Vanguard Group Inc. Acquires 108,033 Shares of Great Lakes Dredge & Dock Corporation $GLDD

Vanguard Group Inc. grew its holdings in shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) by 2.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,987,334 shares of the construction company’s stock after buying an additional 108,033 shares during the period. Vanguard Group Inc. owned approximately 5.86% of Great Lakes Dredge & Dock worth $52,314,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Financial Management Professionals Inc. bought a new position in shares of Great Lakes Dredge & Dock in the 4th quarter worth $25,000. MAI Capital Management lifted its holdings in shares of Great Lakes Dredge & Dock by 79.2% in the 3rd quarter. MAI Capital Management now owns 2,161 shares of the construction company’s stock worth $26,000 after purchasing an additional 955 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Great Lakes Dredge & Dock by 231.4% in the 4th quarter. Farther Finance Advisors LLC now owns 2,111 shares of the construction company’s stock worth $28,000 after purchasing an additional 1,474 shares in the last quarter. Strs Ohio bought a new position in shares of Great Lakes Dredge & Dock in the 1st quarter worth $45,000. Finally, State of Alaska Department of Revenue bought a new position in shares of Great Lakes Dredge & Dock in the 3rd quarter worth $46,000. 89.11% of the stock is currently owned by institutional investors.

Great Lakes Dredge & Dock Price Performance

Shares of NASDAQ:GLDD opened at $17.00 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.88 and a debt-to-equity ratio of 0.73. The stock’s fifty day simple moving average is $16.98 and its two-hundred day simple moving average is $15.06. Great Lakes Dredge & Dock Corporation has a 1-year low of $8.80 and a 1-year high of $17.02. The stock has a market cap 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.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last issued its quarterly earnings data 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. Great Lakes Dredge & Dock had a return on equity of 16.46% and a net margin of 8.27%.The business had revenue of $256.45 million for the quarter, compared to analysts’ expectations of $216.30 million. As a group, analysts forecast that Great Lakes Dredge & Dock Corporation will post 0.69 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Wall Street Zen upgraded Great Lakes Dredge & Dock to a “strong-buy” rating in a report on Saturday, April 4th. JPMorgan Chase & Co. cut Great Lakes Dredge & Dock from a “neutral” rating to an “underweight” rating and set a $17.00 target price on the stock. in a report on Thursday, March 26th. Zacks Research upgraded Great Lakes Dredge & Dock from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Noble Financial cut Great Lakes Dredge & Dock from an “outperform” rating to a “market perform” rating in a report on Thursday, February 12th. Finally, CJS Securities reissued a “market perform” rating on shares of Great Lakes Dredge & Dock in a report on Wednesday, March 11th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $17.00.

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.