Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) Given Consensus Rating of “Hold” by Brokerages

Shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) have been assigned an average recommendation of “Hold” from the six brokerages that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $17.00.

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut shares of Great Lakes Dredge & Dock from a “neutral” rating to an “underweight” rating and set a $17.00 target price for the company. in a report on Thursday, March 26th. CJS Securities restated a “market perform” rating on shares of Great Lakes Dredge & Dock in a report on Wednesday, March 11th. Zacks Research upgraded shares of Great Lakes Dredge & Dock from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Finally, Wall Street Zen upgraded shares of Great Lakes Dredge & Dock to a “strong-buy” rating in a report on Saturday, April 4th.

Great Lakes Dredge & Dock Price Performance

Shares of GLDD opened at $17.00 on Friday. Great Lakes Dredge & Dock has a fifty-two week low of $8.80 and a fifty-two week high of $17.02. The firm’s 50 day moving average price is $15.47 and its 200 day moving average price is $15.52. The company has a market cap of $1.14 billion, a P/E ratio of 15.89, a PEG ratio of 1.26 and a beta of 1.38. The company has a quick ratio of 0.88, a current ratio of 1.01 and a debt-to-equity ratio of 0.73.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Parallel Advisors LLC boosted its holdings in shares of Great Lakes Dredge & Dock by 39.0% in the 1st quarter. Parallel Advisors LLC now owns 2,304 shares of the construction company’s stock valued at $39,000 after buying an additional 647 shares in the last quarter. ProShare Advisors LLC boosted its holdings in shares of Great Lakes Dredge & Dock by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 12,168 shares of the construction company’s stock valued at $160,000 after buying an additional 786 shares in the last quarter. MAI Capital Management boosted its holdings in shares of Great Lakes Dredge & Dock by 79.2% in the 3rd quarter. MAI Capital Management now owns 2,161 shares of the construction company’s stock valued at $26,000 after buying an additional 955 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Great Lakes Dredge & Dock by 231.4% in the 4th quarter. Farther Finance Advisors LLC now owns 2,111 shares of the construction company’s stock valued at $28,000 after buying an additional 1,474 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its holdings in shares of Great Lakes Dredge & Dock by 0.8% in the 3rd quarter. Raymond James Financial Inc. now owns 188,570 shares of the construction company’s stock valued at $2,261,000 after buying an additional 1,476 shares in the last quarter. Institutional investors and hedge funds own 89.11% of the company’s stock.

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.