Vanguard Group Inc. Boosts Stock Position in Great Lakes Dredge & Dock Corporation $GLDD

Key Points

• Vanguard Group Inc. increased its stake in Great Lakes Dredge & Dock Corporation by 0.8%, now owning approximately 5.80% of the company, valued at $33.99 million.
• Great Lakes Dredge & Dock reported a $0.14 EPS for the last quarter, surpassing the consensus estimate of $0.08, with revenue of $193.76 million against an expected $177.70 million.
• Several analysts have upgraded Great Lakes Dredge & Dock to a "buy" or "strong-buy" rating, with a consensus target price of $14.00.

Vanguard Group Inc. boosted its holdings in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD - Free Report) by 0.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,907,174 shares of the construction company's stock after purchasing an additional 29,586 shares during the period. Vanguard Group Inc. owned about 5.80% of Great Lakes Dredge & Dock worth $33,992,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. boosted its position in Great Lakes Dredge & Dock by 19.6% in the first quarter. Victory Capital Management Inc. now owns 116,000 shares of the construction company's stock worth $1,009,000 after purchasing an additional 19,000 shares during the last quarter. GAMMA Investing LLC boosted its position in Great Lakes Dredge & Dock by 800.5% in the first quarter. GAMMA Investing LLC now owns 16,965 shares of the construction company's stock worth $148,000 after purchasing an additional 15,081 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Great Lakes Dredge & Dock by 14.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 243,724 shares of the construction company's stock worth $2,752,000 after purchasing an additional 30,394 shares during the last quarter. Minerva Advisors LLC boosted its position in Great Lakes Dredge & Dock by 3.6% in the first quarter. Minerva Advisors LLC now owns 1,389,807 shares of the construction company's stock worth $12,091,000 after purchasing an additional 48,000 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Great Lakes Dredge & Dock in the fourth quarter worth $2,322,000. Hedge funds and other institutional investors own 89.11% of the company's stock.

Insider Activity

In related news, Director Ronald Steger sold 5,000 shares of the business's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $11.59, for a total transaction of $57,950.00. Following the sale, the director directly owned 20,404 shares in the company, valued at approximately $236,482.36. The trade was a 19.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.20% of the company's stock.

Great Lakes Dredge & Dock Stock Performance

Shares of GLDD traded down $0.28 during mid-day trading on Friday, hitting $11.66. The stock had a trading volume of 278,612 shares, compared to its average volume of 433,326. The firm has a market cap of $792.88 million, a P/E ratio of 11.10, a PEG ratio of 0.96 and a beta of 1.35. The business has a fifty day moving average price of $11.51 and a 200-day moving average price of $10.31. 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 Corporation has a 52 week low of $7.51 and a 52 week high of $12.89.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last issued its earnings results 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. 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 analyst estimates of $177.70 million. On average, equities research analysts expect that Great Lakes Dredge & Dock Corporation will post 0.69 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Wall Street Zen raised Great Lakes Dredge & Dock from a "hold" rating to a "buy" rating in a research report on Monday, May 19th. Zacks Research upgraded Great Lakes Dredge & Dock to a "strong-buy" rating in a research note on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Strong Buy" and an average target price 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.