Y Intercept Hong Kong Ltd Takes $1.23 Million Position in Great Lakes Dredge & Dock Corporation $GLDD

Y Intercept Hong Kong Ltd bought a new position in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 102,318 shares of the construction company’s stock, valued at approximately $1,227,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GLDD. Strs Ohio purchased a new position in Great Lakes Dredge & Dock in the 1st quarter worth approximately $45,000. State of Alaska Department of Revenue purchased a new stake in Great Lakes Dredge & Dock during the third quarter valued at $46,000. Federated Hermes Inc. lifted its stake in shares of Great Lakes Dredge & Dock by 43.5% in the 2nd quarter. Federated Hermes Inc. now owns 4,965 shares of the construction company’s stock worth $61,000 after purchasing an additional 1,505 shares during the period. CWM LLC boosted its stake in shares of Great Lakes Dredge & Dock by 125.0% during the 3rd quarter. CWM LLC now owns 6,995 shares of the construction company’s stock worth $84,000 after acquiring an additional 3,886 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Great Lakes Dredge & Dock by 5,519.6% during the second quarter. Russell Investments Group Ltd. now owns 9,160 shares of the construction company’s stock valued at $112,000 after purchasing an additional 8,997 shares in the last quarter. Institutional investors own 89.11% of the company’s stock.

Analysts Set New Price Targets

GLDD has been the topic of several analyst reports. Weiss Ratings raised shares of Great Lakes Dredge & Dock from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, January 21st. Noble Financial reaffirmed an “outperform” rating on shares of Great Lakes Dredge & Dock in a report on Thursday. CJS Securities upgraded Great Lakes Dredge & Dock to a “strong-buy” rating in a report on Thursday, December 11th. Wall Street Zen cut Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a report on Saturday, January 24th. Finally, Zacks Research downgraded Great Lakes Dredge & Dock from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $20.00.

Great Lakes Dredge & Dock Price Performance

GLDD stock opened at $14.98 on Friday. The stock has a market cap of $1.02 billion, a PE ratio of 12.70, a P/E/G ratio of 1.11 and a beta of 1.40. Great Lakes Dredge & Dock Corporation has a 12 month low of $7.51 and a 12 month high of $16.72. The company has a 50-day moving average price of $13.71 and a 200 day moving average price of $12.37. The company has a current ratio of 1.20, a quick ratio of 1.06 and a debt-to-equity ratio of 0.83.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last announced its quarterly earnings data on Tuesday, November 4th. The construction company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.09. The business had revenue of $195.21 million during the quarter, compared to the consensus estimate of $201.30 million. Great Lakes Dredge & Dock had a net margin of 9.65% and a return on equity of 16.84%. Equities research analysts anticipate that Great Lakes Dredge & Dock Corporation 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 10,000 shares of Great Lakes Dredge & Dock stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $13.02, for a total transaction of $130,200.00. Following the completion of the sale, the senior vice president directly owned 94,063 shares in the company, valued at approximately $1,224,700.26. This trade represents a 9.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.20% of the stock is currently owned by insiders.

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.