Groupe la Francaise acquired a new stake in shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 128,598 shares of the construction company's stock, valued at approximately $2,186,000. Groupe la Francaise owned about 0.19% of Great Lakes Dredge & Dock at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in GLDD. Oddo BHF Asset Management Sas bought a new position in shares of Great Lakes Dredge & Dock during the first quarter valued at $19,829,000. OMERS ADMINISTRATION Corp bought a new position in Great Lakes Dredge & Dock in the 1st quarter worth about $14,688,000. Millennium Management LLC grew its position in Great Lakes Dredge & Dock by 228.7% during the 3rd quarter. Millennium Management LLC now owns 1,146,135 shares of the construction company's stock valued at $13,742,000 after purchasing an additional 797,411 shares during the last quarter. Gabelli Funds LLC purchased a new stake in Great Lakes Dredge & Dock during the 1st quarter valued at about $8,594,000. Finally, Cubist Systematic Strategies LLC increased its stake in Great Lakes Dredge & Dock by 404.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 492,191 shares of the construction company's stock valued at $6,000,000 after purchasing an additional 394,543 shares in the last quarter. 89.11% of the stock is owned by institutional investors.
Analyst Ratings Changes
Separately, Wall Street Zen raised shares of Great Lakes Dredge & Dock to a "strong-buy" rating in a report on Saturday, April 4th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $17.00.
Read Our Latest Stock Report on Great Lakes Dredge & Dock
Great Lakes Dredge & Dock Stock Performance
Shares of GLDD opened at $17.00 on Friday. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 15.89, a P/E/G ratio of 1.26 and a beta of 1.38. The business's fifty day simple moving average is $15.47 and its two-hundred day simple moving average is $16.15. Great Lakes Dredge & Dock Corporation has a 12 month low of $8.80 and a 12 month high of $17.02. The company has a current ratio of 1.01, a quick ratio of 0.88 and a debt-to-equity ratio of 0.73.
About Great Lakes Dredge & Dock
(
Free Report)
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.
See Also
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