Great Lakes Dredge & Dock (NASDAQ:GLDD) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Great Lakes Dredge & Dock (NASDAQ:GLDD) from a hold rating to a buy rating in a report published on Wednesday.

Separately, TheStreet upgraded shares of Great Lakes Dredge & Dock from a d+ rating to a c- rating in a research note on Tuesday, February 20th.

Great Lakes Dredge & Dock Trading Down 4.5 %

Shares of NASDAQ:GLDD opened at $8.78 on Wednesday. Great Lakes Dredge & Dock has a 1 year low of $6.11 and a 1 year high of $9.78. The stock’s fifty day moving average price is $8.46 and its 200-day moving average price is $8.16. The company has a market cap of $588.34 million, a P/E ratio of 15.40, a PEG ratio of 0.36 and a beta of 1.14. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.25 and a quick ratio of 1.06.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last issued its quarterly earnings data on Tuesday, May 7th. The construction company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.25. The company had revenue of $198.66 million for the quarter, compared to the consensus estimate of $176.45 million. Great Lakes Dredge & Dock had a net margin of 6.05% and a return on equity of 8.83%. Sell-side analysts expect that Great Lakes Dredge & Dock will post 0.72 earnings per share for the current year.

Institutional Investors Weigh In On Great Lakes Dredge & Dock

Several institutional investors and hedge funds have recently modified their holdings of GLDD. Acuitas Investments LLC purchased a new stake in Great Lakes Dredge & Dock in the 4th quarter worth $2,416,000. Private Management Group Inc. increased its stake in Great Lakes Dredge & Dock by 18.0% in the 4th quarter. Private Management Group Inc. now owns 1,223,133 shares of the construction company’s stock worth $9,394,000 after acquiring an additional 186,653 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Great Lakes Dredge & Dock by 45.2% during the 3rd quarter. Wellington Management Group LLP now owns 439,986 shares of the construction company’s stock valued at $3,507,000 after acquiring an additional 136,901 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Great Lakes Dredge & Dock by 9.3% in the fourth quarter. Jennison Associates LLC now owns 4,299,418 shares of the construction company’s stock valued at $33,020,000 after purchasing an additional 366,923 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Great Lakes Dredge & Dock by 4.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,050,104 shares of the construction company’s stock worth $8,369,000 after purchasing an additional 48,091 shares during the last quarter. Institutional investors own 89.11% of the company’s stock.

About Great Lakes Dredge & Dock

Great Lakes Dredge & Dock Corporation provides dredging services in the United States. The company engages 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.