Great Lakes Dredge & Dock Corp. (GLDD) Sees Large Volume Increase
Shares of Great Lakes Dredge & Dock Corp. (NASDAQ:GLDD) saw unusually-strong trading volume on Monday . Approximately 164,766 shares traded 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 raised shares of Great Lakes Dredge & Dock Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, April 26th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. Great Lakes Dredge & Dock Corp. currently has an average rating of “Hold” and a consensus target price of $5.67.
The company’s market cap is $280.53 million. The company has a 50-day moving average price of $4.64 and a 200 day moving average price of $4.10.
Great Lakes Dredge & Dock Corp. (NASDAQ:GLDD) last announced its quarterly earnings results on Tuesday, May 3rd. The company reported ($0.07) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.07). The company had revenue of $163.12 million for the quarter, compared to analysts’ expectations of $178.57 million. The business’s revenue was down 6.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.14) EPS. On average, equities research analysts expect that Great Lakes Dredge & Dock Corp. will post $0.06 earnings per share for the current fiscal year.
An institutional investor recently raised its position in Great Lakes Dredge & Dock Corp. stock. Boston Partners increased its position in shares of Great Lakes Dredge & Dock Corp. (NASDAQ:GLDD) by 14.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,362,970 shares of the company’s stock after buying an additional 823,860 shares during the period. Boston Partners owned 10.52% of Great Lakes Dredge & Dock Corp. worth $25,197,000 as of its most recent filing with the SEC.
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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