Allspring Global Investments Holdings LLC Sells 63,271 Shares of Great Lakes Dredge & Dock Corporation $GLDD

Allspring Global Investments Holdings LLC decreased its holdings in shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) by 12.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 430,762 shares of the construction company’s stock after selling 63,271 shares during the period. Allspring Global Investments Holdings LLC owned 0.63% of Great Lakes Dredge & Dock worth $5,712,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Royal Bank of Canada grew its holdings in shares of Great Lakes Dredge & Dock by 9.9% during the 1st quarter. Royal Bank of Canada now owns 35,035 shares of the construction company’s stock worth $305,000 after acquiring an additional 3,169 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in shares of Great Lakes Dredge & Dock during the 1st quarter worth approximately $304,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings 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 worth $341,000 after acquiring an additional 1,653 shares during the period. Empowered Funds LLC purchased a new position in shares of Great Lakes Dredge & Dock during the 1st quarter worth approximately $1,726,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Great Lakes Dredge & Dock by 1.2% during the 1st 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 acquiring an additional 3,042 shares during the period. Institutional investors own 89.11% of the company’s stock.

Great Lakes Dredge & Dock Stock Performance

Great Lakes Dredge & Dock stock opened at $17.00 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 1.01 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $1.14 billion, a P/E ratio of 15.89, a PEG ratio of 1.26 and a beta of 1.38. The stock’s 50 day moving average is $16.59 and its 200 day moving average is $14.05. Great Lakes Dredge & Dock Corporation has a twelve month low of $7.51 and a twelve month high of $17.02.

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

Wall Street Analysts Forecast Growth

GLDD has been the topic of a number of research analyst reports. CJS Securities reiterated a “market perform” rating on shares of Great Lakes Dredge & Dock in a report on Wednesday, March 11th. Zacks Research upgraded Great Lakes Dredge & Dock from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Texas Capital downgraded Great Lakes Dredge & Dock from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 11th. Wall Street Zen upgraded Great Lakes Dredge & Dock to a “strong-buy” rating in a report on Saturday. Finally, Noble Financial downgraded Great Lakes Dredge & Dock from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 12th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $17.00.

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.