Great Lakes Dredge & Dock Corporation $GLDD Stock Holdings Trimmed by Hsbc Holdings PLC

Hsbc Holdings PLC lessened its position in shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) by 61.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,480 shares of the construction company’s stock after selling 33,214 shares during the period. Hsbc Holdings PLC’s holdings in Great Lakes Dredge & Dock were worth $348,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Nwam LLC bought a new stake in Great Lakes Dredge & Dock during the fourth quarter valued at $2,853,000. Simcoe Capital LLC bought a new position in shares of Great Lakes Dredge & Dock in the 4th quarter worth about $4,955,000. Vanguard Group Inc. lifted its position in shares of Great Lakes Dredge & Dock by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 3,987,334 shares of the construction company’s stock worth $52,314,000 after buying an additional 108,033 shares during the last quarter. Sanctuary Advisors LLC boosted its holdings in shares of Great Lakes Dredge & Dock by 40.2% in the 4th quarter. Sanctuary Advisors LLC now owns 328,554 shares of the construction company’s stock valued at $4,311,000 after buying an additional 94,162 shares during the period. Finally, Credit Industriel ET Commercial acquired a new position in shares of Great Lakes Dredge & Dock in the 1st quarter valued at about $1,177,000. Institutional investors and hedge funds own 89.11% of the company’s stock.

Great Lakes Dredge & Dock Stock Performance

Shares of GLDD opened at $17.00 on Friday. The firm has a 50-day moving average price of $15.47 and a 200 day moving average price of $16.15. 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. 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.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Great Lakes Dredge & Dock to a “strong-buy” rating in a research note on Saturday, April 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 company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $17.00.

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.