BidaskClub downgraded shares of Great Lakes Dredge & Dock (NASDAQ:GLDD) from a buy rating to a hold rating in a report issued on Thursday morning, BidAskClub reports.

Other research analysts have also recently issued reports about the company. Noble Financial set a $14.00 price target on Great Lakes Dredge & Dock and gave the company a buy rating in a report on Wednesday, August 21st. ValuEngine cut Great Lakes Dredge & Dock from a buy rating to a hold rating in a report on Tuesday. Finally, Zacks Investment Research raised Great Lakes Dredge & Dock from a hold rating to a strong-buy rating and set a $12.00 price target for the company in a report on Friday, August 2nd.

GLDD traded up $0.19 during trading on Thursday, reaching $10.18. 503,758 shares of the company’s stock were exchanged, compared to its average volume of 543,675. Great Lakes Dredge & Dock has a fifty-two week low of $5.37 and a fifty-two week high of $11.81. The company has a quick ratio of 1.18, a current ratio of 1.31 and a debt-to-equity ratio of 1.50. The business has a 50 day moving average price of $10.54 and a 200 day moving average price of $10.17. The company has a market capitalization of $637.66 million, a P/E ratio of 28.28 and a beta of 0.60.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last issued its earnings results on Wednesday, July 31st. The construction company reported $0.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.06. Great Lakes Dredge & Dock had a net margin of 3.90% and a return on equity of 22.64%. The company had revenue of $184.81 million for the quarter, compared to the consensus estimate of $181.65 million. During the same quarter in the previous year, the company earned $0.02 EPS. The firm’s revenue for the quarter was up 36.6% compared to the same quarter last year. As a group, research analysts forecast that Great Lakes Dredge & Dock will post 0.74 EPS for the current year.

In other news, Director Ryan Levenson sold 21,905 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $10.14, for a total transaction of $222,116.70. Following the completion of the transaction, the director now directly owns 35,816 shares in the company, valued at approximately $363,174.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider David E. Simonelli sold 3,809 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $10.90, for a total value of $41,518.10. Following the transaction, the insider now owns 322,048 shares of the company’s stock, valued at $3,510,323.20. The disclosure for this sale can be found here. Insiders have sold a total of 26,878 shares of company stock valued at $276,171 over the last three months. Company insiders own 4.66% of the company’s stock.

Several institutional investors have recently bought and sold shares of GLDD. JPMorgan Chase & Co. grew its position in shares of Great Lakes Dredge & Dock by 218.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,536,984 shares of the construction company’s stock worth $16,661,000 after buying an additional 1,053,659 shares during the period. Nuveen Asset Management LLC acquired a new position in shares of Great Lakes Dredge & Dock during the 2nd quarter worth about $11,047,000. ClariVest Asset Management LLC grew its position in shares of Great Lakes Dredge & Dock by 7,589.5% during the 1st quarter. ClariVest Asset Management LLC now owns 963,722 shares of the construction company’s stock worth $8,587,000 after buying an additional 951,189 shares during the period. Renaissance Technologies LLC grew its position in shares of Great Lakes Dredge & Dock by 93.6% during the 2nd quarter. Renaissance Technologies LLC now owns 1,302,200 shares of the construction company’s stock worth $14,376,000 after buying an additional 629,700 shares during the period. Finally, Acadian Asset Management LLC grew its position in shares of Great Lakes Dredge & Dock by 150.9% during the 2nd quarter. Acadian Asset Management LLC now owns 667,701 shares of the construction company’s stock worth $7,371,000 after buying an additional 401,580 shares during the period. Institutional investors own 85.76% of the company’s stock.

Great Lakes Dredge & Dock Company Profile

Great Lakes Dredge & Dock Corporation provides dredging services in the United States and internationally. The company is involved in capital dredging that consists of port expansion projects, coastal restoration and land reclamations, trench digging for pipelines, tunnels and cables, and other dredging related to the construction of breakwaters, jetties, canals, and other marine structures.

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