Great Lakes Dredge & Dock (NASDAQ:GLDD) Upgraded by StockNews.com to “Buy”

StockNews.com upgraded shares of Great Lakes Dredge & Dock (NASDAQ:GLDD) from a hold rating to a buy rating in a research report released on Thursday morning.

Great Lakes Dredge & Dock Stock Up 0.7 %

GLDD stock opened at $8.68 on Thursday. The company has a market capitalization of $581.65 million, a P/E ratio of 15.23, a price-to-earnings-growth ratio of 0.34 and a beta of 1.14. Great Lakes Dredge & Dock has a 12 month low of $6.11 and a 12 month high of $9.78. The firm’s fifty day simple moving average is $8.93 and its 200-day simple moving average is $8.37. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.25 and a quick ratio of 1.06.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last posted its earnings results on Tuesday, May 7th. The construction company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.06 by $0.25. The firm had revenue of $198.66 million for the quarter, compared to analyst estimates of $176.45 million. Great Lakes Dredge & Dock had a return on equity of 8.83% and a net margin of 6.05%. As a group, equities research analysts forecast that Great Lakes Dredge & Dock will post 0.72 earnings per share for the current year.

Institutional Investors Weigh In On Great Lakes Dredge & Dock

Large investors have recently bought and sold shares of the company. Acuitas Investments LLC acquired a new stake in Great Lakes Dredge & Dock in the 4th quarter valued at about $2,416,000. Private Management Group Inc. lifted its position in Great Lakes Dredge & Dock by 18.0% during the fourth quarter. Private Management Group Inc. now owns 1,223,133 shares of the construction company’s stock worth $9,394,000 after buying an additional 186,653 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Great Lakes Dredge & Dock during the first quarter worth $1,701,000. Wellington Management Group LLP grew its holdings in Great Lakes Dredge & Dock by 45.2% in the 3rd quarter. Wellington Management Group LLP now owns 439,986 shares of the construction company’s stock valued at $3,507,000 after buying an additional 136,901 shares in the last quarter. Finally, Jennison Associates LLC increased its stake in shares of Great Lakes Dredge & Dock by 9.3% in the 4th quarter. Jennison Associates LLC now owns 4,299,418 shares of the construction company’s stock worth $33,020,000 after acquiring an additional 366,923 shares during the last quarter. 89.11% of the stock is currently owned by hedge funds and other institutional investors.

Great Lakes Dredge & Dock Company Profile

Great Lakes Dredge & Dock Corporation provides dredging services in the United States. The company engages in capital dredging that consists of port expansion projects; coastal restoration and land reclamations; trench digging for pipelines, tunnels, and cables; and other dredging related to the construction of breakwaters, jetties, canals, and other marine structures.