Vanguard Group Inc. Raises Holdings in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Vanguard Group Inc. increased its holdings in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 4.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 3,283,730 shares of the construction company’s stock after purchasing an additional 130,571 shares during the quarter. Vanguard Group Inc.’s holdings in Great Lakes Dredge & Dock were worth $26,171,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. grew its position in Great Lakes Dredge & Dock by 6.3% in the first quarter. BlackRock Inc. now owns 6,802,165 shares of the construction company’s stock worth $36,936,000 after acquiring an additional 404,671 shares during the period. Alliancebernstein L.P. grew its position in Great Lakes Dredge & Dock by 20.8% in the second quarter. Alliancebernstein L.P. now owns 4,935,510 shares of the construction company’s stock worth $40,274,000 after acquiring an additional 849,506 shares during the period. Jennison Associates LLC grew its position in Great Lakes Dredge & Dock by 21.0% in the third quarter. Jennison Associates LLC now owns 3,932,495 shares of the construction company’s stock worth $31,342,000 after acquiring an additional 681,179 shares during the period. TCW Group Inc. boosted its position in shares of Great Lakes Dredge & Dock by 5.4% during the first quarter. TCW Group Inc. now owns 1,701,238 shares of the construction company’s stock worth $9,238,000 after buying an additional 86,700 shares during the period. Finally, State Street Corp boosted its position in shares of Great Lakes Dredge & Dock by 4.4% during the first quarter. State Street Corp now owns 1,428,524 shares of the construction company’s stock worth $7,757,000 after buying an additional 59,989 shares during the period. 89.11% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. TheStreet upgraded Great Lakes Dredge & Dock from a “d+” rating to a “c-” rating in a research report on Tuesday, February 20th. StockNews.com upgraded Great Lakes Dredge & Dock from a “sell” rating to a “hold” rating in a research report on Thursday, February 15th.

Great Lakes Dredge & Dock Trading Down 1.6 %

GLDD opened at $7.95 on Friday. Great Lakes Dredge & Dock Co. has a 52 week low of $5.26 and a 52 week high of $9.78. The business has a fifty day simple moving average of $8.55 and a 200-day simple moving average of $7.80. The firm has a market cap of $530.58 million, a P/E ratio of 37.86, a P/E/G ratio of 1.41 and a beta of 0.96. The company has a quick ratio of 1.07, a current ratio of 1.26 and a debt-to-equity ratio of 1.07.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last released its quarterly earnings results on Wednesday, February 14th. The construction company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.09 by $0.16. The business had revenue of $181.73 million during the quarter, compared to analyst estimates of $190.05 million. Great Lakes Dredge & Dock had a return on equity of 2.56% and a net margin of 2.36%. On average, equities analysts expect that Great Lakes Dredge & Dock Co. will post 0.57 earnings per share for the current year.

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.