Sanctuary Advisors LLC Has $4.31 Million Stock Position in Great Lakes Dredge & Dock Corporation $GLDD

Sanctuary Advisors LLC increased its holdings in shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) by 40.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 328,554 shares of the construction company’s stock after purchasing an additional 94,162 shares during the period. Sanctuary Advisors LLC’s holdings in Great Lakes Dredge & Dock were worth $4,311,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in GLDD. Millennium Management LLC grew its stake in Great Lakes Dredge & Dock by 228.7% during the third quarter. Millennium Management LLC now owns 1,146,135 shares of the construction company’s stock worth $13,742,000 after purchasing an additional 797,411 shares during the period. Cubist Systematic Strategies LLC grew its stake in Great Lakes Dredge & Dock by 404.0% during the second quarter. Cubist Systematic Strategies LLC now owns 492,191 shares of the construction company’s stock worth $6,000,000 after purchasing an additional 394,543 shares during the period. Qube Research & Technologies Ltd grew its stake in Great Lakes Dredge & Dock by 641.3% during the third quarter. Qube Research & Technologies Ltd now owns 381,365 shares of the construction company’s stock worth $4,573,000 after purchasing an additional 329,922 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Great Lakes Dredge & Dock by 99.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 494,033 shares of the construction company’s stock worth $5,884,000 after purchasing an additional 246,007 shares during the period. Finally, American Century Companies Inc. grew its stake in Great Lakes Dredge & Dock by 10.6% during the third quarter. American Century Companies Inc. now owns 2,412,467 shares of the construction company’s stock worth $28,925,000 after purchasing an additional 231,558 shares during the period. Institutional investors and hedge funds own 89.11% of the company’s stock.

Great Lakes Dredge & Dock Price Performance

GLDD stock opened at $17.00 on Friday. Great Lakes Dredge & Dock Corporation has a twelve month low of $8.80 and a twelve month high of $17.02. The company has a quick ratio of 0.88, a current ratio of 1.01 and a debt-to-equity ratio of 0.73. The stock’s 50 day moving average is $16.97 and its 200-day moving average is $14.66. The firm has a market capitalization of $1.14 billion, a PE ratio of 15.89, a P/E/G ratio of 1.26 and a beta of 1.38.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last posted its earnings results on Monday, February 23rd. The construction company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.10. Great Lakes Dredge & Dock had a return on equity of 16.46% and a net margin of 8.27%.The company had revenue of $256.45 million for the quarter, compared to analyst estimates of $216.30 million. Sell-side analysts expect that Great Lakes Dredge & Dock Corporation will post 0.69 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GLDD has been the subject of several recent analyst reports. Zacks Research raised Great Lakes Dredge & Dock from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Weiss Ratings raised Great Lakes Dredge & Dock from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, January 21st. JPMorgan Chase & Co. cut Great Lakes Dredge & Dock from a “neutral” rating to an “underweight” rating and set a $17.00 target price for the company. in a research note on Thursday, March 26th. CJS Securities reaffirmed a “market perform” rating on shares of Great Lakes Dredge & Dock in a research note on Wednesday, March 11th. Finally, Texas Capital cut Great Lakes Dredge & Dock from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 11th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $17.00.

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.