Great Lakes Dredge & Dock (NASDAQ:GLDD) Stock Rating Lowered by BidaskClub

Share on StockTwits

BidaskClub downgraded shares of Great Lakes Dredge & Dock (NASDAQ:GLDD) from a sell rating to a strong sell rating in a report published on Saturday, BidAskClub reports.

A number of other equities research analysts have also weighed in on the company. Zacks Investment Research lowered Great Lakes Dredge & Dock from a strong-buy rating to a hold rating in a research report on Wednesday, July 8th. Noble Financial restated a buy rating and set a $13.80 price objective on shares of Great Lakes Dredge & Dock in a research report on Wednesday, May 6th. Finally, ValuEngine lowered Great Lakes Dredge & Dock from a sell rating to a strong sell rating in a research report on Wednesday, April 1st.

Shares of GLDD stock opened at $8.31 on Friday. The firm has a market capitalization of $543.96 million, a P/E ratio of 8.15 and a beta of 0.76. Great Lakes Dredge & Dock has a twelve month low of $6.75 and a twelve month high of $11.96. The company has a quick ratio of 1.48, a current ratio of 1.62 and a debt-to-equity ratio of 1.25. The stock’s fifty day simple moving average is $9.13 and its 200 day simple moving average is $9.38.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last issued its quarterly earnings data on Tuesday, May 5th. The construction company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.30. The business had revenue of $217.70 million for the quarter. Great Lakes Dredge & Dock had a return on equity of 25.15% and a net margin of 8.98%. As a group, equities research analysts expect that Great Lakes Dredge & Dock will post 1.06 EPS for the current fiscal year.

In other Great Lakes Dredge & Dock news, Director Ryan Levenson sold 8,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $7.87, for a total value of $62,960.00. Following the sale, the director now owns 35,816 shares in the company, valued at approximately $281,871.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO David E. Simonelli sold 20,611 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $9.54, for a total value of $196,628.94. Following the completion of the sale, the chief operating officer now owns 414,620 shares in the company, valued at approximately $3,955,474.80. The disclosure for this sale can be found here. Insiders sold a total of 122,969 shares of company stock worth $1,123,906 in the last quarter. Corporate insiders own 2.85% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of Great Lakes Dredge & Dock by 3.6% during the 1st quarter. BlackRock Inc. now owns 4,676,639 shares of the construction company’s stock valued at $38,816,000 after purchasing an additional 160,969 shares in the last quarter. Jennison Associates LLC boosted its position in shares of Great Lakes Dredge & Dock by 3.3% during the 1st quarter. Jennison Associates LLC now owns 4,186,030 shares of the construction company’s stock valued at $34,744,000 after purchasing an additional 135,240 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Great Lakes Dredge & Dock by 105.7% during the 1st quarter. Russell Investments Group Ltd. now owns 4,151,738 shares of the construction company’s stock valued at $34,437,000 after purchasing an additional 2,133,585 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Great Lakes Dredge & Dock by 9.1% during the 4th quarter. Renaissance Technologies LLC now owns 2,209,101 shares of the construction company’s stock valued at $25,029,000 after purchasing an additional 183,800 shares in the last quarter. Finally, Ashford Capital Management Inc. boosted its position in shares of Great Lakes Dredge & Dock by 3.2% during the 1st quarter. Ashford Capital Management Inc. now owns 1,538,800 shares of the construction company’s stock valued at $12,772,000 after purchasing an additional 48,400 shares in the last quarter. Institutional investors own 88.65% of the company’s stock.

About Great Lakes Dredge & Dock

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.

Featured Article: Strangles

Receive News & Ratings for Great Lakes Dredge & Dock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Great Lakes Dredge & Dock and related companies with MarketBeat.com's FREE daily email newsletter.