SG Americas Securities LLC Reduces Position in Great Lakes Dredge & Dock Corporation $GLDD

SG Americas Securities LLC lessened its holdings in shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) by 73.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,615 shares of the construction company’s stock after selling 78,231 shares during the quarter. SG Americas Securities LLC’s holdings in Great Lakes Dredge & Dock were worth $469,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Financial Management Professionals Inc. purchased a new stake in shares of Great Lakes Dredge & Dock during the 4th quarter valued at approximately $25,000. Farther Finance Advisors LLC boosted its holdings 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 worth $28,000 after buying an additional 1,474 shares during the period. Federated Hermes Inc. grew its stake in 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 valued at $61,000 after buying an additional 1,505 shares in the last quarter. Strs Ohio purchased a new position in Great Lakes Dredge & Dock in the 1st quarter valued at approximately $45,000. Finally, New York State Teachers Retirement System bought a new stake in Great Lakes Dredge & Dock during the 4th quarter valued at $80,000. Hedge funds and other institutional investors own 89.11% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Wall Street Zen upgraded Great Lakes Dredge & Dock to a “strong-buy” rating in a research report on Saturday, April 4th. JPMorgan Chase & Co. cut Great Lakes Dredge & Dock from a “neutral” rating to an “underweight” rating and set a $17.00 price target for the company. in a research report on Thursday, March 26th. Finally, CJS Securities reiterated a “market perform” rating on shares of Great Lakes Dredge & Dock in a research note on Wednesday, March 11th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $17.00.

Great Lakes Dredge & Dock Price Performance

Shares of NASDAQ:GLDD opened at $17.00 on Thursday. The firm has a fifty day moving average price of $15.47 and a two-hundred day moving average price of $15.73. 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 one year low of $8.80 and a one year high of $17.02. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 15.89, a PEG ratio of 1.26 and a beta of 1.38.

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.