Great Lakes Dredge & Dock (NASDAQ:GLDD) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Great Lakes Dredge & Dock (NASDAQ:GLDD) from a buy rating to a hold rating in a report published on Friday.

Great Lakes Dredge & Dock Price Performance

Shares of GLDD opened at $9.48 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.06 and a debt-to-equity ratio of 0.93. The firm’s fifty day simple moving average is $8.99 and its 200-day simple moving average is $8.44. The firm has a market capitalization of $635.25 million, a price-to-earnings ratio of 16.63, a PEG ratio of 0.37 and a beta of 1.14. Great Lakes Dredge & Dock has a twelve month low of $6.11 and a twelve month high of $9.78.

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

Hedge Funds Weigh In On Great Lakes Dredge & Dock

Several hedge funds have recently added to or reduced their stakes in the stock. CWM LLC lifted its position in shares of Great Lakes Dredge & Dock by 520.5% during the 2nd quarter. CWM LLC now owns 5,051 shares of the construction company’s stock worth $44,000 after buying an additional 4,237 shares during the last quarter. ARS Investment Partners LLC grew its holdings in shares of 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 purchasing an additional 1,200 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Great Lakes Dredge & Dock during the fourth quarter worth about $113,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Great Lakes Dredge & Dock by 23.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,955 shares of the construction company’s stock valued at $123,000 after purchasing an additional 3,011 shares during the last quarter. Finally, Bayesian Capital Management LP acquired a new stake in shares of Great Lakes Dredge & Dock in the 1st quarter valued at about $137,000. 89.11% of the stock is currently owned by hedge funds and other institutional investors.

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.