Next Century Growth Investors LLC Lowers Holdings in Great Lakes Dredge & Dock Corporation $GLDD

Next Century Growth Investors LLC decreased its stake in shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) by 93.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,520 shares of the construction company’s stock after selling 416,301 shares during the quarter. Next Century Growth Investors LLC’s holdings in Great Lakes Dredge & Dock were worth $400,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. ProShare Advisors LLC raised its stake 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 buying an additional 786 shares during the last quarter. MAI Capital Management raised its stake in Great Lakes Dredge & Dock by 79.2% during 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 during the last quarter. Farther Finance Advisors LLC raised its stake in Great Lakes Dredge & Dock by 231.4% during the fourth 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 last quarter. Raymond James Financial Inc. raised its stake in Great Lakes Dredge & Dock by 0.8% during the third quarter. Raymond James Financial Inc. now owns 188,570 shares of the construction company’s stock valued at $2,261,000 after buying an additional 1,476 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in Great Lakes Dredge & Dock by 43.5% during the second quarter. Federated Hermes Inc. now owns 4,965 shares of the construction company’s stock valued at $61,000 after buying an additional 1,505 shares during the last quarter. Hedge funds and other institutional investors own 89.11% of the company’s stock.

Great Lakes Dredge & Dock Stock Up 8.2%

GLDD stock opened at $9.60 on Monday. Great Lakes Dredge & Dock Corporation has a 1-year low of $8.80 and a 1-year high of $17.02. The business has a fifty day moving average price of $16.36 and a 200-day moving average price of $15.56. 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 stock has a market capitalization of $641.10 million, a P/E ratio of 8.97, a P/E/G ratio of 1.26 and a beta of 1.38.

Analyst Ratings Changes

A number of brokerages have issued reports on GLDD. Zacks Research upgraded 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 price objective for the company. in a research note on Thursday, March 26th. Wall Street Zen upgraded Great Lakes Dredge & Dock to a “strong-buy” rating in a research note on Saturday, April 4th. Finally, CJS Securities restated a “market perform” rating on shares of Great Lakes Dredge & Dock in a research note on Wednesday, March 11th. One research 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 MarketBeat, the stock has a consensus rating of “Hold” and an average target price 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.