Shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) traded down 6.3% during trading on Tuesday . The company traded as low as $7.01 and last traded at $7.02. 832,416 shares changed hands during mid-day trading, an increase of 368% from the average session volume of 178,036 shares. The stock had previously closed at $7.49.

A number of analysts have recently commented on the company. Zacks Investment Research upgraded Great Lakes Dredge & Dock from a “hold” rating to a “strong-buy” rating and set a $7.75 target price on the stock in a research note on Wednesday, November 7th. BidaskClub upgraded Great Lakes Dredge & Dock from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. ValuEngine upgraded Great Lakes Dredge & Dock from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 2nd. Noble Financial set a $8.00 target price on Great Lakes Dredge & Dock and gave the stock a “buy” rating in a research note on Thursday, September 27th. Finally, TheStreet upgraded Great Lakes Dredge & Dock from a “d+” rating to a “c-” rating in a research note on Monday, September 10th. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $7.88.

The company has a quick ratio of 1.33, a current ratio of 1.56 and a debt-to-equity ratio of 1.57. The company has a market capitalization of $452.98 million, a P/E ratio of -26.00 and a beta of 0.62.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last issued its earnings results on Tuesday, November 6th. The construction company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.15. Great Lakes Dredge & Dock had a negative return on equity of 0.73% and a negative net margin of 1.07%. The firm had revenue of $204.32 million for the quarter, compared to the consensus estimate of $199.25 million. During the same quarter in the prior year, the business earned ($0.08) earnings per share. The company’s revenue was up 25.1% compared to the same quarter last year. As a group, analysts forecast that Great Lakes Dredge & Dock Co. will post 0.27 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co. NY raised its holdings in Great Lakes Dredge & Dock by 135.6% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 26,679 shares of the construction company’s stock worth $140,000 after purchasing an additional 15,353 shares during the period. JPMorgan Chase & Co. raised its holdings in Great Lakes Dredge & Dock by 129.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 26,596 shares of the construction company’s stock worth $165,000 after purchasing an additional 15,005 shares during the period. HighPoint Advisor Group LLC acquired a new position in Great Lakes Dredge & Dock in the 2nd quarter worth about $216,000. Essex Investment Management Co. LLC acquired a new position in Great Lakes Dredge & Dock in the 2nd quarter worth about $329,000. Finally, Citadel Advisors LLC raised its holdings in Great Lakes Dredge & Dock by 170.7% in the 3rd quarter. Citadel Advisors LLC now owns 64,100 shares of the construction company’s stock worth $397,000 after purchasing an additional 40,421 shares during the period. 72.73% of the stock is owned by institutional investors.

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Great Lakes Dredge & Dock Company Profile (NASDAQ:GLDD)

Great Lakes Dredge & Dock Corporation provides dredging services in the United States and internationally. It operates through two segments, Dredging, and Environmental & Infrastructure. The Dredging segment is involved in capital dredging that consists of port expansion projects, coastal restoration and land reclamations, trench digging for pipelines, tunnels and cables, and other dredging related to the construction of breakwaters, jetties, canals, and other marine structures.

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