Great Lakes Dredge & Dock (NASDAQ:GLDD) Posts Earnings Results, Beats Estimates By $0.10 EPS

Great Lakes Dredge & Dock (NASDAQ:GLDD) released its quarterly earnings data on Monday. The construction company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.10, Zacks reports. Great Lakes Dredge & Dock had a return on equity of 16.71% and a net margin of 8.27%.The business had revenue of $256.45 million for the quarter, compared to the consensus estimate of $216.30 million.

Great Lakes Dredge & Dock Stock Performance

Shares of Great Lakes Dredge & Dock stock traded down $0.02 during trading on Wednesday, reaching $16.93. The company’s stock had a trading volume of 118,058 shares, compared to its average volume of 1,534,725. The company has a 50-day moving average price of $14.80 and a two-hundred day moving average price of $12.99. Great Lakes Dredge & Dock has a fifty-two week low of $7.51 and a fifty-two week high of $16.99. The firm has a market cap of $1.15 billion, a PE ratio of 15.82, a P/E/G ratio of 1.28 and a beta of 1.42. The company has a current ratio of 1.20, a quick ratio of 1.06 and a debt-to-equity ratio of 0.83.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Weiss Ratings raised Great Lakes Dredge & Dock from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, January 21st. Zacks Research downgraded shares of Great Lakes Dredge & Dock from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 3rd. Noble Financial cut shares of Great Lakes Dredge & Dock from an “outperform” rating to a “market perform” rating in a report on Thursday, February 12th. CJS Securities raised shares of Great Lakes Dredge & Dock to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Great Lakes Dredge & Dock in a research note on Thursday, January 22nd. They set an “overweight” rating and a $20.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

Insider Transactions at Great Lakes Dredge & Dock

In other Great Lakes Dredge & Dock news, SVP David Johanson sold 10,000 shares of Great Lakes Dredge & Dock stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $13.02, for a total value of $130,200.00. Following the transaction, the senior vice president directly owned 94,063 shares in the company, valued at approximately $1,224,700.26. The trade was a 9.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Great Lakes Dredge & Dock

Several hedge funds have recently made changes to their positions in GLDD. Royal Bank of Canada increased its position in Great Lakes Dredge & Dock by 9.9% in the 1st quarter. Royal Bank of Canada now owns 35,035 shares of the construction company’s stock valued at $305,000 after acquiring an additional 3,169 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in shares of Great Lakes Dredge & Dock in the 1st quarter valued at approximately $304,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Great Lakes Dredge & Dock by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,190 shares of the construction company’s stock valued at $341,000 after purchasing an additional 1,653 shares during the period. Empowered Funds LLC purchased a new stake in shares of Great Lakes Dredge & Dock during the first quarter worth approximately $1,726,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Great Lakes Dredge & Dock by 1.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 246,766 shares of the construction company’s stock worth $2,147,000 after purchasing an additional 3,042 shares during the last quarter. Institutional investors and hedge funds own 89.11% of the company’s stock.

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.