Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) Receives Average Rating of "Hold" from Brokerages

Key Points

• Analysts give Great Lakes Dredge & Dock a consensus "Hold" rating from six firms (1 sell, 4 hold, 1 buy) with an average 12‑month price target of $17.00.
• The company recently beat estimates, reporting EPS $0.30 vs. $0.20 expected and revenue of $256.45 million, and the stock trades near its 52‑week high ($7.51–$17.02) with a market cap of $1.14 billion and a P/E of 15.89.
• Institutional ownership is high at 89.11%, with several funds (including Empowered Funds, NewEdge and Zacks Investment Management) increasing their stakes in the latest quarter.

Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD - Get Free Report) has earned a consensus recommendation of "Hold" from the six research firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $17.00.

Several analysts recently weighed in on GLDD shares. Noble Financial cut Great Lakes Dredge & Dock from an "outperform" rating to a "market perform" rating in a report on Thursday, February 12th. Texas Capital cut Great Lakes Dredge & Dock from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 11th. Weiss Ratings raised Great Lakes Dredge & Dock from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, January 21st. Zacks Research raised shares of Great Lakes Dredge & Dock from a "strong sell" rating to a "hold" rating in a research report on Wednesday, March 4th. Finally, JPMorgan Chase & Co. downgraded shares of Great Lakes Dredge & Dock from a "neutral" rating to an "underweight" rating and set a $17.00 price target on the stock. in a research note on Thursday, March 26th.

Great Lakes Dredge & Dock Price Performance

Great Lakes Dredge & Dock stock opened at $17.00 on Tuesday. The stock has a market cap 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. The company has a quick ratio of 0.88, a current ratio of 1.01 and a debt-to-equity ratio of 0.73. Great Lakes Dredge & Dock has a twelve month low of $7.51 and a twelve month high of $17.02. The company's 50-day moving average price is $16.78 and its two-hundred day moving average price is $14.23.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last issued its quarterly earnings data on Monday, February 23rd. The construction company reported $0.30 earnings per share (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 company had revenue of $256.45 million during the quarter, compared to analysts' expectations of $216.30 million. As a group, analysts expect that Great Lakes Dredge & Dock will post 0.69 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. State of Tennessee Department of Treasury acquired a new stake in shares of Great Lakes Dredge & Dock in the fourth quarter valued at approximately $177,000. NewEdge Advisors LLC increased its stake in Great Lakes Dredge & Dock by 4,730.2% during the 4th quarter. NewEdge Advisors LLC now owns 20,287 shares of the construction company's stock worth $266,000 after acquiring an additional 19,867 shares during the period. Empowered Funds LLC raised its holdings in Great Lakes Dredge & Dock by 26.9% in the 4th quarter. Empowered Funds LLC now owns 312,266 shares of the construction company's stock valued at $4,097,000 after acquiring an additional 66,178 shares in the last quarter. XTX Topco Ltd raised its holdings in Great Lakes Dredge & Dock by 51.0% in the 4th quarter. XTX Topco Ltd now owns 16,654 shares of the construction company's stock valued at $218,000 after acquiring an additional 5,627 shares in the last quarter. Finally, Zacks Investment Management lifted its position in shares of Great Lakes Dredge & Dock by 30.0% during the 4th quarter. Zacks Investment Management now owns 152,586 shares of the construction company's stock valued at $2,002,000 after acquiring an additional 35,234 shares during the period. Institutional investors and hedge funds own 89.11% of the company's stock.

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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