Great Lakes Dredge & Dock (NASDAQ:GLDD) Cut to “Hold” at Texas Capital

Texas Capital lowered shares of Great Lakes Dredge & Dock (NASDAQ:GLDD) from a strong-buy rating to a hold rating in a research note issued to investors on Wednesday morning,Zacks.com reports.

Several other analysts have also recently commented on the stock. Noble Financial cut shares of Great Lakes Dredge & Dock from an “outperform” rating to a “market perform” rating in a research report on Thursday. CJS Securities raised Great Lakes Dredge & Dock to a “strong-buy” rating in a research note on Thursday, December 11th. Zacks Research downgraded Great Lakes Dredge & Dock from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 3rd. Wall Street Zen cut Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a report on Saturday, January 24th. Finally, JPMorgan Chase & Co. started coverage on Great Lakes Dredge & Dock in a research report on Thursday, January 22nd. They set an “overweight” rating and a $20.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Great Lakes Dredge & Dock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

Great Lakes Dredge & Dock Trading Down 0.4%

Shares of GLDD opened at $16.89 on Wednesday. The company has a quick ratio of 1.06, a current ratio of 1.20 and a debt-to-equity ratio of 0.83. Great Lakes Dredge & Dock has a 12-month low of $7.51 and a 12-month high of $16.99. The firm has a market capitalization of $1.15 billion, a PE ratio of 14.31, a price-to-earnings-growth ratio of 1.28 and a beta of 1.42. The stock’s fifty day simple moving average is $14.35 and its 200-day simple moving average is $12.69.

Insider Buying and Selling

In other Great Lakes Dredge & Dock news, SVP David Johanson sold 2,100 shares of Great Lakes Dredge & Dock stock in a transaction dated 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 directly owned 91,963 shares in the company, valued at approximately $1,283,803.48. The trade was a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Great Lakes Dredge & Dock

A number of hedge funds have recently modified their holdings of GLDD. Millennium Management LLC grew its position in shares of Great Lakes Dredge & Dock by 228.7% in 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 period. Arrowstreet Capital Limited Partnership raised its holdings in Great Lakes Dredge & Dock by 680.1% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 841,140 shares of the construction company’s stock worth $10,253,000 after buying an additional 733,312 shares during the period. Cubist Systematic Strategies LLC lifted its stake in 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 buying an additional 394,543 shares in the last quarter. Simcoe Capital LLC acquired a new position in shares of Great Lakes Dredge & Dock in the fourth quarter valued at approximately $4,955,000. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Great Lakes Dredge & Dock by 120.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 634,720 shares of the construction company’s stock valued at $8,328,000 after buying an additional 347,334 shares during the period. Institutional investors and hedge funds own 89.11% of the company’s stock.

Trending Headlines about Great Lakes Dredge & Dock

Here are the key news stories impacting Great Lakes Dredge & Dock this week:

• Positive Sentiment: Saltchuk agreed to acquire GLDD in an all-cash transaction (reported value around $1.2–$1.5B). The deal explains the recent sharp upward move as buyers price in the acquisition premium and certainty of a cash sale. Read More.
• Neutral Sentiment: Unusually large options trading was detected ahead of and around the deal announcement, signaling elevated speculative or hedge activity that can amplify intraday volatility. Read More.
• Neutral Sentiment: Analysts and commentators note GLDD’s strong backlog and elevated dredging demand ahead of Q4 earnings, but potential margin pressure from dry-docking costs could temper organic upside if investors refocus on fundamentals. Read More.
• Neutral Sentiment: Short-interest reports in recent filings contain inconsistent data (reports show 0 shares and NaN changes), so short-position signals are unclear; treat short-interest metrics with caution until corrected filings are available.
• Negative Sentiment: A shareholder rights firm launched an investigation into whether the board breached fiduciary duties in connection with the proposed sale, creating potential legal/transaction risk and a drag on sentiment until the matter is resolved. Read More.
• Negative Sentiment: Two brokerages downgraded GLDD (Texas Capital: strong-buy → hold; Noble Financial: outperform → market perform), which can weigh on near-term momentum and reduce buy-side conviction despite the takeover. Read More. • Read More.

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.