CenterBook Partners LP Lowers Position in Great Lakes Dredge & Dock Corporation $GLDD

CenterBook Partners LP lessened its stake in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) by 20.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 410,971 shares of the construction company’s stock after selling 107,360 shares during the quarter. CenterBook Partners LP owned approximately 0.60% of Great Lakes Dredge & Dock worth $5,392,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Financial Management Professionals Inc. purchased a new position in shares of Great Lakes Dredge & Dock in the fourth quarter worth $25,000. MAI Capital Management lifted its holdings in shares of Great Lakes Dredge & Dock by 79.2% in the third quarter. MAI Capital Management now owns 2,161 shares of the construction company’s stock worth $26,000 after buying an additional 955 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Great Lakes Dredge & Dock by 231.4% in the fourth quarter. Farther Finance Advisors LLC now owns 2,111 shares of the construction company’s stock worth $28,000 after buying an additional 1,474 shares in the last quarter. Strs Ohio purchased a new position in shares of Great Lakes Dredge & Dock in the first quarter worth $45,000. Finally, Federated Hermes Inc. lifted its holdings in shares of Great Lakes Dredge & Dock by 43.5% in the second quarter. Federated Hermes Inc. now owns 4,965 shares of the construction company’s stock worth $61,000 after buying an additional 1,505 shares in the last quarter. Hedge funds and other institutional investors own 89.11% of the company’s stock.

Analysts Set New Price Targets

GLDD has been the topic of a number of recent research reports. Noble Financial downgraded shares of Great Lakes Dredge & Dock from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 12th. Texas Capital downgraded shares of Great Lakes Dredge & Dock from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 11th. JPMorgan Chase & Co. downgraded shares of Great Lakes Dredge & Dock from a “neutral” rating to an “underweight” rating and set a $17.00 price target on the stock. in a research note on Thursday, March 26th. Wall Street Zen raised shares of Great Lakes Dredge & Dock to a “strong-buy” rating in a research note on Saturday, April 4th. Finally, Zacks Research raised shares of Great Lakes Dredge & Dock from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $17.00.

Great Lakes Dredge & Dock Price Performance

Great Lakes Dredge & Dock stock opened at $17.00 on Monday. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 15.89, a PEG ratio of 1.26 and a beta of 1.38. The firm’s fifty day moving average is $17.00 and its 200 day moving average is $15.60. The company has a quick ratio of 0.88, a current ratio of 1.01 and a debt-to-equity ratio of 0.73. Great Lakes Dredge & Dock Corporation has a 52-week low of $8.80 and a 52-week high of $17.02.

Great Lakes Dredge & Dock Company Profile

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.