Great Lakes Dredge & Dock (NASDAQ:GLDD) Shares Gap Up to $8.10

Shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) gapped up prior to trading on Tuesday . The stock had previously closed at $8.10, but opened at $8.84. Great Lakes Dredge & Dock shares last traded at $8.41, with a volume of 44,290 shares trading hands.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research report on Saturday, July 27th.

Great Lakes Dredge & Dock Stock Up 5.1 %

The company has a quick ratio of 1.06, a current ratio of 1.25 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $570.25 million, a P/E ratio of 14.21, a P/E/G ratio of 0.36 and a beta of 1.14. The firm has a fifty day simple moving average of $8.96 and a 200-day simple moving average of $8.55.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last posted its earnings results on Tuesday, May 7th. The construction company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.25. The business had revenue of $198.66 million during the quarter, compared to analysts’ expectations of $176.45 million. Great Lakes Dredge & Dock had a return on equity of 8.83% and a net margin of 6.05%. On average, equities research analysts expect that Great Lakes Dredge & Dock Co. will post 0.72 EPS for the current fiscal year.

Institutional Investors Weigh In On Great Lakes Dredge & Dock

Large investors have recently made changes to their positions in the stock. Innealta Capital LLC acquired a new stake in Great Lakes Dredge & Dock in the 2nd quarter valued at approximately $30,000. CWM LLC grew its stake in shares of Great Lakes Dredge & Dock by 520.5% during the 2nd quarter. CWM LLC now owns 5,051 shares of the construction company’s stock worth $44,000 after acquiring an additional 4,237 shares in the last quarter. ARS Investment Partners LLC grew its stake in shares of Great Lakes Dredge & Dock by 11.0% during the 2nd quarter. ARS Investment Partners LLC now owns 12,150 shares of the construction company’s stock worth $107,000 after acquiring an additional 1,200 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Great Lakes Dredge & Dock in the fourth quarter valued at approximately $113,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Great Lakes Dredge & Dock by 23.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,955 shares of the construction company’s stock worth $123,000 after purchasing an additional 3,011 shares in the last quarter. Institutional investors own 89.11% of the company’s stock.

Great Lakes Dredge & Dock Company Profile

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.