Great Lakes Dredge & Dock (NASDAQ:GLDD) Share Price Crosses Above Two Hundred Day Moving Average of $8.29

Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.29 and traded as high as $9.00. Great Lakes Dredge & Dock shares last traded at $8.78, with a volume of 945,754 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a report on Thursday, June 20th.

Great Lakes Dredge & Dock Stock Performance

The company has a 50 day simple moving average of $8.66 and a 200 day simple moving average of $8.30. The company has a quick ratio of 1.06, a current ratio of 1.25 and a debt-to-equity ratio of 0.93. The stock has a market cap of $588.35 million, a price-to-earnings ratio of 15.40, a P/E/G ratio of 0.35 and a beta of 1.14.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last released its quarterly earnings data on Tuesday, May 7th. The construction company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.25. The business had revenue of $198.66 million during the quarter, compared to analysts’ expectations of $176.45 million. Great Lakes Dredge & Dock had a net margin of 6.05% and a return on equity of 8.83%. As a group, equities research analysts forecast that Great Lakes Dredge & Dock Co. will post 0.72 EPS for the current year.

Institutional Investors Weigh In On Great Lakes Dredge & Dock

Hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Great Lakes Dredge & Dock by 23.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,955 shares of the construction company’s stock valued at $123,000 after purchasing an additional 3,011 shares during the last quarter. Quadrature Capital Ltd increased its stake in shares of Great Lakes Dredge & Dock by 23.7% in the first quarter. Quadrature Capital Ltd now owns 18,278 shares of the construction company’s stock valued at $160,000 after buying an additional 3,506 shares during the period. Essex Investment Management Co. LLC raised its holdings in Great Lakes Dredge & Dock by 1.5% in the 1st quarter. Essex Investment Management Co. LLC now owns 302,546 shares of the construction company’s stock valued at $2,647,000 after buying an additional 4,518 shares during the last quarter. Victory Capital Management Inc. boosted its position in Great Lakes Dredge & Dock by 5.7% during the 4th quarter. Victory Capital Management Inc. now owns 132,800 shares of the construction company’s stock worth $1,020,000 after buying an additional 7,200 shares during the period. Finally, SG Americas Securities LLC grew its holdings in Great Lakes Dredge & Dock by 27.6% during the 4th quarter. SG Americas Securities LLC now owns 36,761 shares of the construction company’s stock worth $282,000 after acquiring an additional 7,949 shares during the last quarter. Institutional investors and hedge funds own 89.11% of the company’s stock.

Great Lakes Dredge & Dock Company Profile

Great Lakes Dredge & Dock Corporation provides dredging services in the United States. The company engages in capital dredging that consists of port expansion projects; coastal restoration and land reclamations; trench digging for pipelines, tunnels, and cables; and other dredging related to the construction of breakwaters, jetties, canals, and other marine structures.