Great Lakes Dredge & Dock’s (GLDD) Neutral Rating Reaffirmed at JPMorgan Chase & Co.

Great Lakes Dredge & Dock (NASDAQ:GLDD)‘s stock had its “neutral” rating reiterated by research analysts at JPMorgan Chase & Co. in a research report issued on Wednesday,Benzinga reports. They presently have a $17.00 price target on the construction company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 0.18% from the company’s current price.

Several other research analysts also recently weighed in on GLDD. Zacks Research downgraded shares of Great Lakes Dredge & Dock from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 3rd. Noble Financial lowered Great Lakes Dredge & Dock from an “outperform” rating to a “market perform” rating in a report on Thursday, February 12th. Wall Street Zen downgraded Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research note on Saturday, January 24th. Weiss Ratings upgraded Great Lakes Dredge & Dock from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, January 21st. Finally, Texas Capital cut shares of Great Lakes Dredge & Dock from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Great Lakes Dredge & Dock has a consensus rating of “Hold” and an average price target of $17.00.

Great Lakes Dredge & Dock Stock Down 0.1%

GLDD stock traded down $0.01 on Wednesday, reaching $16.97. 1,127,033 shares of the company traded hands, compared to its average volume of 1,561,241. The firm has a fifty day simple moving average of $15.15 and a 200-day simple moving average of $13.18. The company has a market cap of $1.13 billion, a P/E ratio of 15.86, a price-to-earnings-growth ratio of 1.25 and a beta of 1.38. Great Lakes Dredge & Dock has a one year low of $7.51 and a one year high of $16.99. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.01 and a quick ratio of 0.88.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last announced its quarterly earnings results on Monday, February 23rd. The construction company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.10. The company had revenue of $256.45 million during the quarter, compared to the consensus estimate of $216.30 million. Great Lakes Dredge & Dock had a net margin of 8.27% and a return on equity of 16.46%. Research analysts anticipate that Great Lakes Dredge & Dock will post 0.69 earnings per share for the current year.

Insider Buying and Selling at Great Lakes Dredge & Dock

In other news, SVP David Johanson sold 2,100 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $13.96, for a total transaction of $29,316.00. Following the completion of the transaction, the senior vice president owned 91,963 shares in the company, valued at $1,283,803.48. This trade represents a 2.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.20% of the stock is currently owned by insiders.

Institutional Trading of Great Lakes Dredge & Dock

A number of large investors have recently added to or reduced their stakes in GLDD. Royal Bank of Canada boosted its holdings in shares of Great Lakes Dredge & Dock by 9.9% in the first quarter. Royal Bank of Canada now owns 35,035 shares of the construction company’s stock valued at $305,000 after purchasing an additional 3,169 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Great Lakes Dredge & Dock in the 1st quarter worth $304,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Great Lakes Dredge & Dock by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,190 shares of the construction company’s stock worth $341,000 after buying an additional 1,653 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of Great Lakes Dredge & Dock during the first quarter valued at $1,726,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Great Lakes Dredge & Dock by 1.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 246,766 shares of the construction company’s stock valued at $2,147,000 after acquiring an additional 3,042 shares in the last quarter. Institutional investors own 89.11% of the company’s stock.

Great Lakes Dredge & Dock Company Profile

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.