Great Lakes Dredge & Dock (NASDAQ:GLDD) Reaches New 12-Month High – What’s Next?

Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) shares hit a new 52-week high on Wednesday . The stock traded as high as $11.39 and last traded at $11.38, with a volume of 142240 shares traded. The stock had previously closed at $10.72.

Wall Street Analyst Weigh In

GLDD has been the topic of a number of analyst reports. Noble Financial raised their target price on Great Lakes Dredge & Dock from $11.00 to $14.00 and gave the company an “outperform” rating in a research report on Monday, September 23rd. StockNews.com cut Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research report on Thursday, August 15th.

Great Lakes Dredge & Dock Price Performance

The company has a current ratio of 1.32, a quick ratio of 1.13 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $755.19 million, a price-to-earnings ratio of 19.77, a PEG ratio of 0.38 and a beta of 1.15. The stock has a 50-day moving average price of $9.56 and a 200 day moving average price of $8.93.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last posted its earnings results on Tuesday, August 6th. The construction company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.08. Great Lakes Dredge & Dock had a return on equity of 10.05% and a net margin of 6.61%. The firm had revenue of $170.09 million for the quarter, compared to analysts’ expectations of $165.00 million. During the same period last year, the firm earned $0.03 EPS. As a group, equities research analysts expect that Great Lakes Dredge & Dock Co. will post 0.8 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Lasse Petterson sold 53,771 shares of Great Lakes Dredge & Dock stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $9.06, for a total value of $487,165.26. Following the sale, the chief executive officer now directly owns 987,758 shares in the company, valued at approximately $8,949,087.48. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders have sold 128,990 shares of company stock worth $1,174,747. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Great Lakes Dredge & Dock

Several institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in Great Lakes Dredge & Dock in the 3rd quarter worth approximately $1,157,000. Sanctuary Advisors LLC purchased a new position in Great Lakes Dredge & Dock in the 2nd quarter worth approximately $2,057,000. Quarry LP lifted its stake in Great Lakes Dredge & Dock by 68.5% in the 2nd quarter. Quarry LP now owns 3,097 shares of the construction company’s stock worth $27,000 after purchasing an additional 1,259 shares in the last quarter. Creative Planning lifted its stake in Great Lakes Dredge & Dock by 8.2% in the 2nd quarter. Creative Planning now owns 38,688 shares of the construction company’s stock worth $340,000 after purchasing an additional 2,919 shares in the last quarter. Finally, Algert Global LLC purchased a new position in Great Lakes Dredge & Dock in the 2nd quarter worth approximately $2,192,000. 89.11% of the stock is currently owned by institutional investors and hedge funds.

Great Lakes Dredge & Dock Company Profile

Great Lakes Dredge & Dock Corporation provides dredging services in the United States. The company engages 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.