Invesco Ltd. Decreases Stock Position in Great Lakes Dredge & Dock Corporation $GLDD

Invesco Ltd. lessened its stake in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) by 11.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 161,844 shares of the construction company’s stock after selling 20,747 shares during the quarter. Invesco Ltd. owned about 0.24% of Great Lakes Dredge & Dock worth $1,408,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Byrne Asset Management LLC purchased a new position in Great Lakes Dredge & Dock in the 1st quarter worth approximately $40,000. Lazard Asset Management LLC purchased a new position in Great Lakes Dredge & Dock in the 4th quarter worth approximately $118,000. XTX Topco Ltd purchased a new position in Great Lakes Dredge & Dock in the 1st quarter worth approximately $130,000. GAMMA Investing LLC boosted its holdings in Great Lakes Dredge & Dock by 800.5% in the 1st quarter. GAMMA Investing LLC now owns 16,965 shares of the construction company’s stock worth $148,000 after acquiring an additional 15,081 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Great Lakes Dredge & Dock by 34.9% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,523 shares of the construction company’s stock valued at $187,000 after purchasing an additional 5,568 shares in the last quarter. Hedge funds and other institutional investors own 89.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GLDD. Zacks Research raised Great Lakes Dredge & Dock to a “strong-buy” rating in a research report on Tuesday, August 12th. Wall Street Zen raised Great Lakes Dredge & Dock from a “hold” rating to a “buy” rating in a research report on Monday, May 19th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Strong Buy” and an average target price of $14.00.

Great Lakes Dredge & Dock Price Performance

Shares of GLDD opened at $11.66 on Tuesday. The company has a market cap of $792.88 million, a P/E ratio of 11.10, a PEG ratio of 0.96 and a beta of 1.34. The stock has a fifty day moving average price of $11.50 and a 200 day moving average price of $10.30. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.15 and a quick ratio of 1.02. Great Lakes Dredge & Dock Corporation has a 12 month low of $7.51 and a 12 month high of $12.89.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last issued its quarterly earnings data on Tuesday, August 5th. The construction company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.06. The firm had revenue of $193.76 million during the quarter, compared to the consensus estimate of $177.70 million. Great Lakes Dredge & Dock had a return on equity of 15.61% and a net margin of 8.63%. On average, research analysts forecast that Great Lakes Dredge & Dock Corporation will post 0.69 earnings per share for the current year.

Great Lakes Dredge & Dock Profile

Great Lakes Dredge & Dock Corp. engages in the provision of dredging services. Its projects include channel and port maintenance, channel deepening and port expansion, coastal protection and restoration, as well as land reclamation. The company was founded by William A. Lydon and Frederick C. Drews in 1890 and is headquartered in Houston, TX.