Great Lakes Dredge & Dock (NASDAQ:GLDD) Reaches New 12-Month High at $10.13

Great Lakes Dredge & Dock Co. (NASDAQ:GLDD - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $10.13 and last traded at $9.98, with a volume of 137790 shares changing hands. The stock had previously closed at $9.84.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Great Lakes Dredge & Dock from a "buy" rating to a "hold" rating in a research report on Thursday, August 15th.

Great Lakes Dredge & Dock Trading Up 2.9 %

The firm has a market cap of $678.80 million, a PE ratio of 18.26, a P/E/G ratio of 0.36 and a beta of 1.14. The company's fifty day moving average price is $8.90 and its two-hundred day moving average price is $8.68. The company has a quick ratio of 1.06, a current ratio of 1.25 and a debt-to-equity ratio of 0.93.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.11 earnings per share for the quarter, beating analysts' consensus estimates of $0.03 by $0.08. Great Lakes Dredge & Dock had a return on equity of 8.83% and a net margin of 6.05%. The firm had revenue of $170.09 million for the quarter, compared to the consensus estimate of $165.00 million. During the same period in the previous year, the business earned $0.03 earnings per share. As a group, sell-side analysts forecast that Great Lakes Dredge & Dock Co. will post 0.72 earnings per share for the current fiscal year.

Insider Activity at Great Lakes Dredge & Dock

In related news, CEO Lasse Petterson sold 46,510 shares of the business's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $9.08, for a total value of $422,310.80. Following the sale, the chief executive officer now directly owns 931,101 shares in the company, valued at approximately $8,454,397.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 128,990 shares of company stock valued at $1,174,747 in the last ninety days. Corporate insiders own 2.20% of the company's stock.

Institutional Trading of Great Lakes Dredge & Dock

A number of large investors have recently made changes to their positions in GLDD. Quarry LP boosted its position in Great Lakes Dredge & Dock by 68.5% during the second quarter. Quarry LP now owns 3,097 shares of the construction company's stock worth $27,000 after acquiring an additional 1,259 shares during the last quarter. Innealta Capital LLC purchased a new stake in shares of Great Lakes Dredge & Dock in the second quarter valued at $30,000. CWM LLC grew its position in shares of 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 purchasing an additional 4,237 shares during the period. 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. Finally, Quadrature Capital Ltd acquired a new stake in Great Lakes Dredge & Dock in the 4th quarter worth about $113,000. 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.