Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) Given Average Rating of “Moderate Buy” by Analysts

Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) has been given an average rating of “Moderate Buy” by the six research firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $20.00.

A number of analysts recently weighed in on GLDD shares. CJS Securities upgraded Great Lakes Dredge & Dock to a “strong-buy” rating in a report on Thursday, December 11th. Noble Financial downgraded Great Lakes Dredge & Dock from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 12th. JPMorgan Chase & Co. started coverage on Great Lakes Dredge & Dock in a research note on Thursday, January 22nd. They issued an “overweight” rating and a $20.00 price objective on the stock. Wall Street Zen downgraded shares of Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research report on Saturday, January 24th. Finally, Weiss Ratings upgraded shares of Great Lakes Dredge & Dock from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, January 21st.

Insider Transactions at Great Lakes Dredge & Dock

In other Great Lakes Dredge & Dock news, SVP David Johanson sold 10,000 shares of the company’s 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 of the company’s stock, valued at approximately $1,224,700.26. This represents a 9.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Great Lakes Dredge & Dock

Several large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its stake in Great Lakes Dredge & Dock by 9.9% in the first quarter. Royal Bank of Canada now owns 35,035 shares of the construction company’s stock valued at $305,000 after buying an additional 3,169 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in shares of Great Lakes Dredge & Dock during the 1st quarter valued at $304,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Great Lakes Dredge & Dock by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,190 shares of the construction company’s stock valued at $341,000 after acquiring an additional 1,653 shares during the period. Empowered Funds LLC bought a new position in Great Lakes Dredge & Dock during the first quarter worth $1,726,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Great Lakes Dredge & Dock by 1.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 246,766 shares of the construction company’s stock worth $2,147,000 after purchasing an additional 3,042 shares during the period. Institutional investors and hedge funds own 89.11% of the company’s stock.

Great Lakes Dredge & Dock Stock Performance

Shares of GLDD stock opened at $16.89 on Monday. The business’s 50-day moving average price is $14.67 and its 200-day moving average price is $12.91. Great Lakes Dredge & Dock has a 12 month low of $7.51 and a 12 month high of $16.99. 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 has a market capitalization of $1.15 billion, a price-to-earnings ratio of 14.31, a PEG ratio of 1.28 and a beta of 1.42.

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.