Inspire Investing LLC Acquires Shares of 72,594 Great Lakes Dredge & Dock Corporation $GLDD

Key Points

• Inspire Investing LLC recently acquired 72,594 shares of Great Lakes Dredge & Dock Corporation (ticker: GLDD), valued at approximately $885,000, representing about 0.11% of the company's total stock.
• Hedge funds now own approximately 89.11% of Great Lakes Dredge & Dock, with notable increases in stakes from several institutions, including Victory Capital Management Inc. and GAMMA Investing LLC.
• Great Lakes Dredge & Dock's stock received a mix of ratings, with Zacks Research upgrading its rating to "strong-buy," while Weiss Ratings maintained a "hold (c+)" rating; the average rating is currently "Buy."

Inspire Investing LLC acquired a new stake in shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 72,594 shares of the construction company's stock, valued at approximately $885,000. Inspire Investing LLC owned approximately 0.11% of Great Lakes Dredge & Dock at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Victory Capital Management Inc. lifted its stake in Great Lakes Dredge & Dock by 19.6% during the first quarter. Victory Capital Management Inc. now owns 116,000 shares of the construction company's stock valued at $1,009,000 after buying an additional 19,000 shares in the last quarter. GAMMA Investing LLC lifted its stake in Great Lakes Dredge & Dock by 800.5% during the first quarter. GAMMA Investing LLC now owns 16,965 shares of the construction company's stock valued at $148,000 after buying an additional 15,081 shares in the last quarter. Minerva Advisors LLC lifted its stake in Great Lakes Dredge & Dock by 3.6% during the first quarter. Minerva Advisors LLC now owns 1,389,807 shares of the construction company's stock valued at $12,091,000 after buying an additional 48,000 shares in the last quarter. Mirabaud & Cie SA purchased a new stake in Great Lakes Dredge & Dock during the first quarter valued at about $209,000. Finally, Nuveen LLC purchased a new stake in Great Lakes Dredge & Dock during the first quarter valued at about $3,960,000. 89.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GLDD has been the subject of a number of research analyst reports. Weiss Ratings reissued a "hold (c+)" rating on shares of Great Lakes Dredge & Dock in a research report on Wednesday. Zacks Research raised shares of Great Lakes Dredge & Dock to a "strong-buy" rating in a research report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy".

Great Lakes Dredge & Dock Price Performance

NASDAQ GLDD opened at $11.21 on Friday. The company has a 50 day simple moving average of $11.74 and a 200-day simple moving average of $10.97. 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 $762.22 million, a price-to-earnings ratio of 10.68, a price-to-earnings-growth ratio of 0.92 and a beta of 1.37. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.15 and a quick ratio of 1.02.

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

Great Lakes Dredge & Dock Company Profile

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.

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