1,166,388 Shares in Great Lakes Dredge & Dock Corporation $GLDD Purchased by Oddo BHF Asset Management Sas

Key Points

• Oddo BHF Asset Management purchased 1,166,388 Great Lakes Dredge & Dock shares worth approximately $19.8 million, giving it a roughly 1.75% stake.
• Institutional investors and hedge funds own 89.11% of GLDD, while the stock recently traded near its 52-week high at $17.00.
• Analyst sentiment remains mixed: GLDD has an overall “Hold” consensus with a $17.00 price target, despite Wall Street Zen upgrading the stock to “strong buy.”

Oddo BHF Asset Management Sas bought a new stake in shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 1,166,388 shares of the construction company's stock, valued at approximately $19,829,000. Oddo BHF Asset Management Sas owned approximately 1.75% of Great Lakes Dredge & Dock at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Financial Management Professionals Inc. purchased a new stake in shares of Great Lakes Dredge & Dock in the fourth quarter valued at about $25,000. Farther Finance Advisors LLC increased its stake in shares of Great Lakes Dredge & Dock by 231.4% during the 4th quarter. Farther Finance Advisors LLC now owns 2,111 shares of the construction company's stock worth $28,000 after purchasing an additional 1,474 shares in the last quarter. Parallel Advisors LLC increased its stake in shares of Great Lakes Dredge & Dock by 39.0% during the 1st quarter. Parallel Advisors LLC now owns 2,304 shares of the construction company's stock worth $39,000 after purchasing an additional 647 shares in the last quarter. Strs Ohio acquired a new position in shares of Great Lakes Dredge & Dock during the 1st quarter worth approximately $45,000. Finally, Bogart Wealth LLC purchased a new stake in Great Lakes Dredge & Dock in the 1st quarter valued at approximately $51,000. Institutional investors and hedge funds own 89.11% of the company's stock.

Great Lakes Dredge & Dock Stock Performance

Great Lakes Dredge & Dock stock opened at $17.00 on Thursday. The stock has a fifty day moving average price of $15.47 and a 200 day moving average price of $16.12. Great Lakes Dredge & Dock Corporation has a 52 week low of $8.80 and a 52 week high of $17.02. The firm has a market capitalization of $1.14 billion, a P/E ratio of 15.89, a PEG ratio of 1.26 and a beta of 1.38. The company has a current ratio of 1.01, a quick ratio of 0.88 and a debt-to-equity ratio of 0.73.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Great Lakes Dredge & Dock to a "strong-buy" rating in a report on Saturday, April 4th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Great Lakes Dredge & Dock currently has an average rating of "Hold" and a consensus price target of $17.00.

About Great Lakes Dredge & Dock

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.

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