Great Lakes Dredge & Dock (NASDAQ:GLDD) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.92 and traded as high as $13.60. Great Lakes Dredge & Dock shares last traded at $13.5440, with a volume of 142,233 shares changing hands.

Analyst Upgrades and Downgrades

GLDD has been the topic of several recent research reports. Zacks Research upgraded Great Lakes Dredge & Dock from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 10th. CJS Securities upgraded shares of Great Lakes Dredge & Dock to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Great Lakes Dredge & Dock in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy”.

Great Lakes Dredge & Dock Stock Performance

The stock has a 50 day moving average of $12.51 and a 200 day moving average of $11.93. The company has a quick ratio of 1.06, a current ratio of 1.20 and a debt-to-equity ratio of 0.83. The firm has a market cap of $907.12 million, a price-to-earnings ratio of 11.31, a P/E/G ratio of 1.03 and a beta of 1.43.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last released its earnings results on Tuesday, November 4th. The construction company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.17 by $0.09. The firm had revenue of $195.21 million for the quarter, compared to analyst estimates of $201.30 million. Great Lakes Dredge & Dock had a net margin of 9.65% and a return on equity of 16.84%. As a group, analysts anticipate that Great Lakes Dredge & Dock Corporation will post 0.69 EPS for the current fiscal year.

Insider Transactions at Great Lakes Dredge & Dock

In other Great Lakes Dredge & Dock news, SVP David Johanson sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $13.02, for a total transaction of $130,200.00. Following the completion of the transaction, the senior vice president directly owned 94,063 shares in the company, valued at $1,224,700.26. The trade was a 9.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Great Lakes Dredge & Dock

A number of institutional investors have recently modified their holdings of the business. Hsbc Holdings PLC boosted its stake in Great Lakes Dredge & Dock by 3.2% in the first quarter. Hsbc Holdings PLC now owns 41,256 shares of the construction company’s stock valued at $360,000 after buying an additional 1,272 shares in the last quarter. AlphaQuest LLC raised its stake in Great Lakes Dredge & Dock by 330.4% during the first quarter. AlphaQuest LLC now owns 12,598 shares of the construction company’s stock worth $110,000 after acquiring an additional 9,671 shares in the last quarter. Quarry LP lifted its holdings in shares of Great Lakes Dredge & Dock by 213.7% in the first quarter. Quarry LP now owns 5,503 shares of the construction company’s stock worth $48,000 after acquiring an additional 3,749 shares during the last quarter. Graham Capital Management L.P. boosted its stake in shares of Great Lakes Dredge & Dock by 84.9% in the 1st quarter. Graham Capital Management L.P. now owns 87,148 shares of the construction company’s stock valued at $758,000 after purchasing an additional 40,005 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of Great Lakes Dredge & Dock by 9.9% in the 1st quarter. Royal Bank of Canada now owns 35,035 shares of the construction company’s stock valued at $305,000 after purchasing an additional 3,169 shares in the last quarter. Institutional investors and hedge funds own 89.11% of the company’s stock.

About Great Lakes Dredge & Dock

Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) is a leading provider of dredging and maritime construction services in the United States. The company specializes in the excavation and removal of sediment from waterways, harbors, ports and coastal areas to maintain navigability and support commercial shipping. Its operations encompass both maintenance dredging—removing accumulated material to restore channel depth—and new work projects such as land reclamation and harbor deepening.

In addition to traditional dredging, Great Lakes Dredge & Dock offers a range of complementary marine construction services.