Sanctuary Advisors LLC Buys 94,162 Shares of Great Lakes Dredge & Dock Corporation $GLDD

Key Points

• Sanctuary Advisors LLC increased its stake in Great Lakes Dredge & Dock by 40.2%, buying 94,162 shares to hold 328,554 shares (about 0.48% of the company) valued at roughly $4.31 million at quarter-end.
• Overall institutional ownership stands at 89.11%, with other notable moves such as JPMorgan raising its position by 12.6% to 888,739 shares (~$10.66M), signaling strong institutional interest.
• Analysts have a consensus rating of Hold with an average price target of $17.00; shares trade around $17.00 (market cap $1.14B) after the company beat the quarter's EPS and revenue estimates ($0.30 vs $0.20 EPS; $256.45M revenue vs $216.3M expected).

Sanctuary Advisors LLC grew its stake in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD - Free Report) by 40.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 328,554 shares of the construction company's stock after acquiring an additional 94,162 shares during the period. Sanctuary Advisors LLC owned 0.48% of Great Lakes Dredge & Dock worth $4,311,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of GLDD. HB Wealth Management LLC bought a new stake in shares of Great Lakes Dredge & Dock during the 3rd quarter worth $1,058,000. Alps Advisors Inc. bought a new stake in shares of Great Lakes Dredge & Dock during the 3rd quarter worth $453,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Great Lakes Dredge & Dock during the 3rd quarter worth $696,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Great Lakes Dredge & Dock during the 3rd quarter worth $1,227,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Great Lakes Dredge & Dock by 12.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 888,739 shares of the construction company's stock worth $10,656,000 after buying an additional 99,463 shares during the last quarter. Institutional investors own 89.11% of the company's stock.

Wall Street Analysts Forecast Growth

GLDD has been the subject of several recent analyst reports. Zacks Research upgraded Great Lakes Dredge & Dock from a "strong sell" rating to a "hold" rating in a research report on Wednesday, March 4th. Texas Capital downgraded Great Lakes Dredge & Dock from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 11th. Weiss Ratings upgraded Great Lakes Dredge & Dock from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, January 21st. JPMorgan Chase & Co. downgraded Great Lakes Dredge & Dock from a "neutral" rating to an "underweight" rating and set a $17.00 price objective for the company. in a research report on Thursday, March 26th. Finally, CJS Securities restated a "market perform" rating on shares of Great Lakes Dredge & Dock in a research report on Wednesday, March 11th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Great Lakes Dredge & Dock has a consensus rating of "Hold" and an average price target of $17.00.

Great Lakes Dredge & Dock Stock Performance

Shares of GLDD stock opened at $17.00 on Friday. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 15.89, a PEG ratio of 1.26 and a beta of 1.38. The stock has a 50-day moving average of $16.97 and a 200-day moving average of $14.66. The company has a current ratio of 1.01, a quick ratio of 0.88 and a debt-to-equity ratio of 0.73. Great Lakes Dredge & Dock Corporation has a 1-year low of $8.80 and a 1-year high of $17.02.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last issued its quarterly earnings results on Monday, February 23rd. The construction company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.10. The company had revenue of $256.45 million during the quarter, compared to analysts' expectations of $216.30 million. Great Lakes Dredge & Dock had a return on equity of 16.46% and a net margin of 8.27%. On average, equities research analysts forecast that Great Lakes Dredge & Dock Corporation will post 0.69 earnings per share for the current year.

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.

Want to see what other hedge funds are holding GLDD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.