Great Lakes Dredge & Dock (NASDAQ:GLDD) Reaches New 1-Year High at $11.39

Shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) hit a new 52-week high during trading on Wednesday . The company traded as high as $11.39 and last traded at $11.38, with a volume of 142240 shares. The stock had previously closed at $10.72.

Analyst Ratings Changes

A number of brokerages recently weighed in on GLDD. StockNews.com downgraded shares of Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research report on Thursday, August 15th. Noble Financial raised their target price on Great Lakes Dredge & Dock from $11.00 to $14.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd.

Great Lakes Dredge & Dock Stock Up 9.6 %

The company has a fifty day simple moving average of $9.49 and a 200-day simple moving average of $8.90. The company has a quick ratio of 1.13, a current ratio of 1.32 and a debt-to-equity ratio of 0.98. The firm has a market cap of $787.36 million, a P/E ratio of 20.16, a price-to-earnings-growth ratio of 0.38 and a beta of 1.15.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last released its earnings results on Tuesday, August 6th. The construction company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.08. The company had revenue of $170.09 million during the quarter, compared to analyst estimates of $165.00 million. Great Lakes Dredge & Dock had a net margin of 6.61% and a return on equity of 10.05%. During the same period in the prior year, the firm posted $0.03 EPS. On average, equities analysts anticipate that Great Lakes Dredge & Dock Co. will post 0.8 earnings per share for the current year.

Insider Activity

In other news, CEO Lasse Petterson sold 46,510 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $9.08, for a total value of $422,310.80. Following the transaction, the chief executive officer now owns 931,101 shares of the company’s stock, valued at $8,454,397.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 128,990 shares of company stock worth $1,174,747 over the last ninety days. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Algert Global LLC purchased a new stake in Great Lakes Dredge & Dock during the 2nd quarter valued at $2,192,000. Sanctuary Advisors LLC bought a new position in Great Lakes Dredge & Dock during the second quarter valued at $2,057,000. Marshall Wace LLP purchased a new stake in shares of Great Lakes Dredge & Dock in the second quarter valued at $1,823,000. GSA Capital Partners LLP bought a new stake in shares of Great Lakes Dredge & Dock in the 1st quarter worth about $1,701,000. Finally, AQR Capital Management LLC raised its position in Great Lakes Dredge & Dock by 379.3% in the 2nd quarter. AQR Capital Management LLC now owns 208,218 shares of the construction company’s stock worth $1,828,000 after purchasing an additional 164,780 shares during the period. 89.11% of the stock is currently owned by institutional investors.

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.