Great Lakes Dredge & Dock (NASDAQ:GLDD) Upgraded at StockNews.com

Great Lakes Dredge & Dock (NASDAQ:GLDD) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

Separately, TheStreet upgraded Great Lakes Dredge & Dock from a “d+” rating to a “c-” rating in a report on Tuesday, February 20th.

Great Lakes Dredge & Dock Trading Down 0.1 %

Great Lakes Dredge & Dock stock traded down $0.01 during mid-day trading on Thursday, hitting $9.18. The stock had a trading volume of 582,896 shares, compared to its average volume of 387,182. The stock has a 50-day simple moving average of $8.17 and a two-hundred day simple moving average of $7.75. The stock has a market capitalization of $612.64 million, a PE ratio of 43.71, a P/E/G ratio of 1.21 and a beta of 1.00. Great Lakes Dredge & Dock has a 12 month low of $5.94 and a 12 month high of $9.78. The company has a current ratio of 1.26, a quick ratio of 1.07 and a debt-to-equity ratio of 1.07.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last posted its quarterly earnings results on Wednesday, February 14th. The construction company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.16. The business had revenue of $181.73 million for the quarter, compared to analysts’ expectations of $190.05 million. Great Lakes Dredge & Dock had a return on equity of 2.56% and a net margin of 2.36%. As a group, sell-side analysts forecast that Great Lakes Dredge & Dock will post 0.57 EPS for the current year.

Institutional Investors Weigh In On Great Lakes Dredge & Dock

A number of hedge funds and other institutional investors have recently bought and sold shares of GLDD. SG Americas Securities LLC acquired a new stake in Great Lakes Dredge & Dock in the 3rd quarter valued at approximately $230,000. Mackenzie Financial Corp acquired a new stake in Great Lakes Dredge & Dock in the 3rd quarter valued at approximately $83,000. Levin Capital Strategies L.P. increased its position in shares of Great Lakes Dredge & Dock by 66.7% during the 3rd quarter. Levin Capital Strategies L.P. now owns 25,000 shares of the construction company’s stock worth $199,000 after purchasing an additional 10,000 shares during the last quarter. Jennison Associates LLC increased its position in shares of Great Lakes Dredge & Dock by 21.0% during the 3rd quarter. Jennison Associates LLC now owns 3,932,495 shares of the construction company’s stock worth $31,342,000 after purchasing an additional 681,179 shares during the last quarter. Finally, Versor Investments LP acquired a new position in shares of Great Lakes Dredge & Dock during the 3rd quarter worth approximately $285,000. Institutional investors and hedge funds 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.