Great Lakes Dredge & Dock (NASDAQ:GLDD) Shares Gap Up to $7.04

Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $7.04, but opened at $8.00. Great Lakes Dredge & Dock shares last traded at $9.29, with a volume of 421,079 shares.

Wall Street Analysts Forecast Growth

GLDD has been the subject of a number of research reports. StockNews.com raised shares of Great Lakes Dredge & Dock from a “sell” rating to a “hold” rating in a report on Thursday, February 15th. TheStreet upgraded shares of Great Lakes Dredge & Dock from a “d+” rating to a “c-” rating in a research note on Tuesday, February 20th.

Great Lakes Dredge & Dock Stock Down 0.1 %

The company has a debt-to-equity ratio of 1.07, a current ratio of 1.26 and a quick ratio of 1.07. The business has a 50 day moving average of $8.17 and a 200 day moving average of $7.75. The firm has a market capitalization of $612.64 million, a price-to-earnings ratio of 43.71, a price-to-earnings-growth ratio of 1.21 and a beta of 1.00.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last released its quarterly earnings data on Wednesday, February 14th. The construction company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.16. The company had revenue of $181.73 million during the quarter, compared to the consensus estimate of $190.05 million. Great Lakes Dredge & Dock had a net margin of 2.36% and a return on equity of 2.56%. On average, equities analysts anticipate that Great Lakes Dredge & Dock Co. will post 0.57 EPS for the current year.

Institutional Trading of Great Lakes Dredge & Dock

A number of large investors have recently bought and sold shares of GLDD. Jennison Associates LLC increased its holdings in Great Lakes Dredge & Dock by 1.4% during the 1st quarter. Jennison Associates LLC now owns 4,359,725 shares of the construction company’s stock valued at $38,148,000 after purchasing an additional 60,307 shares in the last quarter. Dimensional Fund Advisors LP raised 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 valued at $33,458,000 after buying an additional 192,053 shares during the last quarter. Vanguard Group Inc. lifted its position in Great Lakes Dredge & Dock by 4.1% during the 3rd quarter. Vanguard Group Inc. now owns 3,283,730 shares of the construction company’s stock worth $26,171,000 after buying an additional 130,571 shares in the last quarter. Private Management Group Inc. lifted its position in Great Lakes Dredge & Dock by 18.0% during the 4th quarter. Private Management Group Inc. now owns 1,223,133 shares of the construction company’s stock worth $9,394,000 after buying an additional 186,653 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Great Lakes Dredge & Dock by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,090,783 shares of the construction company’s stock worth $8,377,000 after acquiring an additional 40,679 shares during the last quarter. 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.