Great Lakes Dredge & Dock (NASDAQ:GLDD) Upgraded to “Hold” at Zacks Research

Zacks Research upgraded shares of Great Lakes Dredge & Dock (NASDAQ:GLDD) from a strong sell rating to a hold rating in a research report report published on Wednesday,Zacks.com reports.

GLDD has been the topic of several other research reports. Noble Financial cut Great Lakes Dredge & Dock from an “outperform” rating to a “market perform” rating in a report on Thursday, February 12th. CJS Securities raised Great Lakes Dredge & Dock to a “strong-buy” rating in a research note on Thursday, December 11th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $17.00 price objective on shares of Great Lakes Dredge & Dock in a report on Wednesday. Texas Capital lowered Great Lakes Dredge & Dock from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 11th. Finally, Weiss Ratings upgraded shares of Great Lakes Dredge & Dock from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Great Lakes Dredge & Dock has an average rating of “Moderate Buy” and an average price target of $17.00.

Great Lakes Dredge & Dock Stock Performance

GLDD stock traded up $0.01 during trading on Wednesday, reaching $16.94. 974,689 shares of the company’s stock were exchanged, compared to its average volume of 1,562,568. Great Lakes Dredge & Dock has a 1-year low of $7.51 and a 1-year high of $16.99. The firm has a market cap of $1.13 billion, a PE ratio of 15.83, a P/E/G ratio of 1.26 and a beta of 1.38. The company’s fifty day moving average price is $15.28 and its 200-day moving average price is $13.24. The company has a quick ratio of 0.88, a current ratio of 1.01 and a debt-to-equity ratio of 0.73.

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

Insider Activity

In related news, SVP David Johanson sold 2,100 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $13.96, for a total value of $29,316.00. Following the completion of the sale, the senior vice president owned 91,963 shares in the company, valued at approximately $1,283,803.48. This represents a 2.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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

A number of hedge funds have recently modified their holdings of the business. Financial Management Professionals Inc. purchased a new position in shares of Great Lakes Dredge & Dock during the fourth quarter valued at $25,000. MAI Capital Management lifted its stake in Great Lakes Dredge & Dock by 79.2% in the 3rd quarter. MAI Capital Management now owns 2,161 shares of the construction company’s stock worth $26,000 after acquiring an additional 955 shares in the last quarter. Farther Finance Advisors LLC boosted its position in Great Lakes Dredge & Dock by 231.4% during the 4th quarter. Farther Finance Advisors LLC now owns 2,111 shares of the construction company’s stock worth $28,000 after acquiring an additional 1,474 shares during the period. Strs Ohio purchased a new position in Great Lakes Dredge & Dock during the 1st quarter valued at about $45,000. Finally, State of Alaska Department of Revenue acquired a new position in shares of Great Lakes Dredge & Dock in the 3rd quarter valued at about $46,000. Hedge funds and other institutional investors own 89.11% of the company’s stock.

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.