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

StockNews.com cut shares of Great Lakes Dredge & Dock (NASDAQ:GLDD) from a buy rating to a hold rating in a research report released on Saturday morning.

Great Lakes Dredge & Dock Stock Up 0.2 %

Shares of Great Lakes Dredge & Dock stock opened at $9.46 on Friday. The company has a fifty day moving average price of $8.99 and a 200 day moving average price of $8.48. The company has a current ratio of 1.25, a quick ratio of 1.06 and a debt-to-equity ratio of 0.93. Great Lakes Dredge & Dock has a twelve month low of $6.11 and a twelve month high of $9.93. The stock has a market cap of $633.91 million, a price-to-earnings ratio of 16.60, a price-to-earnings-growth ratio of 0.38 and a beta of 1.14.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last issued its quarterly earnings data on Tuesday, May 7th. The construction company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.25. The company had revenue of $198.66 million during the quarter, compared to the consensus estimate of $176.45 million. Great Lakes Dredge & Dock had a net margin of 6.05% and a return on equity of 8.83%. Equities research analysts forecast that Great Lakes Dredge & Dock will post 0.72 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. CWM LLC raised its holdings in Great Lakes Dredge & Dock by 520.5% in the second quarter. CWM LLC now owns 5,051 shares of the construction company’s stock valued at $44,000 after acquiring an additional 4,237 shares in the last quarter. ARS Investment Partners LLC raised its stake in shares of Great Lakes Dredge & Dock by 11.0% in the 2nd quarter. ARS Investment Partners LLC now owns 12,150 shares of the construction company’s stock valued at $107,000 after purchasing an additional 1,200 shares in the last quarter. Quadrature Capital Ltd bought a new position in shares of Great Lakes Dredge & Dock during the fourth quarter worth about $113,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Great Lakes Dredge & Dock by 23.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,955 shares of the construction company’s stock worth $123,000 after purchasing an additional 3,011 shares in the last quarter. Finally, Bayesian Capital Management LP bought a new stake in Great Lakes Dredge & Dock in the first quarter valued at about $137,000. Institutional investors and hedge funds own 89.11% of the company’s stock.

About Great Lakes Dredge & Dock

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.