Great Lakes Dredge & Dock (NASDAQ:GLDD) Price Target Raised to $14.00

Great Lakes Dredge & Dock (NASDAQ:GLDD - Free Report) had its price target raised by Noble Financial from $11.00 to $14.00 in a report released on Monday, Benzinga reports. Noble Financial currently has an outperform rating on the construction company's stock.

Get GLDD alerts:

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

Check Out Our Latest Research Report on GLDD

Great Lakes Dredge & Dock Stock Up 2.4 %

NASDAQ:GLDD traded up $0.25 during mid-day trading on Monday, reaching $10.70. The stock had a trading volume of 420,957 shares, compared to its average volume of 433,448. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.32 and a quick ratio of 1.13. The company has a market capitalization of $717.00 million, a price-to-earnings ratio of 18.79, a price-to-earnings-growth ratio of 0.34 and a beta of 1.15. Great Lakes Dredge & Dock has a 1-year low of $6.11 and a 1-year high of $10.93. The stock's 50 day simple moving average is $9.30 and its two-hundred day simple moving average is $8.80.

Ad WealthPress

Only 1% of people know about these Hotspot Dates

Did you know almost every stock in the market has multiple “Hotspot Dates”? They indicate when the stock has gone up on the same dates… at the same time… FOR DECADES For example, have you ever traded a stock called Constellation Energy (ticker: CEG)? Maybe not… Energy stocks haven’t received much love over the past 12 months. But anybody who knew about the “Hotspot Date” during the last week in January…

Go here to get Roger’s top FIVE Hotspot Stocks for This Month!

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last issued its earnings results on Tuesday, August 6th. The construction company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.03 by $0.08. Great Lakes Dredge & Dock had a return on equity of 10.05% and a net margin of 6.61%. The company had revenue of $170.09 million during the quarter, compared to analyst estimates of $165.00 million. During the same quarter last year, the firm earned $0.03 EPS. Equities analysts anticipate that Great Lakes Dredge & Dock will post 0.8 EPS for the current year.

Insider Buying and Selling

In other news, CEO Lasse Petterson sold 46,510 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $9.08, for a total value of $422,310.80. Following the completion of the transaction, the chief executive officer now owns 931,101 shares of the company's stock, valued at $8,454,397.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 128,990 shares of company stock valued at $1,174,747 in the last three months. 2.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. 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. Quarry LP boosted its holdings 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 buying an additional 1,259 shares in the last quarter. Creative Planning grew its position in Great Lakes Dredge & Dock by 8.2% in the second quarter. Creative Planning now owns 38,688 shares of the construction company's stock worth $340,000 after buying an additional 2,919 shares during the last quarter. Innealta Capital LLC bought a new position in shares of Great Lakes Dredge & Dock in the second quarter valued at $30,000. Finally, Quadrature Capital Ltd lifted its position in shares of Great Lakes Dredge & Dock by 23.7% during the 1st quarter. Quadrature Capital Ltd now owns 18,278 shares of the construction company's stock valued at $160,000 after acquiring an additional 3,506 shares during 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.

Featured Articles

→ The #1 day to buy Walmart stock (From DTI) (Ad)

Should you invest $1,000 in Great Lakes Dredge & Dock right now?

Before you consider Great Lakes Dredge & Dock, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Great Lakes Dredge & Dock wasn't on the list.

While Great Lakes Dredge & Dock currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

7 Stocks to Own Before the 2024 Election

Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.

Get This Free Report