377,684 Shares in Great Lakes Dredge & Dock Corporation $GLDD Purchased by Simcoe Capital LLC

Simcoe Capital LLC bought a new position in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 377,684 shares of the construction company’s stock, valued at approximately $4,955,000. Great Lakes Dredge & Dock comprises about 4.7% of Simcoe Capital LLC’s investment portfolio, making the stock its 2nd biggest position.

Several other large investors also recently modified their holdings of the business. MAI Capital Management grew its holdings in shares of Great Lakes Dredge & Dock by 79.2% during the 3rd quarter. MAI Capital Management now owns 2,161 shares of the construction company’s stock worth $26,000 after acquiring an additional 955 shares during the period. State of Wyoming grew its holdings in shares of Great Lakes Dredge & Dock by 3.3% during the 3rd quarter. State of Wyoming now owns 36,148 shares of the construction company’s stock worth $433,000 after acquiring an additional 1,142 shares during the period. AE Wealth Management LLC grew its holdings in shares of Great Lakes Dredge & Dock by 8.1% during the 3rd quarter. AE Wealth Management LLC now owns 19,175 shares of the construction company’s stock worth $230,000 after acquiring an additional 1,443 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of Great Lakes Dredge & Dock by 231.4% during the 4th quarter. Farther Finance Advisors LLC now owns 2,111 shares of the construction company’s stock worth $28,000 after acquiring an additional 1,474 shares during the period. Finally, Raymond James Financial Inc. grew its holdings in shares of Great Lakes Dredge & Dock by 0.8% during the 3rd quarter. Raymond James Financial Inc. now owns 188,570 shares of the construction company’s stock worth $2,261,000 after acquiring an additional 1,476 shares during the period. 89.11% of the stock is owned by institutional investors.

Great Lakes Dredge & Dock Price Performance

Shares of GLDD opened at $17.00 on Wednesday. The firm has a market cap of $1.14 billion, a PE ratio of 15.89, a P/E/G ratio of 1.26 and a beta of 1.38. The company has a current ratio of 1.01, a quick ratio of 0.88 and a debt-to-equity ratio of 0.73. The firm has a fifty day simple moving average of $16.98 and a two-hundred day simple moving average of $14.96. Great Lakes Dredge & Dock Corporation has a 1-year low of $8.80 and a 1-year high of $17.02.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last posted its quarterly earnings data on Monday, February 23rd. The construction company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.20 by $0.10. The firm had revenue of $256.45 million during the quarter, compared to analyst estimates of $216.30 million. Great Lakes Dredge & Dock had a return on equity of 16.46% and a net margin of 8.27%. On average, equities analysts anticipate that Great Lakes Dredge & Dock Corporation will post 0.69 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GLDD. Zacks Research upgraded Great Lakes Dredge & Dock from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. CJS Securities reiterated a “market perform” rating on shares of Great Lakes Dredge & Dock in a report on Wednesday, March 11th. Weiss Ratings upgraded Great Lakes Dredge & Dock from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, January 21st. Wall Street Zen upgraded Great Lakes Dredge & Dock to a “strong-buy” rating in a report on Saturday, April 4th. Finally, Texas Capital cut Great Lakes Dredge & Dock from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 11th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target 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.