Great Lakes Dredge & Dock (NASDAQ:GLDD) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of Great Lakes Dredge & Dock (NASDAQ:GLDD) from a hold rating to a buy rating in a research report sent to investors on Wednesday.

Great Lakes Dredge & Dock Stock Down 2.0 %

Shares of NASDAQ:GLDD traded down $0.18 on Wednesday, hitting $8.73. 382,485 shares of the company’s stock were exchanged, compared to its average volume of 404,266. Great Lakes Dredge & Dock has a 1-year low of $6.11 and a 1-year high of $9.93. The company has a market capitalization of $584.99 million, a PE ratio of 15.32, a P/E/G ratio of 0.36 and a beta of 1.14. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.06 and a current ratio of 1.25. The firm’s 50-day moving average is $8.90 and its 200 day moving average is $8.57.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last announced its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.08. Great Lakes Dredge & Dock had a return on equity of 8.83% and a net margin of 6.05%. The firm had revenue of $170.09 million during the quarter, compared to the consensus estimate of $165.00 million. During the same period in the prior year, the company posted $0.03 earnings per share. Sell-side analysts predict that Great Lakes Dredge & Dock will post 0.72 EPS for the current year.

Institutional Investors Weigh In On Great Lakes Dredge & Dock

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Great Lakes Dredge & Dock by 4.1% in the 3rd quarter. Vanguard Group Inc. now owns 3,283,730 shares of the construction company’s stock valued at $26,171,000 after purchasing an additional 130,571 shares during the last quarter. SG Americas Securities LLC lifted its stake in Great Lakes Dredge & Dock by 27.6% in the fourth quarter. SG Americas Securities LLC now owns 36,761 shares of the construction company’s stock valued at $282,000 after buying an additional 7,949 shares during the last quarter. Canton Hathaway LLC boosted its holdings in shares of Great Lakes Dredge & Dock by 28.9% in the fourth quarter. Canton Hathaway LLC now owns 40,100 shares of the construction company’s stock valued at $308,000 after acquiring an additional 9,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of 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 acquiring an additional 3,011 shares during the last quarter. Finally, Knights of Columbus Asset Advisors LLC grew its position in shares of Great Lakes Dredge & Dock by 94.6% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 502,882 shares of the construction company’s stock worth $3,862,000 after acquiring an additional 244,417 shares during the last quarter. 89.11% of the stock is owned by hedge funds and other institutional investors.

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.