Great Lakes Dredge & Dock (NASDAQ:GLDD) Sets New 1-Year High – Still a Buy?

Shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) hit a new 52-week high during trading on Wednesday . The company traded as high as $12.42 and last traded at $12.32, with a volume of 41982 shares traded. The stock had previously closed at $11.61.

Analyst Ratings Changes

GLDD has been the subject of several analyst reports. Noble Financial increased their price target on shares of Great Lakes Dredge & Dock from $11.00 to $14.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd. StockNews.com cut Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research note on Thursday, August 15th.

Great Lakes Dredge & Dock Trading Down 0.6 %

The business’s 50-day simple moving average is $10.92 and its two-hundred day simple moving average is $9.54. The company has a quick ratio of 1.13, a current ratio of 1.32 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $831.81 million, a price-to-earnings ratio of 19.05, a PEG ratio of 0.41 and a beta of 1.13.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last posted its earnings results on Tuesday, November 5th. The construction company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.05). Great Lakes Dredge & Dock had a net margin of 6.61% and a return on equity of 10.05%. The company had revenue of $191.17 million during the quarter, compared to analyst estimates of $180.80 million. During the same quarter last year, the business posted ($0.09) EPS. Equities analysts forecast that Great Lakes Dredge & Dock Co. will post 0.8 earnings per share for the current year.

Insider Buying and Selling at Great Lakes Dredge & Dock

In related news, CEO Lasse Petterson sold 28,709 shares of Great Lakes Dredge & Dock stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $9.24, for a total value of $265,271.16. Following the completion of the transaction, the chief executive officer now owns 902,392 shares in the company, valued at approximately $8,338,102.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 128,990 shares of company stock valued at $1,174,747 in the last three months. 2.10% of the stock is owned by corporate insiders.

Institutional Trading of Great Lakes Dredge & Dock

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP raised its stake in Great Lakes Dredge & Dock by 68.5% during the 2nd quarter. Quarry LP now owns 3,097 shares of the construction company’s stock valued at $27,000 after acquiring an additional 1,259 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of Great Lakes Dredge & Dock during the second quarter valued at $30,000. nVerses Capital LLC grew its holdings in shares of Great Lakes Dredge & Dock by 400.0% during the third quarter. nVerses Capital LLC now owns 3,500 shares of the construction company’s stock worth $37,000 after buying an additional 2,800 shares in the last quarter. CWM LLC grew its stake in Great Lakes Dredge & Dock by 520.5% in the 2nd quarter. CWM LLC now owns 5,051 shares of the construction company’s stock worth $44,000 after acquiring an additional 4,237 shares during the period. Finally, ARS Investment Partners LLC lifted its position in Great Lakes Dredge & Dock by 11.0% during the second quarter. ARS Investment Partners LLC now owns 12,150 shares of the construction company’s stock worth $107,000 after buying an additional 1,200 shares during the period. Institutional investors and hedge funds own 89.11% of the company’s stock.

Great Lakes Dredge & Dock Company Profile

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.