OMERS ADMINISTRATION Corp Takes Position in Great Lakes Dredge & Dock Corporation $GLDD

OMERS ADMINISTRATION Corp purchased a new position in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) during the first quarter, HoldingsChannel reports. The firm purchased 864,000 shares of the construction company’s stock, valued at approximately $14,688,000.

Several other large investors also recently modified their holdings of GLDD. Millennium Management LLC increased its position in Great Lakes Dredge & Dock by 228.7% during the third quarter. Millennium Management LLC now owns 1,146,135 shares of the construction company’s stock valued at $13,742,000 after acquiring an additional 797,411 shares during the last quarter. Gabelli Funds LLC bought a new stake in shares of Great Lakes Dredge & Dock during the 1st quarter valued at about $8,594,000. Cubist Systematic Strategies LLC grew its stake in shares of Great Lakes Dredge & Dock by 404.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 492,191 shares of the construction company’s stock valued at $6,000,000 after purchasing an additional 394,543 shares during the period. Simcoe Capital LLC purchased a new stake in shares of Great Lakes Dredge & Dock during the 4th quarter valued at about $4,955,000. Finally, Goldman Sachs Group Inc. increased its position in shares of Great Lakes Dredge & Dock by 120.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 634,720 shares of the construction company’s stock valued at $8,328,000 after purchasing an additional 347,334 shares during the last quarter. Institutional investors own 89.11% of the company’s stock.

Great Lakes Dredge & Dock Stock Performance

Shares of GLDD stock opened at $17.00 on Friday. Great Lakes Dredge & Dock Corporation has a 1 year low of $8.80 and a 1 year high of $17.02. The firm has a fifty day moving average price of $15.47 and a 200-day moving average price of $16.02. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.01 and a quick ratio of 0.88. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 15.89, a PEG ratio of 1.26 and a beta of 1.38.

Analyst Ratings Changes

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 equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price 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.