Great Lakes Dredge & Dock Corporation $GLDD Stock Holdings Cut by Hsbc Holdings PLC

Hsbc Holdings PLC lessened its position in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) by 61.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,480 shares of the construction company’s stock after selling 33,214 shares during the period. Hsbc Holdings PLC’s holdings in Great Lakes Dredge & Dock were worth $348,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Millennium Management LLC boosted its stake in Great Lakes Dredge & Dock by 228.7% during the third quarter. Millennium Management LLC now owns 1,146,135 shares of the construction company’s stock valued at $13,742,000 after buying an additional 797,411 shares in the last quarter. Cubist Systematic Strategies LLC raised its position in Great Lakes Dredge & Dock by 404.0% in the second quarter. Cubist Systematic Strategies LLC now owns 492,191 shares of the construction company’s stock worth $6,000,000 after acquiring an additional 394,543 shares in the last quarter. Simcoe Capital LLC bought a new stake in Great Lakes Dredge & Dock in the fourth quarter worth about $4,955,000. Goldman Sachs Group Inc. lifted its holdings in Great Lakes Dredge & Dock by 120.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 634,720 shares of the construction company’s stock valued at $8,328,000 after acquiring an additional 347,334 shares during the last quarter. Finally, Qube Research & Technologies Ltd lifted its holdings in Great Lakes Dredge & Dock by 641.3% in the 3rd quarter. Qube Research & Technologies Ltd now owns 381,365 shares of the construction company’s stock valued at $4,573,000 after acquiring an additional 329,922 shares during the last quarter. Institutional investors and hedge funds own 89.11% of the company’s stock.

Wall Street Analyst Weigh In

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

Great Lakes Dredge & Dock Price Performance

Shares of NASDAQ:GLDD opened at $17.00 on Friday. Great Lakes Dredge & Dock Corporation has a one year low of $8.80 and a one year high of $17.02. The stock has a fifty day moving average of $15.47 and a 200-day moving average of $16.15. The company has a market capitalization of $1.14 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 1.26 and a beta of 1.38. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.88 and a current ratio of 1.01.

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.