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

Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) has been given an average recommendation of “Hold” by the six brokerages that are presently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $17.00.

Several brokerages recently weighed in on GLDD. CJS Securities restated a “market perform” rating on shares of Great Lakes Dredge & Dock in a research note on Wednesday, March 11th. Texas Capital lowered Great Lakes Dredge & Dock from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 11th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $17.00 price objective on shares of Great Lakes Dredge & Dock in a research report on Wednesday, March 4th. Weiss Ratings upgraded shares of Great Lakes Dredge & Dock from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, January 21st. 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.

Great Lakes Dredge & Dock Stock Up 0.1%

Great Lakes Dredge & Dock stock opened at $16.97 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.01 and a quick ratio of 0.88. Great Lakes Dredge & Dock has a fifty-two week low of $7.51 and a fifty-two week high of $16.99. The firm has a fifty day moving average price of $16.23 and a two-hundred day moving average price of $13.74. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of 15.86, a P/E/G ratio of 1.26 and a beta of 1.38.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last issued its quarterly earnings results on Monday, February 23rd. The construction company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.10. The company had revenue of $256.45 million for the quarter, compared to the consensus estimate of $216.30 million. Great Lakes Dredge & Dock had a return on equity of 16.46% and a net margin of 8.27%. As a group, analysts forecast that Great Lakes Dredge & Dock will post 0.69 earnings per share for the current year.

Institutional Trading of Great Lakes Dredge & Dock

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Millennium Management LLC raised its position in shares of Great Lakes Dredge & Dock by 228.7% during the third 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. Arrowstreet Capital Limited Partnership lifted its stake in shares of Great Lakes Dredge & Dock by 680.1% in the second quarter. Arrowstreet Capital Limited Partnership now owns 841,140 shares of the construction company’s stock valued at $10,253,000 after buying an additional 733,312 shares during the period. Cubist Systematic Strategies LLC grew its position in Great Lakes Dredge & Dock by 404.0% during the second quarter. Cubist Systematic Strategies LLC now owns 492,191 shares of the construction company’s stock worth $6,000,000 after buying an additional 394,543 shares in the last quarter. Simcoe Capital LLC acquired a new stake in Great Lakes Dredge & Dock during the fourth quarter worth about $4,955,000. Finally, Goldman Sachs Group Inc. increased its stake in Great Lakes Dredge & Dock by 120.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 634,720 shares of the construction company’s stock valued at $8,328,000 after acquiring an additional 347,334 shares during the period. 89.11% of the stock is currently owned by institutional investors and hedge funds.

About Great Lakes Dredge & Dock

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.