Great Lakes Dredge & Dock (NASDAQ:GLDD) Downgraded to “Hold” at StockNews.com

StockNews.com cut shares of Great Lakes Dredge & Dock (NASDAQ:GLDDFree Report) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

Separately, TheStreet raised Great Lakes Dredge & Dock from a d+ rating to a c- rating in a research report on Tuesday, February 20th.

Read Our Latest Stock Analysis on Great Lakes Dredge & Dock

Great Lakes Dredge & Dock Price Performance

Shares of NASDAQ:GLDD traded down $0.12 during trading hours on Friday, hitting $9.48. 359,955 shares of the company’s stock traded hands, compared to its average volume of 496,921. The company’s fifty day simple moving average is $8.22 and its two-hundred day simple moving average is $7.81. The company has a market cap of $635.25 million, a price-to-earnings ratio of 16.63, a price-to-earnings-growth ratio of 1.32 and a beta of 1.00. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.06 and a current ratio of 1.25. Great Lakes Dredge & Dock has a 52 week low of $6.11 and a 52 week high of $9.78.

Great Lakes Dredge & Dock (NASDAQ:GLDDGet Free Report) last posted its quarterly earnings results on Wednesday, February 14th. The construction company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.16. Great Lakes Dredge & Dock had a net margin of 6.05% and a return on equity of 8.83%. The firm had revenue of $181.73 million for the quarter, compared to analyst estimates of $190.05 million. As a group, equities analysts anticipate that Great Lakes Dredge & Dock will post 0.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Great Lakes Dredge & Dock

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GLDD. Acuitas Investments LLC acquired a new position in shares of Great Lakes Dredge & Dock in the 4th quarter valued at about $2,416,000. Private Management Group Inc. lifted its position in Great Lakes Dredge & Dock by 18.0% in the 4th quarter. Private Management Group Inc. now owns 1,223,133 shares of the construction company’s stock worth $9,394,000 after buying an additional 186,653 shares in the last quarter. Essex Investment Management Co. LLC acquired a new stake in shares of Great Lakes Dredge & Dock during the 3rd quarter valued at $2,583,000. Wellington Management Group LLP grew its holdings in shares of Great Lakes Dredge & Dock by 45.2% during the 3rd quarter. Wellington Management Group LLP now owns 439,986 shares of the construction company’s stock valued at $3,507,000 after acquiring an additional 136,901 shares in the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of Great Lakes Dredge & Dock by 9.3% during the 4th quarter. Jennison Associates LLC now owns 4,299,418 shares of the construction company’s stock valued at $33,020,000 after acquiring an additional 366,923 shares in the last quarter. Institutional investors and hedge funds own 89.11% of the company’s stock.

Great Lakes Dredge & Dock Company Profile

(Get Free Report)

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