Great Lakes Dredge & Dock Corporation $GLDD Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC lessened its holdings in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) by 93.2% during the first quarter, HoldingsChannel.com reports. The fund owned 2,206 shares of the construction company’s stock after selling 30,431 shares during the quarter. Sterling Capital Management LLC’s holdings in Great Lakes Dredge & Dock were worth $38,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Royal Bank of Canada increased its holdings in Great Lakes Dredge & Dock by 9.9% in the 1st quarter. Royal Bank of Canada now owns 35,035 shares of the construction company’s stock valued at $305,000 after purchasing an additional 3,169 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of Great Lakes Dredge & Dock during the first quarter worth about $304,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Great Lakes Dredge & Dock by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,190 shares of the construction company’s stock worth $341,000 after buying an additional 1,653 shares during the period. Empowered Funds LLC purchased a new stake in shares of Great Lakes Dredge & Dock in the first quarter worth about $1,726,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Great Lakes Dredge & Dock by 1.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 246,766 shares of the construction company’s stock valued at $2,147,000 after buying an additional 3,042 shares in the last quarter. Institutional investors and hedge funds own 89.11% of the company’s stock.

Great Lakes Dredge & Dock Stock Performance

Shares of GLDD stock opened at $17.00 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 Corporation has a 12 month low of $8.80 and a 12 month high of $17.02. The company’s fifty day moving average price is $15.47 and its two-hundred day moving average price is $15.76. The firm has a market capitalization of $1.14 billion, a P/E ratio of 15.89, a P/E/G ratio of 1.26 and a beta of 1.38.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Wall Street Zen upgraded Great Lakes Dredge & Dock to a “strong-buy” rating in a report on Saturday, April 4th. JPMorgan Chase & Co. cut Great Lakes Dredge & Dock from a “neutral” rating to an “underweight” rating and set a $17.00 price target for the company. in a report on Thursday, March 26th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $17.00.

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.