BNP Paribas Financial Markets Purchases 159,339 Shares of Great Lakes Dredge & Dock Corporation $GLDD

BNP Paribas Financial Markets grew its position in shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) by 37.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 589,172 shares of the construction company’s stock after acquiring an additional 159,339 shares during the period. BNP Paribas Financial Markets’ holdings in Great Lakes Dredge & Dock were worth $7,730,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Financial Management Professionals Inc. purchased a new stake in Great Lakes Dredge & Dock during the fourth quarter valued at about $25,000. Farther Finance Advisors LLC increased its stake in 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 worth $28,000 after purchasing an additional 1,474 shares during the period. MAI Capital Management increased its stake in 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 worth $26,000 after purchasing an additional 955 shares during the period. Federated Hermes Inc. increased its stake in 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. Finally, Strs Ohio purchased a new position in Great Lakes Dredge & Dock in the 1st quarter worth approximately $45,000. 89.11% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GLDD has been the topic of a number of analyst reports. Zacks Research raised Great Lakes Dredge & Dock from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Wall Street Zen raised Great Lakes Dredge & Dock to a “strong-buy” rating in a research note on Saturday, April 4th. Noble Financial cut Great Lakes Dredge & Dock from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 12th. CJS Securities reaffirmed a “market perform” rating on shares of Great Lakes Dredge & Dock in a research note on Wednesday, March 11th. Finally, Texas Capital cut Great Lakes Dredge & Dock from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 11th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $17.00.

Great Lakes Dredge & Dock Price Performance

Shares of GLDD stock opened at $8.63 on Wednesday. The firm has a market cap of $576.32 million, a P/E ratio of 8.07, a P/E/G ratio of 1.26 and a beta of 1.38. Great Lakes Dredge & Dock Corporation has a fifty-two week low of $8.80 and a fifty-two week high of $17.02. The business’s 50 day moving average price is $16.83 and its 200-day moving average price is $15.61. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.88 and a current ratio of 1.01.

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.