Great Lakes Dredge & Dock (NASDAQ:GLDD) Lifted 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 Thursday morning.

Great Lakes Dredge & Dock Stock Performance

NASDAQ:GLDD opened at $8.68 on Thursday. The company has a quick ratio of 1.06, a current ratio of 1.25 and a debt-to-equity ratio of 0.93. Great Lakes Dredge & Dock has a fifty-two week low of $6.11 and a fifty-two week high of $9.78. The firm’s fifty day simple moving average is $8.93 and its 200-day simple moving average is $8.37. The stock has a market cap of $581.65 million, a PE ratio of 15.23, a price-to-earnings-growth ratio of 0.34 and a beta of 1.14.

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 (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.25. The firm 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%. Analysts expect that Great Lakes Dredge & Dock will post 0.72 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Great Lakes Dredge & Dock by 23.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,955 shares of the construction company’s stock worth $123,000 after acquiring an additional 3,011 shares during the period. Quadrature Capital Ltd grew its holdings in Great Lakes Dredge & Dock by 23.7% during the 1st quarter. Quadrature Capital Ltd now owns 18,278 shares of the construction company’s stock valued at $160,000 after purchasing an additional 3,506 shares in the last quarter. CWM LLC increased its stake in 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 buying an additional 4,237 shares during the period. Essex Investment Management Co. LLC lifted its holdings in Great Lakes Dredge & Dock by 1.5% in the 1st quarter. Essex Investment Management Co. LLC now owns 302,546 shares of the construction company’s stock worth $2,647,000 after buying an additional 4,518 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in Great Lakes Dredge & Dock by 5.7% in the 4th quarter. Victory Capital Management Inc. now owns 132,800 shares of the construction company’s stock valued at $1,020,000 after buying an additional 7,200 shares during the last quarter. Institutional investors and hedge funds 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.