Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) Receives $20.00 Average PT from Analysts

Shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) have earned a consensus rating of “Moderate Buy” from the six research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $20.00.

A number of equities research analysts have recently weighed in on GLDD shares. Weiss Ratings raised Great Lakes Dredge & Dock from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, January 21st. JPMorgan Chase & Co. began coverage on Great Lakes Dredge & Dock in a research report on Thursday, January 22nd. They issued an “overweight” rating and a $20.00 target price for the company. Wall Street Zen lowered shares of Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research note on Saturday, January 24th. Texas Capital lowered shares of Great Lakes Dredge & Dock from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 11th. Finally, Noble Financial downgraded shares of Great Lakes Dredge & Dock from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 12th.

Great Lakes Dredge & Dock Stock Performance

NASDAQ GLDD opened at $16.90 on Monday. The stock has a fifty day simple moving average of $14.87 and a 200-day simple moving average of $13.02. The company has a current ratio of 1.01, a quick ratio of 1.06 and a debt-to-equity ratio of 0.73. The stock has a market cap of $1.13 billion, a PE ratio of 15.79, a P/E/G ratio of 1.28 and a beta of 1.42. Great Lakes Dredge & Dock has a twelve month low of $7.51 and a twelve month high of $16.99.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last issued its quarterly earnings data on Monday, February 23rd. The construction company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.20 by $0.10. The firm had revenue of $256.45 million for the quarter, compared to analyst estimates of $216.30 million. Great Lakes Dredge & Dock had a net margin of 8.27% and a return on equity of 16.46%. Equities analysts anticipate that Great Lakes Dredge & Dock will post 0.69 earnings per share for the current year.

Insider Transactions at Great Lakes Dredge & Dock

In other news, SVP David Johanson sold 2,100 shares of Great Lakes Dredge & Dock stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $13.96, for a total value of $29,316.00. Following the completion of the transaction, the senior vice president owned 91,963 shares in the company, valued at approximately $1,283,803.48. This trade represents a 2.23% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.20% of the stock is owned by corporate insiders.

Institutional Trading of Great Lakes Dredge & Dock

Hedge funds and other institutional investors have recently bought and sold shares of the business. ProShare Advisors LLC boosted its position in shares of Great Lakes Dredge & Dock by 6.9% during the 4th quarter. ProShare Advisors LLC now owns 12,168 shares of the construction company’s stock worth $160,000 after acquiring an additional 786 shares in the last quarter. MAI Capital Management lifted its position in Great Lakes Dredge & Dock by 79.2% in the third quarter. MAI Capital Management now owns 2,161 shares of the construction company’s stock valued at $26,000 after acquiring an additional 955 shares during the last quarter. State of Wyoming boosted its stake in Great Lakes Dredge & Dock by 3.3% in the third quarter. State of Wyoming now owns 36,148 shares of the construction company’s stock valued at $433,000 after acquiring an additional 1,142 shares in the last quarter. AE Wealth Management LLC grew its holdings in shares of Great Lakes Dredge & Dock by 8.1% during the third quarter. AE Wealth Management LLC now owns 19,175 shares of the construction company’s stock worth $230,000 after purchasing an additional 1,443 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position in shares of Great Lakes Dredge & Dock by 231.4% during the fourth quarter. Farther Finance Advisors LLC now owns 2,111 shares of the construction company’s stock worth $28,000 after purchasing an additional 1,474 shares in the last quarter. 89.11% of the stock is currently owned by institutional investors and hedge funds.

Great Lakes Dredge & Dock Company Profile

Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) is a leading provider of dredging and maritime construction services in the United States. The company specializes in the excavation and removal of sediment from waterways, harbors, ports and coastal areas to maintain navigability and support commercial shipping. Its operations encompass both maintenance dredging—removing accumulated material to restore channel depth—and new work projects such as land reclamation and harbor deepening.

In addition to traditional dredging, Great Lakes Dredge & Dock offers a range of complementary marine construction services.