Great Lakes Dredge & Dock Corporation $GLDD Shares Sold by Harvey Partners LLC

Harvey Partners LLC cut its stake in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) by 0.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 3,700,551 shares of the construction company’s stock after selling 32,449 shares during the quarter. Great Lakes Dredge & Dock accounts for about 3.9% of Harvey Partners LLC’s portfolio, making the stock its 4th largest position. Harvey Partners LLC owned approximately 0.05% of Great Lakes Dredge & Dock worth $44,370,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of GLDD. MAI Capital Management grew its stake in shares of Great Lakes Dredge & Dock by 79.2% in the third quarter. MAI Capital Management now owns 2,161 shares of the construction company’s stock valued at $26,000 after buying an additional 955 shares in the last quarter. Strs Ohio bought a new position in Great Lakes Dredge & Dock during the 1st quarter valued at $45,000. State of Alaska Department of Revenue acquired a new position in shares of Great Lakes Dredge & Dock in the 3rd quarter worth approximately $46,000. Federated Hermes Inc. boosted its holdings 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 worth $61,000 after purchasing an additional 1,505 shares during the period. Finally, CWM LLC grew its position in shares of Great Lakes Dredge & Dock by 125.0% during the 3rd quarter. CWM LLC now owns 6,995 shares of the construction company’s stock valued at $84,000 after buying an additional 3,886 shares during the last quarter. Hedge funds and other institutional investors own 89.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Zacks Research upgraded shares of Great Lakes Dredge & Dock from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $17.00 price objective on shares of Great Lakes Dredge & Dock in a research note on Wednesday, March 4th. CJS Securities restated a “market perform” rating on shares of Great Lakes Dredge & Dock in a research report on Wednesday, March 11th. Wall Street Zen downgraded Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a report on Saturday, January 24th. Finally, Weiss Ratings upgraded Great Lakes Dredge & Dock from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, January 21st. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $17.00.

Great Lakes Dredge & Dock Stock Performance

NASDAQ GLDD opened at $16.92 on Monday. The company’s fifty day moving average is $15.73 and its two-hundred day moving average is $13.48. 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 firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 15.81, a P/E/G ratio of 1.25 and a beta of 1.38. Great Lakes Dredge & Dock Corporation has a 52-week low of $7.51 and a 52-week high of $16.99.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last issued its earnings results on Monday, February 23rd. The construction company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.10. The business had revenue of $256.45 million during the quarter, compared to analysts’ expectations of $216.30 million. Great Lakes Dredge & Dock had a return on equity of 16.46% and a net margin of 8.27%. Equities research analysts forecast that Great Lakes Dredge & Dock Corporation will post 0.69 EPS for the current year.

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.