Nwam LLC Acquires New Position in Great Lakes Dredge & Dock Corporation $GLDD

Nwam LLC acquired a new stake in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) during the fourth quarter, Holdings Channel.com reports. The fund acquired 217,450 shares of the construction company’s stock, valued at approximately $2,853,000.

A number of other hedge funds have also added to or reduced their stakes in GLDD. Financial Management Professionals Inc. bought a new position in Great Lakes Dredge & Dock in the fourth quarter valued at approximately $25,000. MAI Capital Management lifted its position in shares of Great Lakes Dredge & Dock by 79.2% during the 3rd quarter. MAI Capital Management now owns 2,161 shares of the construction company’s stock worth $26,000 after buying an additional 955 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Great Lakes Dredge & Dock by 231.4% during the 4th quarter. Farther Finance Advisors LLC now owns 2,111 shares of the construction company’s stock worth $28,000 after buying an additional 1,474 shares during the last quarter. Strs Ohio bought a new stake in shares of Great Lakes Dredge & Dock during the 1st quarter worth $45,000. Finally, State of Alaska Department of Revenue bought a new stake in shares of Great Lakes Dredge & Dock during the 3rd quarter worth $46,000. 89.11% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on GLDD shares. Noble Financial downgraded Great Lakes Dredge & Dock from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 12th. CJS Securities reaffirmed a “market perform” rating on shares of Great Lakes Dredge & Dock in a report on Wednesday, March 11th. Weiss Ratings raised shares of Great Lakes Dredge & Dock from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, January 21st. Zacks Research raised shares of Great Lakes Dredge & Dock from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Finally, JPMorgan Chase & Co. cut Great Lakes Dredge & Dock from a “neutral” rating to an “underweight” rating and set a $17.00 price target for the company. in a research note on Thursday, March 26th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $17.00.

Great Lakes Dredge & Dock Price Performance

GLDD stock opened at $17.00 on Monday. The company has a fifty day moving average price of $16.97 and a 200-day moving average price of $14.83. The company has a market capitalization of $1.14 billion, a P/E ratio of 15.89, a PEG ratio of 1.26 and a beta of 1.38. Great Lakes Dredge & Dock Corporation has a 52-week low of $8.80 and a 52-week high of $17.02. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.88 and a current ratio of 1.01.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last released its quarterly earnings results on Monday, February 23rd. The construction company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.10. Great Lakes Dredge & Dock had a net margin of 8.27% and a return on equity of 16.46%. The firm had revenue of $256.45 million during the quarter, compared to the consensus estimate of $216.30 million. As a group, equities analysts expect that Great Lakes Dredge & Dock Corporation will post 0.69 EPS for the current year.

Great Lakes Dredge & Dock Company Profile

Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) is a leading provider of dredging and maritime construction services in the United States. The company specializes in the excavation and removal of sediment from waterways, harbors, ports and coastal areas to maintain navigability and support commercial shipping. Its operations encompass both maintenance dredging—removing accumulated material to restore channel depth—and new work projects such as land reclamation and harbor deepening.

In addition to traditional dredging, Great Lakes Dredge & Dock offers a range of complementary marine construction services.