Great Lakes Dredge & Dock (NASDAQ:GLDD) Stock Passes Above 200-Day Moving Average - What's Next?

Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD - Get Free Report) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $10.82 and traded as high as $12.00. Great Lakes Dredge & Dock shares last traded at $11.99, with a volume of 435,891 shares traded.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised Great Lakes Dredge & Dock to a "strong-buy" rating in a report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the company presently has an average rating of "Strong Buy".

Great Lakes Dredge & Dock Stock Performance

The firm has a market cap of $815.32 million, a PE ratio of 11.42, a price-to-earnings-growth ratio of 0.98 and a beta of 1.34. The company has a 50 day simple moving average of $11.66 and a 200-day simple moving average of $10.82. 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 (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, topping the consensus estimate of $0.08 by $0.06. The business had revenue of $193.76 million during the quarter, compared to analyst estimates 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 anticipate that Great Lakes Dredge & Dock Corporation will post 0.69 EPS for the current year.

Institutional Trading of Great Lakes Dredge & Dock

Hedge funds and other institutional investors have recently bought and sold shares of the company. Byrne Asset Management LLC purchased a new stake in Great Lakes Dredge & Dock in the first quarter worth approximately $40,000. Federated Hermes Inc. boosted its stake in Great Lakes Dredge & Dock by 43.5% in the second quarter. Federated Hermes Inc. now owns 4,965 shares of the construction company's stock worth $61,000 after buying an additional 1,505 shares in the last quarter. Strs Ohio purchased a new stake in shares of Great Lakes Dredge & Dock during the first quarter valued at approximately $45,000. Quarry LP boosted its stake in shares of Great Lakes Dredge & Dock by 213.7% during the first quarter. Quarry LP now owns 5,503 shares of the construction company's stock valued at $48,000 after purchasing an additional 3,749 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in shares of Great Lakes Dredge & Dock by 5,519.6% during the second quarter. Russell Investments Group Ltd. now owns 9,160 shares of the construction company's stock valued at $112,000 after purchasing an additional 8,997 shares during the period. Hedge funds and other institutional investors own 89.11% of the company's stock.

About Great Lakes Dredge & Dock

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.

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