Great Lakes Dredge & Dock Corp. (GLDD) Sees Unusually-High Trading Volume
Great Lakes Dredge & Dock Corp. (NASDAQ:GLDD) saw strong trading volume on Monday . 164,766 shares changed hands during trading, an increase of 17% from the previous session’s volume of 141,127 shares.The stock last traded at $4.80 and had previously closed at $4.81.
Separately, Zacks Investment Research upgraded shares of Great Lakes Dredge & Dock Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, April 26th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $5.67.
The company’s market cap is $288.72 million. The company has a 50 day moving average of $4.64 and a 200 day moving average of $4.10.
Great Lakes Dredge & Dock Corp. (NASDAQ:GLDD) last issued its quarterly earnings data on Tuesday, May 3rd. The company reported ($0.07) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.07). The company earned $163.12 million during the quarter, compared to the consensus estimate of $178.57 million. During the same quarter last year, the company posted ($0.14) earnings per share. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. On average, equities research analysts forecast that Great Lakes Dredge & Dock Corp. will post $0.06 EPS for the current year.
Other hedge funds and institutional investors have modified their holdings of the company. Merion Investment Management LP raised its position in shares of Great Lakes Dredge & Dock Corp. by 30.1% in the fourth quarter. Merion Investment Management LP now owns 755,937 shares of the company’s stock valued at $2,994,000 after buying an additional 175,000 shares during the last quarter. Russell Frank Co increased its stake in shares of Great Lakes Dredge & Dock Corp. by 19.6% in the fourth quarter. Russell Frank Co now owns 1,427,442 shares of the company’s stock valued at $5,724,000 after buying an additional 234,078 shares during the period. Finally, Boston Partners increased its stake in shares of Great Lakes Dredge & Dock Corp. by 14.9% in the fourth quarter. Boston Partners now owns 6,362,970 shares of the company’s stock valued at $25,197,000 after buying an additional 823,860 shares during the period.
Great Lakes Dredge & Dock Corporation is a provider of dredging services. The Company provides dredging services in the East, West and Gulf Coasts of the United States and around the world. It operates in two segments: Dredging Operations, which involves enhancement or preservation of navigability of waterways or the protection of shorelines through the removal or replenishment of soil, sand or rock, and Environmental & Remediation Operations, which provides construction services on soil, water and sediment for clients in both the public and private sectors in the United States.
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