Gabelli Funds LLC Invests $8.59 Million in Great Lakes Dredge & Dock Corporation $GLDD

Gabelli Funds LLC acquired a new position in shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 505,543 shares of the construction company’s stock, valued at approximately $8,594,000. Gabelli Funds LLC owned 0.76% of Great Lakes Dredge & Dock at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Financial Management Professionals Inc. purchased a new stake in shares of Great Lakes Dredge & Dock during the fourth quarter worth approximately $25,000. Farther Finance Advisors LLC increased its stake in Great Lakes Dredge & Dock by 231.4% in the 4th quarter. Farther Finance Advisors LLC now owns 2,111 shares of the construction company’s stock valued at $28,000 after buying an additional 1,474 shares during the period. Parallel Advisors LLC raised its position in Great Lakes Dredge & Dock by 39.0% during the 1st quarter. Parallel Advisors LLC now owns 2,304 shares of the construction company’s stock worth $39,000 after buying an additional 647 shares during the last quarter. Bogart Wealth LLC purchased a new position in Great Lakes Dredge & Dock during the 1st quarter worth $51,000. Finally, Federated Hermes Inc. lifted its stake in shares of Great Lakes Dredge & Dock by 43.5% in the 2nd quarter. Federated Hermes Inc. now owns 4,965 shares of the construction company’s stock worth $61,000 after acquiring an additional 1,505 shares during the period. Institutional investors and hedge funds own 89.11% of the company’s stock.

Great Lakes Dredge & Dock Price Performance

GLDD opened at $17.00 on Monday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.01 and a quick ratio of 0.88. The business has a 50 day simple moving average of $15.47 and a 200-day simple moving average of $16.04. The stock has a market capitalization of $1.14 billion, a P/E ratio of 15.89, a P/E/G ratio of 1.26 and a beta of 1.38. Great Lakes Dredge & Dock Corporation has a 12 month low of $8.80 and a 12 month high of $17.02.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Great Lakes Dredge & Dock to a “strong-buy” rating in a report on Saturday, April 4th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $17.00.

About Great Lakes Dredge & Dock

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.