Great Lakes Dredge & Dock (GLDD) Given “Hold” Rating at Cantor Fitzgerald

Great Lakes Dredge & Dock (NASDAQ:GLDD)‘s stock had its “hold” rating reissued by equities researchers at Cantor Fitzgerald in a research report issued to clients and investors on Sunday.

Great Lakes Dredge & Dock (GLDD) opened at $5.40 on Friday. Great Lakes Dredge & Dock has a 1-year low of $3.60 and a 1-year high of $5.70. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.74 and a current ratio of 2.02.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last announced its quarterly earnings data on Tuesday, November 7th. The construction company reported ($0.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.07). The company had revenue of $163.31 million for the quarter, compared to analysts’ expectations of $175.95 million. Great Lakes Dredge & Dock had a negative return on equity of 3.02% and a negative net margin of 4.06%. The company’s revenue was down 17.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.08 earnings per share.

In other Great Lakes Dredge & Dock news, Director Robert B. Uhler bought 5,320 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The stock was purchased at an average price of $4.73 per share, with a total value of $25,163.60. Following the transaction, the director now owns 128,161 shares in the company, valued at $606,201.53. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 8.24% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Brandywine Global Investment Management LLC increased its position in Great Lakes Dredge & Dock by 2.3% during the 2nd quarter. Brandywine Global Investment Management LLC now owns 33,195 shares of the construction company’s stock worth $143,000 after purchasing an additional 755 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in Great Lakes Dredge & Dock by 0.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 221,308 shares of the construction company’s stock worth $952,000 after purchasing an additional 1,406 shares in the last quarter. OxFORD Asset Management LLP increased its position in Great Lakes Dredge & Dock by 4.1% during the 2nd quarter. OxFORD Asset Management LLP now owns 37,865 shares of the construction company’s stock worth $163,000 after purchasing an additional 1,480 shares in the last quarter. Northern Trust Corp increased its position in Great Lakes Dredge & Dock by 0.3% during the 2nd quarter. Northern Trust Corp now owns 735,756 shares of the construction company’s stock worth $3,164,000 after purchasing an additional 2,469 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Great Lakes Dredge & Dock by 5.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 52,910 shares of the construction company’s stock worth $227,000 after purchasing an additional 2,504 shares in the last quarter. 71.91% of the stock is owned by hedge funds and other institutional investors.

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About Great Lakes Dredge & Dock

Great Lakes Dredge & Dock Corporation is a provider of dredging services. The Company provides dredging services in the East, West and Gulf Coasts of the United States and around the world. It operates in two segments: Dredging Operations, which involves enhancement or preservation of navigability of waterways or the protection of shorelines through the removal or replenishment of soil, sand or rock, and Environmental & Remediation Operations, which provides construction services on soil, water and sediment for clients in both the public and private sectors.

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