Great Lakes Dredge & Dock (NASDAQ:GLDD) Hits New 52-Week High at $10.13

Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $10.13 and last traded at $9.98, with a volume of 137790 shares traded. The stock had previously closed at $9.84.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research report on Thursday, August 15th.

Great Lakes Dredge & Dock Stock Down 1.8 %

The stock has a fifty day moving average price of $8.95 and a 200 day moving average price of $8.71. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.25 and a quick ratio of 1.06. The stock has a market capitalization of $666.74 million, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 0.36 and a beta of 1.14.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last posted its quarterly earnings data on Tuesday, August 6th. The construction company reported $0.11 earnings per share (EPS) for the quarter, beating 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 return on equity of 8.83% and a net margin of 6.05%. During the same quarter last year, the company earned $0.03 earnings per share. On average, research analysts forecast that Great Lakes Dredge & Dock Co. will post 0.72 earnings per share for the current year.

Insider Activity at Great Lakes Dredge & Dock

In related news, CEO Lasse Petterson sold 53,771 shares of Great Lakes Dredge & Dock stock in a transaction on Monday, August 19th. The stock was sold at an average price of $9.06, for a total transaction of $487,165.26. Following the completion of the sale, the chief executive officer now owns 987,758 shares of the company’s stock, valued at $8,949,087.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders sold 128,990 shares of company stock valued at $1,174,747. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Great Lakes Dredge & Dock

Several hedge funds have recently added to or reduced their stakes in GLDD. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Great Lakes Dredge & Dock by 23.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,955 shares of the construction company’s stock worth $123,000 after purchasing an additional 3,011 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Great Lakes Dredge & Dock by 5.7% during the fourth quarter. Victory Capital Management Inc. now owns 132,800 shares of the construction company’s stock worth $1,020,000 after purchasing an additional 7,200 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Great Lakes Dredge & Dock by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,090,783 shares of the construction company’s stock worth $8,377,000 after purchasing an additional 40,679 shares during the last quarter. Jump Financial LLC lifted its stake in Great Lakes Dredge & Dock by 32.6% during the fourth quarter. Jump Financial LLC now owns 50,566 shares of the construction company’s stock worth $388,000 after purchasing an additional 12,430 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Great Lakes Dredge & Dock by 4.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,356,468 shares of the construction company’s stock worth $33,458,000 after buying an additional 192,053 shares during the period. Institutional investors own 89.11% of the company’s stock.

About Great Lakes Dredge & Dock

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.