Great Lakes Dredge & Dock (NASDAQ:GLDD) Trading Down 9.3% – What’s Next?

Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)’s stock price traded down 9.3% during mid-day trading on Tuesday . The stock traded as low as $10.07 and last traded at $9.98. 170,556 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 359,861 shares. The stock had previously closed at $11.00.

Great Lakes Dredge & Dock Trading Up 1.9 %

The company has a debt-to-equity ratio of 0.97, a current ratio of 1.21 and a quick ratio of 1.01. The business’s 50 day simple moving average is $11.33 and its 200 day simple moving average is $11.08. The stock has a market cap of $584.58 million, a P/E ratio of 10.35, a PEG ratio of 0.29 and a beta of 1.16.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last posted its earnings results on Tuesday, February 18th. The construction company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.23 by $0.06. Great Lakes Dredge & Dock had a return on equity of 13.72% and a net margin of 7.51%. The business had revenue of $202.77 million during the quarter, compared to the consensus estimate of $211.20 million. On average, analysts expect that Great Lakes Dredge & Dock Co. will post 0.88 earnings per share for the current fiscal year.

Institutional Trading of Great Lakes Dredge & Dock

Several large investors have recently added to or reduced their stakes in GLDD. Mackenzie Financial Corp acquired a new position in shares of Great Lakes Dredge & Dock during the fourth quarter valued at $223,000. Castlekeep Investment Advisors LLC acquired a new stake in shares of Great Lakes Dredge & Dock during the 4th quarter worth approximately $5,521,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Great Lakes Dredge & Dock by 14.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 243,724 shares of the construction company’s stock worth $2,752,000 after buying an additional 30,394 shares during the last quarter. Squarepoint Ops LLC lifted its holdings in Great Lakes Dredge & Dock by 70.6% in the fourth quarter. Squarepoint Ops LLC now owns 61,538 shares of the construction company’s stock valued at $695,000 after buying an additional 25,472 shares during the period. Finally, Seven Six Capital Management LLC bought a new position in shares of Great Lakes Dredge & Dock in the 4th quarter worth $3,744,000. 89.11% of the stock is owned by institutional investors.

About Great Lakes Dredge & Dock

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.