Great Lakes Dredge & Dock's (GLDD) "Hold (C+)" Rating Reiterated at Weiss Ratings

Key Points

• Great Lakes Dredge & Dock's stock has been reaffirmed with a "hold (C+)" rating by Weiss Ratings while Zacks Research has upgraded it to a "strong-buy." This reflects mixed investor sentiment towards the stock.
• The company reported earnings of $0.14 per share, surpassing estimates, with a revenue of $193.76 million for the quarter compared to a consensus of $177.70 million.
• Institutional investors have increased their stakes in Great Lakes Dredge & Dock, with 89.11% of the stock now held by hedge funds and other large investors, indicating growing interest in the company.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report)'s stock had its "hold (c+)" rating reaffirmed by equities researchers at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Separately, Zacks Research raised shares of 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 assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Buy".

Great Lakes Dredge & Dock Price Performance

Great Lakes Dredge & Dock stock opened at $11.88 on Wednesday. The company's 50 day simple moving average is $11.72 and its 200-day simple moving average is $10.92. The company has a market capitalization of $807.78 million, a price-to-earnings ratio of 11.31, a price-to-earnings-growth ratio of 0.96 and a beta of 1.37. Great Lakes Dredge & Dock has a 1 year low of $7.51 and a 1 year high of $12.89. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.02 and a current ratio of 1.15.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last announced its earnings results on Tuesday, August 5th. The construction company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.06. Great Lakes Dredge & Dock had a net margin of 8.63% and a return on equity of 15.61%. The firm had revenue of $193.76 million for the quarter, compared to the consensus estimate of $177.70 million. As a group, equities research analysts expect that Great Lakes Dredge & Dock will post 0.69 earnings per share for the current year.

Institutional Investors Weigh In On Great Lakes Dredge & Dock

Large investors have recently modified their holdings of the company. Victory Capital Management Inc. increased its position in shares of Great Lakes Dredge & Dock by 19.6% in the 1st quarter. Victory Capital Management Inc. now owns 116,000 shares of the construction company's stock valued at $1,009,000 after purchasing an additional 19,000 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Great Lakes Dredge & Dock by 800.5% in the 1st quarter. GAMMA Investing LLC now owns 16,965 shares of the construction company's stock valued at $148,000 after purchasing an additional 15,081 shares during the last quarter. Minerva Advisors LLC increased its position in shares of Great Lakes Dredge & Dock by 3.6% in the 1st quarter. Minerva Advisors LLC now owns 1,389,807 shares of the construction company's stock valued at $12,091,000 after purchasing an additional 48,000 shares during the last quarter. Mirabaud & Cie SA purchased a new stake in shares of Great Lakes Dredge & Dock in the 1st quarter valued at approximately $209,000. Finally, Nuveen LLC acquired a new position in shares of Great Lakes Dredge & Dock in the 1st quarter valued at $3,960,000. 89.11% of the stock is owned by hedge funds and other institutional investors.

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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