Lazard Asset Management LLC Grows Stock Holdings in Great Lakes Dredge & Dock Corporation $GLDD

Lazard Asset Management LLC grew its position in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) by 19.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 269,389 shares of the construction company’s stock after buying an additional 43,114 shares during the period. Lazard Asset Management LLC’s holdings in Great Lakes Dredge & Dock were worth $4,580,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of GLDD. Parallel Advisors LLC grew its position in shares of Great Lakes Dredge & Dock by 39.0% in 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. ProShare Advisors LLC lifted its position in Great Lakes Dredge & Dock by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 12,168 shares of the construction company’s stock valued at $160,000 after acquiring an additional 786 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Great Lakes Dredge & Dock by 231.4% in the fourth quarter. Farther Finance Advisors LLC now owns 2,111 shares of the construction company’s stock valued at $28,000 after acquiring an additional 1,474 shares in the last quarter. Raymond James Financial Inc. boosted its stake in Great Lakes Dredge & Dock by 0.8% in the third quarter. Raymond James Financial Inc. now owns 188,570 shares of the construction company’s stock valued at $2,261,000 after acquiring an additional 1,476 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in Great Lakes Dredge & Dock by 43.5% in the second quarter. Federated Hermes Inc. now owns 4,965 shares of the construction company’s stock valued at $61,000 after acquiring an additional 1,505 shares in the last quarter. Hedge funds and other institutional investors own 89.11% of the company’s stock.

Great Lakes Dredge & Dock Price Performance

Shares of GLDD opened at $17.00 on Friday. The firm has a market capitalization of $1.14 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 1.26 and a beta of 1.38. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.01 and a quick ratio of 0.88. Great Lakes Dredge & Dock Corporation has a 1-year low of $8.80 and a 1-year high of $17.02. The company’s fifty day moving average price is $15.47 and its 200-day moving average price is $16.15.

Wall Street Analyst Weigh In

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

Great Lakes Dredge & Dock 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.