Great Lakes Dredge & Dock (GLDD) Upgraded at BidaskClub

Great Lakes Dredge & Dock (NASDAQ:GLDD) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a report released on Friday.

Separately, Cantor Fitzgerald reissued a “hold” rating on shares of Great Lakes Dredge & Dock in a research report on Sunday, December 31st.

Shares of Great Lakes Dredge & Dock (GLDD) remained flat at $$5.05 during mid-day trading on Friday. The stock had a trading volume of 148,009 shares, compared to its average volume of 187,727. The firm has a market cap of $311.46, a P/E ratio of -10.52 and a beta of 0.84. The company has a quick ratio of 1.74, a current ratio of 2.02 and a debt-to-equity ratio of 1.85. Great Lakes Dredge & Dock has a one year low of $3.60 and a one year high of $5.70.

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

In other Great Lakes Dredge & Dock news, Director Robert B. Uhler purchased 5,320 shares of the stock in a transaction dated Friday, November 10th. The shares were bought at an average price of $4.73 per share, with a total value of $25,163.60. Following the completion of the transaction, the director now directly owns 128,161 shares in the company, valued at approximately $606,201.53. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 8.24% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Menta Capital LLC raised its position in shares of Great Lakes Dredge & Dock by 53.0% in the second quarter. Menta Capital LLC now owns 58,536 shares of the construction company’s stock valued at $252,000 after purchasing an additional 20,270 shares during the period. Private Management Group Inc. increased its holdings in Great Lakes Dredge & Dock by 65.9% during the 3rd quarter. Private Management Group Inc. now owns 1,596,569 shares of the construction company’s stock worth $7,743,000 after acquiring an additional 633,921 shares during the period. Quantum Capital Management increased its holdings in Great Lakes Dredge & Dock by 1,714.6% during the 3rd quarter. Quantum Capital Management now owns 315,743 shares of the construction company’s stock worth $1,531,000 after acquiring an additional 298,343 shares during the period. Blackstone Group L.P. bought a new stake in Great Lakes Dredge & Dock during the 3rd quarter worth approximately $1,841,000. Finally, Vanguard Group Inc. increased its holdings in Great Lakes Dredge & Dock by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 2,447,406 shares of the construction company’s stock worth $10,523,000 after acquiring an additional 79,258 shares during the period. 71.91% of the stock is currently owned by 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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