge & Dock Co. It reflects ongoing portfolio adjustments by large investment advisers within the sector.

Stakeholder Impact

• Shareholders: The disclosure provides transparency regarding a significant institutional holding, which can influence market perception and potentially reinforce confidence in the company's stock.

Key Dates

Keywords

Great Lakes Dredge & Dock Co., Jennison Associates LLC, Schedule 13G, beneficial ownership, common stock, institutional investor, dredging, marine construction