CenterBook Partners LP Trims Stake in Great Lakes Dredge & Dock Corporation $GLDD

CenterBook Partners LP lowered its position in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) by 20.7% during the 4th quarter, HoldingsChannel reports. The fund owned 410,971 shares of the construction company’s stock after selling 107,360 shares during the period. CenterBook Partners LP’s holdings in Great Lakes Dredge & Dock were worth $5,392,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. State of Wyoming raised its stake in shares of Great Lakes Dredge & Dock by 21.5% in the fourth quarter. State of Wyoming now owns 43,915 shares of the construction company’s stock valued at $576,000 after acquiring an additional 7,767 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Great Lakes Dredge & Dock by 120.9% in the fourth 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 period. BNP Paribas Financial Markets raised its stake in shares of Great Lakes Dredge & Dock by 37.1% in the fourth quarter. BNP Paribas Financial Markets now owns 589,172 shares of the construction company’s stock valued at $7,730,000 after acquiring an additional 159,339 shares during the period. Legato Capital Management LLC raised its stake in shares of Great Lakes Dredge & Dock by 9.6% in the fourth quarter. Legato Capital Management LLC now owns 96,684 shares of the construction company’s stock valued at $1,268,000 after acquiring an additional 8,461 shares during the period. Finally, ProShare Advisors LLC raised its stake in shares of Great Lakes Dredge & Dock by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 12,168 shares of the construction company’s stock valued at $160,000 after acquiring an additional 786 shares during the period. Hedge funds and other institutional investors own 89.11% of the company’s stock.

Great Lakes Dredge & Dock Price Performance

Shares of Great Lakes Dredge & Dock stock opened at $17.00 on Monday. 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 Corporation has a 1 year low of $8.80 and a 1 year high of $17.02. The firm’s 50-day moving average is $17.00 and its two-hundred day moving average is $15.60. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 15.89, a PEG ratio of 1.26 and a beta of 1.38.

Analysts Set New Price Targets

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