Great Lakes Dredge & Dock’s (GLDD) “Hold (C+)” Rating Reiterated at Weiss Ratings

Great Lakes Dredge & Dock (NASDAQ:GLDD)‘s stock had its “hold (c+)” rating reissued by equities researchers at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Separately, Zacks Research upgraded shares of Great Lakes Dredge & Dock to a “strong-buy” rating in a research note on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Great Lakes Dredge & Dock presently has a consensus rating of “Buy”.

Great Lakes Dredge & Dock Trading Up 1.8%

Shares of Great Lakes Dredge & Dock stock opened at $11.88 on Wednesday. The company has a fifty day simple moving average of $11.72 and a 200-day simple moving average of $10.92. Great Lakes Dredge & Dock has a 12-month low of $7.51 and a 12-month high of $12.89. 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 $807.78 million, a price-to-earnings ratio of 11.31, a PEG ratio of 0.96 and a beta of 1.37.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last issued its earnings results on Tuesday, August 5th. The construction company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.06. The business had revenue of $193.76 million during the quarter, compared to analysts’ expectations of $177.70 million. Great Lakes Dredge & Dock had a net margin of 8.63% and a return on equity of 15.61%. On average, equities analysts forecast that Great Lakes Dredge & Dock will post 0.69 EPS for the current fiscal year.

Hedge Funds Weigh In On Great Lakes Dredge & Dock

A number of large investors have recently bought and sold shares of GLDD. GAMMA Investing LLC raised its position in Great Lakes Dredge & Dock by 800.5% during the 1st quarter. GAMMA Investing LLC now owns 16,965 shares of the construction company’s stock worth $148,000 after buying an additional 15,081 shares during the last quarter. Byrne Asset Management LLC purchased a new position in Great Lakes Dredge & Dock during the 1st quarter worth $40,000. Acuitas Investments LLC raised its position in Great Lakes Dredge & Dock by 17.4% during the 1st quarter. Acuitas Investments LLC now owns 423,234 shares of the construction company’s stock worth $3,682,000 after buying an additional 62,653 shares during the last quarter. Castlekeep Investment Advisors LLC raised its position in Great Lakes Dredge & Dock by 1.5% during the 1st quarter. Castlekeep Investment Advisors LLC now owns 496,412 shares of the construction company’s stock worth $4,319,000 after buying an additional 7,383 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in Great Lakes Dredge & Dock by 19.6% during the 1st quarter. Victory Capital Management Inc. now owns 116,000 shares of the construction company’s stock worth $1,009,000 after buying an additional 19,000 shares during the last quarter. Hedge funds and other institutional investors own 89.11% of the company’s stock.

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.