Nuveen LLC Purchases New Position in Great Lakes Dredge & Dock Corporation $GLDD

Key Points

• Nuveen LLC has acquired a new position in Great Lakes Dredge & Dock Corporation, purchasing 455,148 shares valued at approximately $3,960,000, representing about 0.67% of the company's total shares.
• The company reported a net margin of 8.63% and a return on equity of 15.61% during its last quarterly earnings, exceeding analysts' expectations with earnings of $0.14 per share.
• Wall Street analysts have a consensus rating of "Strong Buy" for Great Lakes Dredge & Dock, with an average price target of $14.00, reflecting positive sentiment toward the stock's future performance.

Nuveen LLC bought a new position in shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 455,148 shares of the construction company's stock, valued at approximately $3,960,000. Nuveen LLC owned about 0.67% of Great Lakes Dredge & Dock at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Great Lakes Dredge & Dock by 3.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,537 shares of the construction company's stock worth $424,000 after buying an additional 1,235 shares during the last quarter. Hsbc Holdings PLC grew its stake in Great Lakes Dredge & Dock by 5.7% during the 4th quarter. Hsbc Holdings PLC now owns 39,984 shares of the construction company's stock worth $453,000 after buying an additional 2,150 shares during the last quarter. MetLife Investment Management LLC grew its stake in Great Lakes Dredge & Dock by 5.9% during the 4th quarter. MetLife Investment Management LLC now owns 39,877 shares of the construction company's stock worth $450,000 after buying an additional 2,213 shares during the last quarter. Invesco Ltd. grew its stake in Great Lakes Dredge & Dock by 2.2% during the 4th quarter. Invesco Ltd. now owns 182,591 shares of the construction company's stock worth $2,061,000 after buying an additional 3,867 shares during the last quarter. Finally, Byrne Asset Management LLC purchased a new position in Great Lakes Dredge & Dock during the 1st quarter worth $40,000. 89.11% of the stock is currently owned by hedge funds and other institutional investors.

Great Lakes Dredge & Dock Stock Performance

Shares of GLDD stock traded down $0.04 on Tuesday, hitting $11.62. The company had a trading volume of 514,520 shares, compared to its average volume of 393,121. The firm has a market cap of $790.16 million, a P/E ratio of 11.07, a price-to-earnings-growth ratio of 0.96 and a beta of 1.34. The company has a 50-day moving average price of $11.49 and a 200-day moving average price of $10.31. The company has a quick ratio of 1.02, a current ratio of 1.15 and a debt-to-equity ratio of 0.87. Great Lakes Dredge & Dock Corporation has a twelve month low of $7.51 and a twelve month high of $12.89.

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

Analyst Ratings Changes

A number of analysts have commented on the company. Zacks Research raised Great Lakes Dredge & Dock to a "strong-buy" rating in a research report on Tuesday, August 12th. Wall Street Zen raised Great Lakes Dredge & Dock from a "hold" rating to a "buy" rating in a research report on Monday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to data from MarketBeat.com, Great Lakes Dredge & Dock has an average rating of "Strong Buy" and an average price target of $14.00.

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.