Great Lakes Dredge & Dock Co. (NASDAQ:GLDD - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $11.61, but opened at $11.00. Great Lakes Dredge & Dock shares last traded at $11.41, with a volume of 176,812 shares trading hands.
Analysts Set New Price Targets
A number of research firms have commented on GLDD. StockNews.com downgraded shares of Great Lakes Dredge & Dock from a "buy" rating to a "hold" rating in a research note on Thursday, August 15th. Noble Financial increased their price objective 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.
Read Our Latest Report on GLDD
Great Lakes Dredge & Dock Price Performance
The company has a market capitalization of $780.08 million, a price-to-earnings ratio of 17.86, a PEG ratio of 0.42 and a beta of 1.13. The stock's fifty day simple moving average is $10.81 and its two-hundred day simple moving average is $9.50. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.32 and a quick ratio of 1.13.
Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last issued its earnings results on Tuesday, August 6th. The construction company reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates of $0.03 by $0.08. The company had revenue of $170.09 million for the quarter, compared to analysts' expectations of $165.00 million. Great Lakes Dredge & Dock had a net margin of 6.61% and a return on equity of 10.05%. During the same period in the prior year, the company earned $0.03 earnings per share. On average, sell-side analysts predict that Great Lakes Dredge & Dock Co. will post 0.8 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, CEO Lasse Petterson sold 53,771 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $9.06, for a total value of $487,165.26. Following the sale, the chief executive officer now owns 987,758 shares of the company's stock, valued at $8,949,087.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 128,990 shares of company stock valued at $1,174,747 in the last quarter. Company insiders own 2.10% of the company's stock.
Institutional Trading of Great Lakes Dredge & Dock
A number of large investors have recently modified their holdings of the company. Quarry LP boosted its position in shares of 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 purchasing an additional 1,259 shares in the last quarter. Innealta Capital LLC bought a new position in shares of Great Lakes Dredge & Dock during the 2nd quarter valued at about $30,000. nVerses Capital LLC boosted its position in shares of Great Lakes Dredge & Dock by 400.0% during the 3rd quarter. nVerses Capital LLC now owns 3,500 shares of the construction company's stock valued at $37,000 after purchasing an additional 2,800 shares in the last quarter. CWM LLC boosted 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 valued at $44,000 after purchasing an additional 4,237 shares in the last quarter. Finally, ARS Investment Partners LLC boosted its position in shares of Great Lakes Dredge & Dock by 11.0% during 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. Institutional investors and hedge funds own 89.11% of the company's stock.
About Great Lakes Dredge & Dock
(
Get Free Report)
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.
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