Great Lakes Dredge & Dock (NASDAQ:GLDD) Sets New 12-Month High – Should You Buy?

Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $13.03 and last traded at $13.01, with a volume of 78548 shares trading hands. The stock had previously closed at $12.70.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on GLDD shares. Zacks Research raised shares of Great Lakes Dredge & Dock from a “hold” rating to a “strong-buy” rating in a research report on Monday. Weiss Ratings restated a “hold (c+)” rating on shares of Great Lakes Dredge & Dock in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy”.

Great Lakes Dredge & Dock Price Performance

The company has a current ratio of 1.15, a quick ratio of 1.02 and a debt-to-equity ratio of 0.87. The stock has a market cap of $839.79 million, a PE ratio of 11.76, a PEG ratio of 0.94 and a beta of 1.40. The firm’s 50-day moving average price is $11.80 and its two-hundred day moving average price is $11.48.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last posted its earnings results on Tuesday, November 4th. The construction company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.09. Great Lakes Dredge & Dock had a net margin of 8.63% and a return on equity of 15.61%. The company had revenue of $195.21 million during the quarter, compared to analysts’ expectations of $201.30 million. On average, equities analysts expect that Great Lakes Dredge & Dock Corporation will post 0.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GLDD. MAI Capital Management lifted its holdings in Great Lakes Dredge & Dock by 79.2% during the third quarter. MAI Capital Management now owns 2,161 shares of the construction company’s stock valued at $26,000 after purchasing an additional 955 shares in the last quarter. State of Wyoming raised its position in Great Lakes Dredge & Dock by 3.3% during the third quarter. State of Wyoming now owns 36,148 shares of the construction company’s stock valued at $433,000 after purchasing an additional 1,142 shares during the period. Hsbc Holdings PLC raised its stake in shares of 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 acquiring an additional 1,272 shares during the period. AE Wealth Management LLC grew its stake in shares of Great Lakes Dredge & Dock by 8.1% during the third quarter. AE Wealth Management LLC now owns 19,175 shares of the construction company’s stock valued at $230,000 after buying an additional 1,443 shares during the last quarter. Finally, Raymond James Financial Inc. lifted its position in shares of Great Lakes Dredge & Dock by 0.8% during the third quarter. Raymond James Financial Inc. now owns 188,570 shares of the construction company’s stock worth $2,261,000 after purchasing an additional 1,476 shares during the last quarter. 89.11% of the stock is owned by institutional investors and hedge funds.

Great Lakes Dredge & Dock Company Profile

Great Lakes Dredge & Dock Corp. engages in the provision of dredging services. Its projects include channel and port maintenance, channel deepening and port expansion, coastal protection and restoration, as well as land reclamation. The company was founded by William A. Lydon and Frederick C. Drews in 1890 and is headquartered in Houston, TX.