Great Lakes Dredge & Dock (NASDAQ:GLDD) PT Raised to $14.00

Great Lakes Dredge & Dock (NASDAQ:GLDD) had its price target hoisted by investment analysts at Noble Financial from $11.00 to $14.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the construction company’s stock. Noble Financial’s price objective would indicate a potential upside of 29.75% from the company’s current price.

Separately, StockNews.com lowered Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research report on Thursday, August 15th.

Great Lakes Dredge & Dock Stock Up 0.8 %

Shares of Great Lakes Dredge & Dock stock opened at $10.79 on Monday. The business’s 50 day simple moving average is $9.37 and its 200 day simple moving average is $8.83. Great Lakes Dredge & Dock has a 52-week low of $6.11 and a 52-week high of $10.93. The firm has a market cap of $723.03 million, a PE ratio of 18.93, a P/E/G ratio of 0.34 and a beta of 1.15. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.13 and a current ratio of 1.32.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last announced its earnings results on Tuesday, August 6th. The construction company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.08. Great Lakes Dredge & Dock had a return on equity of 10.05% and a net margin of 6.61%. The business had revenue of $170.09 million for the quarter, compared to analyst estimates of $165.00 million. During the same quarter last year, the firm earned $0.03 EPS. On average, analysts predict that Great Lakes Dredge & Dock will post 0.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Great Lakes Dredge & Dock news, CEO Lasse Petterson sold 28,709 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $9.24, for a total transaction of $265,271.16. Following the transaction, the chief executive officer now owns 902,392 shares of the company’s stock, valued at approximately $8,338,102.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 128,990 shares of company stock valued at $1,174,747 in the last 90 days. 2.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GLDD. Algert Global LLC bought a new position in shares of Great Lakes Dredge & Dock during the 2nd quarter worth approximately $2,192,000. Sanctuary Advisors LLC bought a new position in shares of Great Lakes Dredge & Dock during the 2nd quarter worth approximately $2,057,000. Marshall Wace LLP bought a new position in shares of Great Lakes Dredge & Dock during the 2nd quarter worth approximately $1,823,000. GSA Capital Partners LLP bought a new position in shares of Great Lakes Dredge & Dock during the 1st quarter worth approximately $1,701,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Great Lakes Dredge & Dock by 4.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,356,468 shares of the construction company’s stock worth $33,458,000 after acquiring an additional 192,053 shares during the period. 89.11% of the stock is currently owned by institutional investors.

Great Lakes Dredge & Dock Company Profile

Great Lakes Dredge & Dock Corporation provides dredging services in the United States. The company engages in capital dredging that consists of port expansion projects; coastal restoration and land reclamations; trench digging for pipelines, tunnels, and cables; and other dredging related to the construction of breakwaters, jetties, canals, and other marine structures.