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

StockNews.com downgraded shares of Great Lakes Dredge & Dock (NASDAQ:GLDDFree Report) from a buy rating to a hold rating in a research note published on Thursday morning.

Great Lakes Dredge & Dock Stock Performance

NASDAQ:GLDD opened at $8.82 on Thursday. The company has a market cap of $591.03 million, a price-to-earnings ratio of 15.47, a PEG ratio of 0.35 and a beta of 1.14. 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’s 50 day simple moving average is $8.53 and its two-hundred day simple moving average is $8.24. Great Lakes Dredge & Dock has a 1 year low of $6.11 and a 1 year high of $9.78.

Great Lakes Dredge & Dock (NASDAQ:GLDDGet Free Report) last announced its earnings results on Tuesday, May 7th. The construction company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.25. The firm had revenue of $198.66 million during the quarter, compared to analysts’ expectations of $176.45 million. Great Lakes Dredge & Dock had a return on equity of 8.83% and a net margin of 6.05%. As a group, equities analysts anticipate that Great Lakes Dredge & Dock will post 0.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Great Lakes Dredge & Dock

Institutional investors and hedge funds have recently modified their holdings of the stock. Jennison Associates LLC boosted 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 acquiring an additional 60,307 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Great Lakes Dredge & Dock by 4.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,356,468 shares of the construction company’s stock valued at $33,458,000 after acquiring an additional 192,053 shares during the period. Vanguard Group Inc. boosted its holdings in Great Lakes Dredge & Dock by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 3,413,673 shares of the construction company’s stock valued at $29,870,000 after acquiring an additional 48,760 shares during the period. Private Management Group Inc. boosted its holdings 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 valued at $9,394,000 after acquiring an additional 186,653 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted 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 valued at $8,377,000 after acquiring an additional 40,679 shares during the period. Hedge funds and other institutional investors own 89.11% of the company’s stock.

About Great Lakes Dredge & Dock

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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.

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