Great Lakes Dredge & Dock (NASDAQ:GLDD) Hits New 52-Week High at $10.13

Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) hit a new 52-week high on Tuesday . The company traded as high as $10.13 and last traded at $9.98, with a volume of 137790 shares. The stock had previously closed at $9.84.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research note on Thursday, August 15th.

Great Lakes Dredge & Dock Stock Performance

The stock’s 50 day moving average price is $8.95 and its 200 day moving average price is $8.71. The company has a current ratio of 1.25, a quick ratio of 1.06 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $666.74 million, a price-to-earnings ratio of 17.46, a P/E/G ratio of 0.36 and a beta of 1.14.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last posted its quarterly earnings data on Tuesday, August 6th. The construction company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.08. Great Lakes Dredge & Dock had a net margin of 6.05% and a return on equity of 8.83%. The company had revenue of $170.09 million during the quarter, compared to the consensus estimate of $165.00 million. During the same period in the prior year, the business posted $0.03 EPS. Analysts expect that Great Lakes Dredge & Dock Co. will post 0.72 earnings per share for the current year.

Insider Transactions at Great Lakes Dredge & Dock

In other news, CEO Lasse Petterson sold 46,510 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $9.08, for a total transaction of $422,310.80. Following the completion of the transaction, the chief executive officer now directly owns 931,101 shares in the company, valued at approximately $8,454,397.08. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders sold a total of 128,990 shares of company stock worth $1,174,747 in the last three months. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Great Lakes Dredge & Dock by 23.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,955 shares of the construction company’s stock valued at $123,000 after purchasing an additional 3,011 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Great Lakes Dredge & Dock by 5.7% during the 4th quarter. Victory Capital Management Inc. now owns 132,800 shares of the construction company’s stock worth $1,020,000 after buying an additional 7,200 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Great Lakes Dredge & Dock by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,090,783 shares of the construction company’s stock valued at $8,377,000 after buying an additional 40,679 shares during the last quarter. Jump Financial LLC raised its holdings in Great Lakes Dredge & Dock by 32.6% in the 4th quarter. Jump Financial LLC now owns 50,566 shares of the construction company’s stock valued at $388,000 after acquiring an additional 12,430 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Great Lakes Dredge & Dock by 4.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,356,468 shares of the construction company’s stock worth $33,458,000 after acquiring an additional 192,053 shares during the last quarter. 89.11% of the stock is currently owned by institutional investors.

About Great Lakes Dredge & Dock

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.