Y Intercept Hong Kong Ltd Takes $1.23 Million Position in Great Lakes Dredge & Dock Corporation $GLDD

Y Intercept Hong Kong Ltd acquired a new stake in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 102,318 shares of the construction company’s stock, valued at approximately $1,227,000. Y Intercept Hong Kong Ltd owned 0.15% of Great Lakes Dredge & Dock at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Strs Ohio bought a new position in Great Lakes Dredge & Dock in the 1st quarter valued at $45,000. State of Alaska Department of Revenue purchased a new stake in shares of Great Lakes Dredge & Dock in the third quarter worth $46,000. Federated Hermes Inc. boosted its stake in Great Lakes Dredge & Dock by 43.5% during the second quarter. Federated Hermes Inc. now owns 4,965 shares of the construction company’s stock valued at $61,000 after buying an additional 1,505 shares during the period. CWM LLC grew its position in Great Lakes Dredge & Dock by 125.0% during the third quarter. CWM LLC now owns 6,995 shares of the construction company’s stock worth $84,000 after buying an additional 3,886 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Great Lakes Dredge & Dock by 5,519.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 9,160 shares of the construction company’s stock worth $112,000 after acquiring an additional 8,997 shares during the last quarter. Hedge funds and other institutional investors own 89.11% of the company’s stock.

Insiders Place Their Bets

In other Great Lakes Dredge & Dock news, SVP David Johanson sold 2,100 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $13.96, for a total transaction of $29,316.00. Following the transaction, the senior vice president owned 91,963 shares in the company, valued at approximately $1,283,803.48. This represents a 2.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.20% of the company’s stock.

Great Lakes Dredge & Dock Price Performance

GLDD stock opened at $14.98 on Friday. Great Lakes Dredge & Dock Corporation has a 12-month low of $7.51 and a 12-month high of $16.72. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 1.11 and a beta of 1.40. The company has a current ratio of 1.20, a quick ratio of 1.06 and a debt-to-equity ratio of 0.83. The firm’s 50-day moving average price is $13.71 and its two-hundred day moving average price is $12.37.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last released its quarterly earnings data on Tuesday, November 4th. The construction company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.09. The business had revenue of $195.21 million during the quarter, compared to analysts’ expectations of $201.30 million. Great Lakes Dredge & Dock had a return on equity of 16.84% and a net margin of 9.65%. As a group, equities analysts predict that Great Lakes Dredge & Dock Corporation will post 0.69 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GLDD. Weiss Ratings upgraded Great Lakes Dredge & Dock from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, January 21st. JPMorgan Chase & Co. began coverage on shares of Great Lakes Dredge & Dock in a research note on Thursday, January 22nd. They issued an “overweight” rating and a $20.00 target price on the stock. Zacks Research cut shares of Great Lakes Dredge & Dock from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Wall Street Zen lowered shares of Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a report on Saturday, January 24th. Finally, CJS Securities upgraded shares of Great Lakes Dredge & Dock to a “strong-buy” rating in a research report on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Great Lakes Dredge & Dock has a consensus rating of “Buy” and a consensus target price of $20.00.

About Great Lakes Dredge & Dock

Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) is a leading provider of dredging and maritime construction services in the United States. The company specializes in the excavation and removal of sediment from waterways, harbors, ports and coastal areas to maintain navigability and support commercial shipping. Its operations encompass both maintenance dredging—removing accumulated material to restore channel depth—and new work projects such as land reclamation and harbor deepening.

In addition to traditional dredging, Great Lakes Dredge & Dock offers a range of complementary marine construction services.