GABELLI & Co INVESTMENT ADVISERS INC. Takes Position in Great Lakes Dredge & Dock Corporation $GLDD

GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 253,695 shares of the construction company’s stock, valued at approximately $4,313,000.

A number of other hedge funds have also bought and sold shares of GLDD. Royal Bank of Canada boosted its position in Great Lakes Dredge & Dock by 9.9% in the first quarter. Royal Bank of Canada now owns 35,035 shares of the construction company’s stock worth $305,000 after purchasing an additional 3,169 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Great Lakes Dredge & Dock in the 1st quarter valued at $304,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Great Lakes Dredge & Dock by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,190 shares of the construction company’s stock valued at $341,000 after purchasing an additional 1,653 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of Great Lakes Dredge & Dock during the 1st quarter valued at $1,726,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Great Lakes Dredge & Dock by 1.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 246,766 shares of the construction company’s stock worth $2,147,000 after purchasing an additional 3,042 shares during the period. 89.11% of the stock is currently owned by institutional investors.

Great Lakes Dredge & Dock Price Performance

Shares of NASDAQ GLDD opened at $17.00 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.88 and a current ratio of 1.01. Great Lakes Dredge & Dock Corporation has a fifty-two week low of $8.80 and a fifty-two week high of $17.02. The stock has a market cap of $1.14 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 1.26 and a beta of 1.38. The stock has a fifty day moving average of $15.47 and a 200-day moving average of $16.02.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Great Lakes Dredge & Dock to a “strong-buy” rating in a research report on Saturday, April 4th. One equities 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, the stock currently has an average rating of “Hold” and a consensus price target 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.