Great Lakes Dredge & Dock (NASDAQ:GLDD) Research Coverage Started at JPMorgan Chase & Co.

JPMorgan Chase & Co. began coverage on shares of Great Lakes Dredge & Dock (NASDAQ:GLDD) in a report published on Thursday, Marketbeat.com reports. The brokerage issued an overweight rating and a $20.00 price objective on the construction company’s stock.

A number of other analysts have also recently commented on GLDD. Zacks Research cut shares of Great Lakes Dredge & Dock from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. CJS Securities upgraded shares of Great Lakes Dredge & Dock to a “strong-buy” rating in a report on Thursday, December 11th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Great Lakes Dredge & Dock in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Great Lakes Dredge & Dock currently has an average rating of “Buy” and a consensus price target of $20.00.

Great Lakes Dredge & Dock Stock Performance

Shares of Great Lakes Dredge & Dock stock opened at $15.41 on Thursday. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 1.13 and a beta of 1.40. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.20 and a quick ratio of 1.06. The firm’s 50-day moving average is $13.38 and its 200 day moving average is $12.23. Great Lakes Dredge & Dock has a 1 year low of $7.51 and a 1 year high of $16.72.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last released its quarterly earnings data on Tuesday, November 4th. The construction company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.09. Great Lakes Dredge & Dock had a return on equity of 16.84% and a net margin of 9.65%.The business had revenue of $195.21 million for the quarter, compared to analysts’ expectations of $201.30 million. Sell-side analysts anticipate that Great Lakes Dredge & Dock will post 0.69 EPS for the current fiscal year.

Insider Activity

In other news, SVP David Johanson sold 10,000 shares of the business’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $13.02, for a total value of $130,200.00. Following the completion of the transaction, the senior vice president directly owned 94,063 shares of the company’s stock, valued at approximately $1,224,700.26. The trade was a 9.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.20% of the company’s stock.

Institutional Trading of Great Lakes Dredge & Dock

Several hedge funds and other institutional investors have recently made changes to their positions in the business. HB Wealth Management LLC purchased a new stake in Great Lakes Dredge & Dock in the 3rd quarter worth approximately $1,058,000. Employees Retirement System of Texas acquired a new stake in Great Lakes Dredge & Dock during the second quarter worth about $442,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Great Lakes Dredge & Dock by 99.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 494,033 shares of the construction company’s stock worth $5,884,000 after buying an additional 246,007 shares during the last quarter. Atria Investments Inc acquired a new position in shares of Great Lakes Dredge & Dock in the 2nd quarter valued at $156,000. Finally, Geode Capital Management LLC raised its holdings in Great Lakes Dredge & Dock by 3.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,656,547 shares of the construction company’s stock valued at $20,195,000 after buying an additional 51,269 shares during the period. Hedge funds and other institutional investors own 89.11% of the company’s stock.

About Great Lakes Dredge & Dock

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.