Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) Given Average Rating of “Hold” by Analysts

Shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) have been assigned an average recommendation of “Hold” from the six ratings firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $17.00.

Several brokerages recently weighed in on GLDD. Zacks Research raised Great Lakes Dredge & Dock from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. JPMorgan Chase & Co. cut Great Lakes Dredge & Dock from a “neutral” rating to an “underweight” rating and set a $17.00 target price for the company. in a research note on Thursday, March 26th. CJS Securities reaffirmed a “market perform” rating on shares of Great Lakes Dredge & Dock in a research note on Wednesday, March 11th. Texas Capital cut Great Lakes Dredge & Dock from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 11th. Finally, Weiss Ratings raised Great Lakes Dredge & Dock from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, January 21st.

Institutional Investors Weigh In On Great Lakes Dredge & Dock

Several hedge funds have recently modified their holdings of GLDD. Royal Bank of Canada lifted its holdings in shares of Great Lakes Dredge & Dock by 9.9% during the first quarter. Royal Bank of Canada now owns 35,035 shares of the construction company’s stock valued at $305,000 after purchasing an additional 3,169 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Great Lakes Dredge & Dock during the first quarter valued at $304,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Great Lakes Dredge & Dock by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,190 shares of the construction company’s stock valued at $341,000 after purchasing an additional 1,653 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of Great Lakes Dredge & Dock during the first quarter valued at $1,726,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Great Lakes Dredge & Dock by 1.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 246,766 shares of the construction company’s stock valued at $2,147,000 after purchasing an additional 3,042 shares during the last quarter. 89.11% of the stock is owned by hedge funds and other institutional investors.

Great Lakes Dredge & Dock Stock Performance

Shares of GLDD stock opened at $17.00 on Friday. The stock has a 50-day simple moving average of $16.97 and a 200 day simple moving average of $14.83. Great Lakes Dredge & Dock has a fifty-two week low of $8.80 and a fifty-two week high of $17.02. 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. The company has a quick ratio of 0.88, a current ratio of 1.01 and a debt-to-equity ratio of 0.73.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last announced its earnings results on Monday, February 23rd. The construction company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.10. Great Lakes Dredge & Dock had a return on equity of 16.46% and a net margin of 8.27%.The business had revenue of $256.45 million during the quarter, compared to analysts’ expectations of $216.30 million. On average, sell-side analysts expect that Great Lakes Dredge & Dock will post 0.69 earnings per share for the current fiscal 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.