Lazard Asset Management LLC Grows Stock Holdings in Great Lakes Dredge & Dock Corporation $GLDD

Lazard Asset Management LLC grew its stake in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) by 19.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 269,389 shares of the construction company’s stock after acquiring an additional 43,114 shares during the period. Lazard Asset Management LLC owned 0.40% of Great Lakes Dredge & Dock worth $4,580,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in shares of Great Lakes Dredge & Dock by 0.8% during the third quarter. Dimensional Fund Advisors LP now owns 4,323,251 shares of the construction company’s stock valued at $51,835,000 after acquiring an additional 35,044 shares in the last quarter. Vanguard Group Inc. grew its stake in Great Lakes Dredge & Dock by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 3,987,334 shares of the construction company’s stock worth $52,314,000 after purchasing an additional 108,033 shares in the last quarter. Millennium Management LLC grew its stake in Great Lakes Dredge & Dock by 39.4% in the fourth quarter. Millennium Management LLC now owns 1,597,481 shares of the construction company’s stock worth $20,959,000 after purchasing an additional 451,346 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Great Lakes Dredge & Dock by 32.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,054,360 shares of the construction company’s stock worth $17,924,000 after purchasing an additional 258,151 shares during the period. Finally, OMERS ADMINISTRATION Corp purchased a new position in Great Lakes Dredge & Dock during the 1st quarter worth $14,688,000. 89.11% of the stock is owned by hedge funds and other institutional investors.

Great Lakes Dredge & Dock Price Performance

Great Lakes Dredge & Dock stock opened at $17.00 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.01 and a debt-to-equity ratio of 0.73. The firm has a market cap of $1.14 billion, a P/E ratio of 15.89, a P/E/G ratio of 1.26 and a beta of 1.38. The business has a fifty day moving average of $15.47 and a two-hundred day moving average of $16.15. Great Lakes Dredge & Dock Corporation has a twelve month low of $8.80 and a twelve month high of $17.02.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Great Lakes Dredge & Dock to a “strong-buy” rating in a research report on Saturday, April 4th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $17.00.

Great Lakes Dredge & Dock 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.