Great Lakes Dredge & Dock (NASDAQ:GLDD) Now Covered by JPMorgan Chase & Co.

JPMorgan Chase & Co. assumed coverage on shares of Great Lakes Dredge & Dock (NASDAQ:GLDD) in a report issued on Thursday, Marketbeat reports. The firm issued an overweight rating and a $20.00 price target on the construction company’s stock.

Other equities analysts have also recently issued reports about the company. CJS Securities upgraded Great Lakes Dredge & Dock to a “strong-buy” rating in a report on Thursday, December 11th. Zacks Research downgraded Great Lakes Dredge & Dock from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Great Lakes Dredge & Dock in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $20.00.

Great Lakes Dredge & Dock Trading Up 6.4%

Great Lakes Dredge & Dock stock opened at $15.75 on Thursday. Great Lakes Dredge & Dock has a 12-month low of $7.51 and a 12-month high of $16.72. The stock has a market capitalization of $1.07 billion, a PE ratio of 13.35, a price-to-earnings-growth ratio of 1.09 and a beta of 1.40. The firm has a 50 day simple moving average of $13.32 and a 200-day simple moving average of $12.20. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.20 and a quick ratio of 1.06.

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

Insider Buying and Selling

In other Great Lakes Dredge & Dock news, SVP David Johanson sold 10,000 shares of Great Lakes Dredge & Dock stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $13.02, for a total transaction of $130,200.00. Following the sale, the senior vice president owned 94,063 shares in the company, valued at $1,224,700.26. The trade was a 9.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Great Lakes Dredge & Dock

Several large investors have recently made changes to their positions in the company. Millennium Management LLC lifted its holdings in Great Lakes Dredge & Dock by 228.7% during the 3rd quarter. Millennium Management LLC now owns 1,146,135 shares of the construction company’s stock valued at $13,742,000 after purchasing an additional 797,411 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Great Lakes Dredge & Dock by 680.1% in the second quarter. Arrowstreet Capital Limited Partnership now owns 841,140 shares of the construction company’s stock valued at $10,253,000 after acquiring an additional 733,312 shares during the last quarter. Cubist Systematic Strategies LLC raised its stake in shares of Great Lakes Dredge & Dock by 404.0% in the second quarter. Cubist Systematic Strategies LLC now owns 492,191 shares of the construction company’s stock valued at $6,000,000 after acquiring an additional 394,543 shares during the last quarter. Qube Research & Technologies Ltd boosted its holdings in shares of Great Lakes Dredge & Dock by 641.3% in the 3rd quarter. Qube Research & Technologies Ltd now owns 381,365 shares of the construction company’s stock worth $4,573,000 after acquiring an additional 329,922 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in Great Lakes Dredge & Dock in the second quarter worth $2,932,000. Institutional investors own 89.11% of the company’s stock.

Great Lakes Dredge & Dock Company Profile

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.