Great Lakes Dredge & Dock (NASDAQ:GLDD) Given “Neutral” Rating at JPMorgan Chase & Co.

JPMorgan Chase & Co. reaffirmed their neutral rating on shares of Great Lakes Dredge & Dock (NASDAQ:GLDD) in a report issued on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has a $17.00 price target on the construction company’s stock.

Other equities research analysts also recently issued research reports about the stock. Weiss Ratings raised shares of Great Lakes Dredge & Dock from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, January 21st. Wall Street Zen lowered shares of Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a report on Saturday, January 24th. CJS Securities upgraded shares of Great Lakes Dredge & Dock to a “strong-buy” rating in a research note on Thursday, December 11th. Texas Capital lowered shares of Great Lakes Dredge & Dock from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 11th. Finally, Zacks Research downgraded shares of Great Lakes Dredge & Dock from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $17.00.

Great Lakes Dredge & Dock Price Performance

NASDAQ:GLDD opened at $16.95 on Wednesday. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 15.84, a PEG ratio of 1.26 and a beta of 1.38. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.01 and a quick ratio of 0.88. The business has a 50 day simple moving average of $15.22 and a 200-day simple moving average of $13.21. Great Lakes Dredge & Dock has a 1 year low of $7.51 and a 1 year high of $16.99.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last released its quarterly earnings results on Monday, February 23rd. The construction company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.10. The company had revenue of $256.45 million for the quarter, compared to analyst estimates of $216.30 million. Great Lakes Dredge & Dock had a return on equity of 16.46% and a net margin of 8.27%. Equities analysts forecast that Great Lakes Dredge & Dock will post 0.69 EPS for the current year.

Insider Buying and Selling at Great Lakes Dredge & Dock

In related news, SVP David Johanson sold 2,100 shares of Great Lakes Dredge & Dock stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $13.96, for a total transaction of $29,316.00. Following the transaction, the senior vice president directly owned 91,963 shares of the company’s stock, valued at $1,283,803.48. This trade represents a 2.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in GLDD. ProShare Advisors LLC boosted its position in Great Lakes Dredge & Dock by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 12,168 shares of the construction company’s stock valued at $160,000 after purchasing an additional 786 shares in the last quarter. MAI Capital Management lifted its position in shares of Great Lakes Dredge & Dock by 79.2% during the third quarter. MAI Capital Management now owns 2,161 shares of the construction company’s stock valued at $26,000 after buying an additional 955 shares during the last quarter. State of Wyoming boosted its holdings in shares of Great Lakes Dredge & Dock by 3.3% in the 3rd quarter. State of Wyoming now owns 36,148 shares of the construction company’s stock valued at $433,000 after buying an additional 1,142 shares in the last quarter. AE Wealth Management LLC grew its position in shares of Great Lakes Dredge & Dock by 8.1% in the 3rd quarter. AE Wealth Management LLC now owns 19,175 shares of the construction company’s stock worth $230,000 after buying an additional 1,443 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of Great Lakes Dredge & Dock by 231.4% during the 4th quarter. Farther Finance Advisors LLC now owns 2,111 shares of the construction company’s stock worth $28,000 after acquiring an additional 1,474 shares in the last quarter. 89.11% of the stock is owned by institutional investors.

Great Lakes Dredge & Dock Company 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.