A number of other research analysts also recently commented on the stock. ValuEngine raised shares of Great Lakes Dredge & Dock from a sell rating to a hold rating in a research report on Friday, November 1st. Noble Financial restated a buy rating and issued a $13.80 price objective on shares of Great Lakes Dredge & Dock in a research note on Sunday, October 6th. Finally, Zacks Investment Research cut Great Lakes Dredge & Dock from a buy rating to a hold rating and set a $12.00 target price on the stock. in a research report on Thursday, October 31st.
Shares of NASDAQ:GLDD traded down $0.04 on Tuesday, hitting $11.57. 13,100 shares of the company’s stock were exchanged, compared to its average volume of 380,069. Great Lakes Dredge & Dock has a 1-year low of $6.09 and a 1-year high of $11.94. The company has a market capitalization of $744.67 million, a PE ratio of 32.08 and a beta of 0.48. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.24 and a current ratio of 1.36. The firm’s 50-day moving average is $10.51 and its 200 day moving average is $10.60.
Great Lakes Dredge & Dock (NASDAQ:GLDD) last announced its quarterly earnings results on Tuesday, November 5th. The construction company reported $0.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.02. Great Lakes Dredge & Dock had a return on equity of 20.57% and a net margin of 3.56%. The firm had revenue of $169.80 million during the quarter, compared to the consensus estimate of $178.50 million. During the same period in the prior year, the company posted $0.18 earnings per share. The firm’s quarterly revenue was down 5.0% compared to the same quarter last year. On average, analysts anticipate that Great Lakes Dredge & Dock will post 0.74 EPS for the current fiscal year.
In related news, SVP Kathleen Mackie Lavoy sold 11,050 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $11.81, for a total transaction of $130,500.50. Following the transaction, the senior vice president now owns 106,257 shares of the company’s stock, valued at $1,254,895.17. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ryan Levenson purchased 32,625 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was bought at an average price of $10.58 per share, for a total transaction of $345,172.50. Following the transaction, the director now directly owns 35,816 shares in the company, valued at $378,933.28. The disclosure for this purchase can be found here. Insiders sold a total of 30,905 shares of company stock worth $359,777 over the last ninety days. Corporate insiders own 4.66% of the company’s stock.
Several large investors have recently added to or reduced their stakes in GLDD. Nkcfo LLC acquired a new position in Great Lakes Dredge & Dock in the 2nd quarter valued at $52,000. Canton Hathaway LLC grew its holdings in Great Lakes Dredge & Dock by 50.0% during the third quarter. Canton Hathaway LLC now owns 5,220 shares of the construction company’s stock worth $55,000 after acquiring an additional 1,740 shares during the period. Hancock Whitney Corp purchased a new position in Great Lakes Dredge & Dock in the second quarter worth $125,000. One Wealth Advisors LLC acquired a new stake in Great Lakes Dredge & Dock in the second quarter valued at $139,000. Finally, Aperio Group LLC purchased a new stake in shares of Great Lakes Dredge & Dock during the 2nd quarter worth $187,000. 87.58% of the stock is currently owned by institutional investors and hedge funds.
About Great Lakes Dredge & Dock
Great Lakes Dredge & Dock Corporation provides dredging services in the United States and internationally. The company is involved in capital dredging that consists of port expansion projects, coastal restoration and land reclamations, trench digging for pipelines, tunnels and cables, and other dredging related to the construction of breakwaters, jetties, canals, and other marine structures.
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