Nwam LLC Takes Position in Great Lakes Dredge & Dock Corporation $GLDD

Key Points

• Nwam LLC bought a new stake in Great Lakes Dredge & Dock during the fourth quarter, purchasing 217,450 shares valued at about $2.85 million.
• Institutional ownership remains heavy, with several large investors including Dimensional Fund Advisors, Vanguard, and Millennium Management increasing their positions; overall, 89.11% of the stock is held by institutions.
• Great Lakes Dredge & Dock recently reported stronger-than-expected earnings, posting $0.30 EPS versus $0.20 expected and revenue of $256.45 million, while analysts currently rate the stock Hold with an average price target of $17.00.

Nwam LLC bought a new stake in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 217,450 shares of the construction company's stock, valued at approximately $2,853,000. Nwam LLC owned 0.32% of Great Lakes Dredge & Dock as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in shares of Great Lakes Dredge & Dock by 0.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,323,251 shares of the construction company's stock worth $51,835,000 after acquiring an additional 35,044 shares during the period. Vanguard Group Inc. raised its position in shares of Great Lakes Dredge & Dock by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 3,987,334 shares of the construction company's stock valued at $52,314,000 after purchasing an additional 108,033 shares during the period. American Century Companies Inc. raised its position in shares of Great Lakes Dredge & Dock by 10.6% in the third quarter. American Century Companies Inc. now owns 2,412,467 shares of the construction company's stock valued at $28,925,000 after purchasing an additional 231,558 shares during the period. Millennium Management LLC raised its position in shares of Great Lakes Dredge & Dock by 228.7% in the third 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 period. Finally, JPMorgan Chase & Co. raised its position in shares of Great Lakes Dredge & Dock by 12.6% in the third quarter. JPMorgan Chase & Co. now owns 888,739 shares of the construction company's stock valued at $10,656,000 after purchasing an additional 99,463 shares during the period. 89.11% of the stock is owned by institutional investors.

Great Lakes Dredge & Dock Stock Performance

NASDAQ GLDD opened at $17.00 on Monday. The firm has a 50-day moving average price of $16.97 and a two-hundred day moving average price of $14.83. 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 quick ratio of 0.88, a current ratio of 1.01 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $1.14 billion, a P/E ratio of 15.89, a P/E/G ratio of 1.26 and a beta of 1.38.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last posted its quarterly earnings data on Monday, February 23rd. The construction company reported $0.30 EPS for the quarter, topping analysts' consensus estimates of $0.20 by $0.10. Great Lakes Dredge & Dock had a return on equity of 16.46% and a net margin of 8.27%.The firm had revenue of $256.45 million for the quarter, compared to analyst estimates of $216.30 million. Analysts anticipate that Great Lakes Dredge & Dock Corporation will post 0.69 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on GLDD. CJS Securities reissued a "market perform" rating on shares of Great Lakes Dredge & Dock in a research report on Wednesday, March 11th. Noble Financial cut Great Lakes Dredge & Dock from an "outperform" rating to a "market perform" rating in a report on Thursday, February 12th. Wall Street Zen upgraded Great Lakes Dredge & Dock to a "strong-buy" rating in a report on Saturday, April 4th. Zacks Research upgraded Great Lakes Dredge & Dock from a "strong sell" rating to a "hold" rating in a report on Wednesday, March 4th. Finally, JPMorgan Chase & Co. cut Great Lakes Dredge & Dock from a "neutral" rating to an "underweight" rating and set a $17.00 price objective for the company. in a report on Thursday, March 26th. One equities 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $17.00.

Great Lakes Dredge & Dock Company Profile

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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