Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) Receives Average Rating of “Moderate Buy” from Brokerages

Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) has earned an average recommendation of “Moderate Buy” from the six analysts that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $20.00.

A number of equities research analysts have commented on the company. Noble Financial cut Great Lakes Dredge & Dock from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 12th. Wall Street Zen downgraded shares of Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research report on Saturday, January 24th. Weiss Ratings upgraded shares of Great Lakes Dredge & Dock from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, January 21st. CJS Securities raised shares of Great Lakes Dredge & Dock to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Great Lakes Dredge & Dock in a research report on Thursday, January 22nd. They set an “overweight” rating and a $20.00 target price for the company.

Insider Buying and Selling

In other news, SVP David Johanson sold 2,100 shares of the stock in a transaction that occurred 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 sale, the senior vice president directly owned 91,963 shares of the company’s stock, valued at $1,283,803.48. This represents a 2.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Great Lakes Dredge & Dock

Several large investors have recently bought and sold shares of the stock. Royal Bank of Canada boosted its holdings in Great Lakes Dredge & Dock by 9.9% during the 1st quarter. Royal Bank of Canada now owns 35,035 shares of the construction company’s stock worth $305,000 after acquiring an additional 3,169 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Great Lakes Dredge & Dock in the first quarter valued at about $304,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Great Lakes Dredge & Dock by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,190 shares of the construction company’s stock valued at $341,000 after purchasing an additional 1,653 shares in the last quarter. Empowered Funds LLC purchased a new position in Great Lakes Dredge & Dock during the first quarter worth about $1,726,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Great Lakes Dredge & Dock by 1.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 246,766 shares of the construction company’s stock worth $2,147,000 after purchasing an additional 3,042 shares in the last quarter. 89.11% of the stock is currently owned by institutional investors.

Great Lakes Dredge & Dock Stock Performance

Shares of GLDD opened at $16.89 on Monday. Great Lakes Dredge & Dock has a one year low of $7.51 and a one year high of $16.99. The company has a market cap of $1.15 billion, a PE ratio of 14.31, a P/E/G ratio of 1.28 and a beta of 1.42. The stock has a 50-day moving average of $14.67 and a 200-day moving average of $12.91. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.20 and a quick ratio of 1.06.

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.