CJS Securities Reiterates Market Perform Rating for Great Lakes Dredge & Dock (NASDAQ:GLDD)

Great Lakes Dredge & Dock (NASDAQ:GLDD)‘s stock had its “market perform” rating reissued by equities research analysts at CJS Securities in a research report issued to clients and investors on Wednesday,Benzinga reports.

Other research analysts also recently issued reports about the company. Texas Capital downgraded Great Lakes Dredge & Dock from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 11th. Weiss Ratings raised shares of Great Lakes Dredge & Dock from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, January 21st. Zacks Research raised shares of Great Lakes Dredge & Dock from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $17.00 target price on shares of Great Lakes Dredge & Dock in a research report on Wednesday, March 4th. Finally, Wall Street Zen cut shares of Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research report on Saturday, January 24th. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $17.00.

Great Lakes Dredge & Dock Price Performance

Great Lakes Dredge & Dock stock opened at $16.95 on Wednesday. The company has a 50 day moving average of $15.66 and a 200-day moving average of $13.42. The company has a quick ratio of 0.88, a current ratio of 1.01 and a debt-to-equity ratio of 0.73. Great Lakes Dredge & Dock has a twelve month low of $7.51 and a twelve month high of $16.99. The stock has a market capitalization of $1.13 billion, a PE ratio of 15.84, a price-to-earnings-growth ratio of 1.26 and a beta of 1.38.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last posted its quarterly earnings data on Monday, February 23rd. The construction company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.20 by $0.10. The business had revenue of $256.45 million for the quarter, compared to analysts’ expectations of $216.30 million. Great Lakes Dredge & Dock had a net margin of 8.27% and a return on equity of 16.46%. On average, equities research analysts anticipate that Great Lakes Dredge & Dock will post 0.69 EPS for the current fiscal year.

Institutional Trading of Great Lakes Dredge & Dock

A number of large investors have recently added to or reduced their stakes in GLDD. Millennium Management LLC boosted its stake in shares of 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 worth $13,742,000 after acquiring an additional 797,411 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in Great Lakes Dredge & Dock by 680.1% during the second quarter. Arrowstreet Capital Limited Partnership now owns 841,140 shares of the construction company’s stock worth $10,253,000 after purchasing an additional 733,312 shares during the period. Cubist Systematic Strategies LLC increased its holdings 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 purchasing an additional 394,543 shares during the last quarter. Simcoe Capital LLC acquired a new position in shares of Great Lakes Dredge & Dock in the fourth quarter valued at $4,955,000. Finally, Goldman Sachs Group Inc. raised its position 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 purchasing an additional 347,334 shares during the period. Institutional investors and hedge funds own 89.11% of the company’s stock.

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.