ValuEngine lowered shares of Great Lakes Dredge & Dock (NASDAQ:GLDD) from a buy rating to a hold rating in a research report report published on Tuesday, ValuEngine reports.

Several other research firms have also weighed in on GLDD. Zacks Investment Research upgraded shares of Great Lakes Dredge & Dock from a hold rating to a strong-buy rating and set a $12.00 price objective on the stock in a research note on Friday, August 2nd. BidaskClub raised shares of Great Lakes Dredge & Dock from a hold rating to a buy rating in a report on Wednesday, August 28th. Finally, Noble Financial set a $14.00 price objective on shares of Great Lakes Dredge & Dock and gave the stock a buy rating in a report on Wednesday, August 21st.

Shares of NASDAQ:GLDD traded up $0.17 during midday trading on Tuesday, hitting $10.16. 17,060 shares of the company’s stock traded hands, compared to its average volume of 437,130. Great Lakes Dredge & Dock has a twelve month low of $5.37 and a twelve month high of $11.81. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.18 and a current ratio of 1.31. The company has a market cap of $637.66 million, a PE ratio of 28.22 and a beta of 0.60. The firm’s fifty day moving average price is $10.54 and its two-hundred day moving average price is $10.17.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last announced its quarterly earnings data on Wednesday, July 31st. The construction company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.06. Great Lakes Dredge & Dock had a net margin of 3.90% and a return on equity of 22.64%. The business had revenue of $184.81 million during the quarter, compared to the consensus estimate of $181.65 million. During the same quarter in the prior year, the firm earned $0.02 EPS. The company’s revenue for the quarter was up 36.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Great Lakes Dredge & Dock will post 0.74 EPS for the current fiscal year.

In other Great Lakes Dredge & Dock news, insider David E. Simonelli sold 3,809 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $10.90, for a total transaction of $41,518.10. Following the completion of the sale, the insider now owns 322,048 shares of the company’s stock, valued at approximately $3,510,323.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ryan Levenson sold 21,905 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $10.14, for a total transaction of $222,116.70. Following the sale, the director now directly owns 35,816 shares of the company’s stock, valued at approximately $363,174.24. The disclosure for this sale can be found here. Insiders sold 26,878 shares of company stock worth $276,171 over the last 90 days. 4.66% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the business. New York State Teachers Retirement System bought a new stake in shares of Great Lakes Dredge & Dock during the 1st quarter valued at about $45,000. Nkcfo LLC purchased a new stake in shares of Great Lakes Dredge & Dock in the second quarter worth $52,000. BNP Paribas Arbitrage SA grew its stake in shares of Great Lakes Dredge & Dock by 415.7% in the first quarter. BNP Paribas Arbitrage SA now owns 11,882 shares of the construction company’s stock worth $106,000 after acquiring an additional 9,578 shares during the last quarter. Hancock Whitney Corp bought a new position in shares of Great Lakes Dredge & Dock during the second quarter valued at $125,000. Finally, SG Americas Securities LLC bought a new position in Great Lakes Dredge & Dock in the first quarter valued at about $126,000. 85.76% of the stock is owned by institutional investors and hedge funds.

Great Lakes Dredge & Dock Company Profile

Great Lakes Dredge & Dock Corporation provides dredging services in the United States and internationally. The company 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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