Charles Schwab Investment Management Inc. Has $4.67 Million Position in Great Lakes Dredge & Dock Corporation $GLDD

Key Points

• Charles Schwab Investment Management Inc. reduced its holdings in Great Lakes Dredge & Dock by 22.4%, selling 155,270 shares and retaining a total of 536,718 shares worth approximately $4.67 million.
• Other investors, including Wells Fargo and Barclays, have increased their stakes, highlighting strong institutional interest with 89.11% of the stock owned by institutional investors and hedge funds.
• Great Lakes Dredge & Dock recently received an upgrade to a "strong-buy" rating from Zacks Research, with an average target price of $14.00 per share.

Charles Schwab Investment Management Inc. cut its holdings in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD - Free Report) by 22.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 536,718 shares of the construction company's stock after selling 155,270 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.80% of Great Lakes Dredge & Dock worth $4,669,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Byrne Asset Management LLC acquired a new position in shares of Great Lakes Dredge & Dock in the first quarter valued at about $40,000. Lazard Asset Management LLC acquired a new position in shares of Great Lakes Dredge & Dock in the fourth quarter valued at about $118,000. XTX Topco Ltd acquired a new position in shares of Great Lakes Dredge & Dock in the first quarter valued at about $130,000. GAMMA Investing LLC grew its stake in shares of Great Lakes Dredge & Dock by 800.5% in the first quarter. GAMMA Investing LLC now owns 16,965 shares of the construction company's stock valued at $148,000 after acquiring an additional 15,081 shares in the last quarter. Finally, LPL Financial LLC acquired a new position in shares of Great Lakes Dredge & Dock in the fourth quarter valued at about $162,000. 89.11% of the stock is currently owned by institutional investors and hedge funds.

Great Lakes Dredge & Dock Price Performance

GLDD stock traded down $0.03 during mid-day trading on Wednesday, hitting $11.59. The stock had a trading volume of 398,184 shares, compared to its average volume of 393,121. The company has a current ratio of 1.15, a quick ratio of 1.02 and a debt-to-equity ratio of 0.87. Great Lakes Dredge & Dock Corporation has a 52 week low of $7.51 and a 52 week high of $12.89. The firm has a market capitalization of $788.12 million, a P/E ratio of 11.04, a P/E/G ratio of 0.96 and a beta of 1.34. The firm has a fifty day simple moving average of $11.48 and a 200 day simple moving average of $10.32.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last released its earnings results on Tuesday, August 5th. The construction company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.08 by $0.06. Great Lakes Dredge & Dock had a net margin of 8.63% and a return on equity of 15.61%. The firm had revenue of $193.76 million for the quarter, compared to analyst estimates of $177.70 million. As a group, research analysts forecast that Great Lakes Dredge & Dock Corporation will post 0.69 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Wall Street Zen upgraded shares of Great Lakes Dredge & Dock from a "hold" rating to a "buy" rating in a research note on Monday, May 19th. Zacks Research upgraded shares of Great Lakes Dredge & Dock to a "strong-buy" rating in a research note on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Strong Buy" and an average price target of $14.00.

About Great Lakes Dredge & Dock

Great Lakes Dredge & Dock Corp. engages in the provision of dredging services. Its projects include channel and port maintenance, channel deepening and port expansion, coastal protection and restoration, as well as land reclamation. The company was founded by William A. Lydon and Frederick C. Drews in 1890 and is headquartered in Houston, TX.