Great Lakes Dredge & Dock (NASDAQ:GLDD) Sets New 1-Year High at $9.80

Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $9.80 and last traded at $9.80, with a volume of 191264 shares traded. The stock had previously closed at $9.48.

Analyst Ratings Changes

Separately, StockNews.com cut Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research note on Friday, July 19th.

Great Lakes Dredge & Dock Price Performance

The company has a 50 day moving average of $8.99 and a 200-day moving average of $8.46. The stock has a market capitalization of $632.57 million, a P/E ratio of 16.56, a PEG ratio of 0.39 and a beta of 1.14. 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 (NASDAQ:GLDD) last issued its earnings results on Tuesday, May 7th. The construction company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.25. Great Lakes Dredge & Dock had a return on equity of 8.83% and a net margin of 6.05%. The firm had revenue of $198.66 million for the quarter, compared to analyst estimates of $176.45 million. Sell-side analysts predict that Great Lakes Dredge & Dock Co. will post 0.72 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. CWM LLC increased its holdings in shares of Great Lakes Dredge & Dock by 520.5% during the second quarter. CWM LLC now owns 5,051 shares of the construction company’s stock valued at $44,000 after purchasing an additional 4,237 shares during the period. ARS Investment Partners LLC increased its holdings in shares of Great Lakes Dredge & Dock by 11.0% during the second quarter. ARS Investment Partners LLC now owns 12,150 shares of the construction company’s stock valued at $107,000 after purchasing an additional 1,200 shares during the period. Quadrature Capital Ltd acquired a new position in shares of Great Lakes Dredge & Dock during the fourth quarter valued at $113,000. Bayesian Capital Management LP acquired a new position in shares of Great Lakes Dredge & Dock during the first quarter valued at $137,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Great Lakes Dredge & Dock by 23.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,955 shares of the construction company’s stock valued at $123,000 after purchasing an additional 3,011 shares during the period. 89.11% of the stock is owned by institutional investors and hedge funds.

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.