Great Lakes Dredge & Dock (GLDD) Rating Lowered to Strong Sell at BidaskClub

Great Lakes Dredge & Dock (NASDAQ:GLDD) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Monday, February 5th.

Several other equities research analysts have also issued reports on GLDD. Noble Financial began coverage on shares of Great Lakes Dredge & Dock in a research note on Thursday, January 25th. They issued a “buy” rating and a $7.50 price objective for the company. Cantor Fitzgerald reiterated a “hold” rating on shares of Great Lakes Dredge & Dock in a report on Sunday, December 31st.

Great Lakes Dredge & Dock (GLDD) traded down $0.05 during mid-day trading on Monday, hitting $4.35. 262,157 shares of the company traded hands, compared to its average volume of 229,385. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.74 and a current ratio of 2.02. Great Lakes Dredge & Dock has a 1-year low of $3.60 and a 1-year high of $5.70. The firm has a market cap of $271.37, a price-to-earnings ratio of -9.06 and a beta of 0.66.

Several large investors have recently bought and sold shares of the company. Brandywine Global Investment Management LLC increased its holdings in shares of Great Lakes Dredge & Dock by 2.3% during the 2nd quarter. Brandywine Global Investment Management LLC now owns 33,195 shares of the construction company’s stock worth $143,000 after purchasing an additional 755 shares during the period. Schwab Charles Investment Management Inc. increased its stake in Great Lakes Dredge & Dock by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 221,308 shares of the construction company’s stock valued at $952,000 after acquiring an additional 1,406 shares during the period. OxFORD Asset Management LLP increased its stake in Great Lakes Dredge & Dock by 4.1% in the second quarter. OxFORD Asset Management LLP now owns 37,865 shares of the construction company’s stock valued at $163,000 after acquiring an additional 1,480 shares during the period. Northern Trust Corp increased its stake in Great Lakes Dredge & Dock by 0.3% in the second quarter. Northern Trust Corp now owns 735,756 shares of the construction company’s stock valued at $3,164,000 after acquiring an additional 2,469 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in Great Lakes Dredge & Dock by 5.0% in the second quarter. The Manufacturers Life Insurance Company now owns 52,910 shares of the construction company’s stock valued at $227,000 after acquiring an additional 2,504 shares during the period. Institutional investors own 74.99% of the company’s stock.

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About Great Lakes Dredge & Dock

Great Lakes Dredge & Dock Corporation is a provider of dredging services. The Company provides dredging services in the East, West and Gulf Coasts of the United States and around the world. It operates in two segments: Dredging Operations, which involves enhancement or preservation of navigability of waterways or the protection of shorelines through the removal or replenishment of soil, sand or rock, and Environmental & Remediation Operations, which provides construction services on soil, water and sediment for clients in both the public and private sectors.

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