Great Lakes Dredge & Dock (NASDAQ:GLDD) Sets New 52-Week High – What’s Next?

Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) shares reached a new 52-week high on Tuesday . The stock traded as high as $12.27 and last traded at $12.25, with a volume of 250813 shares traded. The stock had previously closed at $12.12.

Wall Street Analysts Forecast Growth

GLDD has been the topic of a number of recent analyst reports. StockNews.com lowered shares of Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research report on Thursday, August 15th. Noble Financial increased their price target on Great Lakes Dredge & Dock from $11.00 to $14.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd.

Great Lakes Dredge & Dock Trading Up 1.2 %

The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.13 and a current ratio of 1.32. The firm has a market cap of $821.53 million, a price-to-earnings ratio of 21.33, a P/E/G ratio of 0.41 and a beta of 1.15. The company’s 50-day moving average is $10.25 and its 200-day moving average is $9.21.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last released its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.03 by $0.08. Great Lakes Dredge & Dock had a net margin of 6.61% and a return on equity of 10.05%. The business had revenue of $170.09 million for the quarter, compared to analysts’ expectations of $165.00 million. During the same period in the prior year, the firm earned $0.03 earnings per share. On average, research analysts predict that Great Lakes Dredge & Dock Co. will post 0.8 earnings per share for the current year.

Insider Transactions at Great Lakes Dredge & Dock

In other Great Lakes Dredge & Dock news, CEO Lasse Petterson sold 28,709 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $9.24, for a total transaction of $265,271.16. Following the transaction, the chief executive officer now directly owns 902,392 shares in the company, valued at approximately $8,338,102.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 128,990 shares of company stock worth $1,174,747 over the last 90 days. 2.20% of the stock is owned by insiders.

Institutional Trading of Great Lakes Dredge & Dock

Several institutional investors and hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP increased its holdings in Great Lakes Dredge & Dock by 2.6% in the fourth quarter. Wellington Management Group LLP now owns 451,626 shares of the construction company’s stock valued at $3,468,000 after purchasing an additional 11,640 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Great Lakes Dredge & Dock in the 4th quarter valued at approximately $113,000. BNP Paribas Financial Markets boosted its position in shares of Great Lakes Dredge & Dock by 96.1% during the first quarter. BNP Paribas Financial Markets now owns 106,558 shares of the construction company’s stock worth $932,000 after purchasing an additional 52,207 shares in the last quarter. Jennison Associates LLC grew its stake in Great Lakes Dredge & Dock by 1.4% in the first quarter. Jennison Associates LLC now owns 4,359,725 shares of the construction company’s stock valued at $38,148,000 after acquiring an additional 60,307 shares during the period. Finally, GSA Capital Partners LLP bought a new stake in shares of Great Lakes Dredge & Dock in the first quarter worth about $1,701,000. 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.