Great Lakes Dredge & Dock (NASDAQ:GLDD) Stock Rating Upgraded by Zacks Research

Great Lakes Dredge & Dock (NASDAQ:GLDD) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

Separately, Weiss Ratings restated a “hold (c+)” rating on shares of Great Lakes Dredge & Dock in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Buy”.

Great Lakes Dredge & Dock Price Performance

Great Lakes Dredge & Dock stock opened at $12.70 on Monday. Great Lakes Dredge & Dock has a one year low of $7.51 and a one year high of $12.93. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.02 and a current ratio of 1.15. The business has a fifty day moving average of $11.75 and a two-hundred day moving average of $11.44. The company has a market cap of $863.59 million, a P/E ratio of 12.10, a price-to-earnings-growth ratio of 0.94 and a beta of 1.40.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last posted its quarterly earnings results on Tuesday, November 4th. The construction company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.09. The business had revenue of $195.21 million for the quarter, compared to analysts’ expectations of $201.30 million. Great Lakes Dredge & Dock had a net margin of 8.63% and a return on equity of 15.61%. As a group, analysts predict that Great Lakes Dredge & Dock will post 0.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Great Lakes Dredge & Dock

Several institutional investors and hedge funds have recently made changes to their positions in GLDD. Jennison Associates LLC grew its stake in Great Lakes Dredge & Dock by 22.7% in the 1st quarter. Jennison Associates LLC now owns 5,310,894 shares of the construction company’s stock valued at $46,205,000 after acquiring an additional 981,652 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Great Lakes Dredge & Dock by 0.8% in the first quarter. Vanguard Group Inc. now owns 3,907,174 shares of the construction company’s stock valued at $33,992,000 after purchasing an additional 29,586 shares during the last quarter. American Century Companies Inc. grew its position in shares of Great Lakes Dredge & Dock by 10.7% in the second quarter. American Century Companies Inc. now owns 2,180,909 shares of the construction company’s stock valued at $26,585,000 after purchasing an additional 210,134 shares during the last quarter. TCW Group Inc. increased its stake in shares of Great Lakes Dredge & Dock by 4.0% during the 1st quarter. TCW Group Inc. now owns 2,153,534 shares of the construction company’s stock worth $18,736,000 after purchasing an additional 82,700 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Great Lakes Dredge & Dock by 3.2% during the 2nd quarter. Geode Capital Management LLC now owns 1,656,547 shares of the construction company’s stock worth $20,195,000 after purchasing an additional 51,269 shares during the last quarter. 89.11% of the stock is currently owned by hedge funds and other institutional investors.

Great Lakes Dredge & Dock Company Profile

Great Lakes Dredge & Dock Corp. engages in the provision of dredging services. Its projects include channel and port maintenance, channel deepening and port expansion, coastal protection and restoration, as well as land reclamation. The company was founded by William A. Lydon and Frederick C. Drews in 1890 and is headquartered in Houston, TX.