Great Lakes Dredge & Dock (NASDAQ:GLDD) Cut to Market Perform at Noble Financial

Noble Financial lowered shares of Great Lakes Dredge & Dock (NASDAQ:GLDD) from an outperform rating to a market perform rating in a report published on Thursday morning, Marketbeat.com reports.

Several other research firms have also recently issued reports on GLDD. CJS Securities upgraded Great Lakes Dredge & Dock to a “strong-buy” rating in a research report on Thursday, December 11th. JPMorgan Chase & Co. started coverage on Great Lakes Dredge & Dock in a research note on Thursday, January 22nd. They issued an “overweight” rating and a $20.00 price target on the stock. Weiss Ratings raised Great Lakes Dredge & Dock from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, January 21st. Zacks Research downgraded Great Lakes Dredge & Dock from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 3rd. Finally, Wall Street Zen lowered shares of Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research report on Saturday, January 24th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Great Lakes Dredge & Dock has an average rating of “Moderate Buy” and an average price target of $20.00.

Great Lakes Dredge & Dock Stock Performance

Shares of GLDD opened at $16.89 on Thursday. The stock has a market capitalization of $1.15 billion, a P/E ratio of 14.31, a P/E/G ratio of 1.28 and a beta of 1.42. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.06 and a current ratio of 1.20. Great Lakes Dredge & Dock has a 1 year low of $7.51 and a 1 year high of $16.99. The company’s fifty day moving average is $14.35 and its two-hundred day moving average is $12.69.

Insider Buying and Selling

In other news, SVP David Johanson sold 2,100 shares of the firm’s stock in a transaction on 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 $1,283,803.48. This trade represents a 2.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Great Lakes Dredge & Dock

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its holdings in shares of Great Lakes Dredge & Dock by 0.8% in the third quarter. Dimensional Fund Advisors LP now owns 4,323,251 shares of the construction company’s stock valued at $51,835,000 after purchasing an additional 35,044 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Great Lakes Dredge & Dock by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 3,987,334 shares of the construction company’s stock worth $52,314,000 after purchasing an additional 108,033 shares during the last quarter. American Century Companies Inc. lifted its stake in Great Lakes Dredge & Dock by 10.6% in the 3rd quarter. American Century Companies Inc. now owns 2,412,467 shares of the construction company’s stock valued at $28,925,000 after buying an additional 231,558 shares in the last quarter. Geode Capital Management LLC grew its holdings in Great Lakes Dredge & Dock by 3.2% during the 2nd quarter. Geode Capital Management LLC now owns 1,656,547 shares of the construction company’s stock valued at $20,195,000 after buying an additional 51,269 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in Great Lakes Dredge & Dock by 228.7% during the 3rd quarter. Millennium Management LLC now owns 1,146,135 shares of the construction company’s stock valued at $13,742,000 after buying an additional 797,411 shares during the last quarter. Institutional investors and hedge funds own 89.11% of the company’s stock.

Key Headlines Impacting Great Lakes Dredge & Dock

Here are the key news stories impacting Great Lakes Dredge & Dock this week:

• Positive Sentiment: Saltchuk agreed to acquire GLDD in an all-cash transaction (reported value around $1.2–$1.5B). The deal explains the recent sharp upward move as buyers price in the acquisition premium and certainty of a cash sale. Read More.
• Neutral Sentiment: Unusually large options trading was detected ahead of and around the deal announcement, signaling elevated speculative or hedge activity that can amplify intraday volatility. Read More.
• Neutral Sentiment: Analysts and commentators note GLDD’s strong backlog and elevated dredging demand ahead of Q4 earnings, but potential margin pressure from dry-docking costs could temper organic upside if investors refocus on fundamentals. Read More.
• Neutral Sentiment: Short-interest reports in recent filings contain inconsistent data (reports show 0 shares and NaN changes), so short-position signals are unclear; treat short-interest metrics with caution until corrected filings are available.
• Negative Sentiment: A shareholder rights firm launched an investigation into whether the board breached fiduciary duties in connection with the proposed sale, creating potential legal/transaction risk and a drag on sentiment until the matter is resolved. Read More.
• Negative Sentiment: Two brokerages downgraded GLDD (Texas Capital: strong-buy → hold; Noble Financial: outperform → market perform), which can weigh on near-term momentum and reduce buy-side conviction despite the takeover. Read More. • Read More.

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.