Great Lakes Dredge & Dock (NASDAQ:GLDD) Price Target Increased to $14.00 by Analysts at Noble Financial

by · The Markets Daily

Great Lakes Dredge & Dock (NASDAQ:GLDD – Free Report) had its price objective lifted by Noble Financial from $11.00 to $14.00 in a research report released on Monday, Benzinga reports. They currently have an outperform rating on the construction company’s stock.

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

View Our Latest Analysis on Great Lakes Dredge & Dock

Great Lakes Dredge & Dock Trading Up 0.9 %

GLDD opened at $10.58 on Monday. The stock has a market capitalization of $708.96 million, a P/E ratio of 18.56, a P/E/G ratio of 0.38 and a beta of 1.15. The company has a current ratio of 1.32, a quick ratio of 1.13 and a debt-to-equity ratio of 0.98. Great Lakes Dredge & Dock has a 12 month low of $6.11 and a 12 month high of $10.93. The firm’s fifty day simple moving average is $9.42 and its 200 day simple moving average is $8.86.

Great Lakes Dredge & Dock (NASDAQ:GLDD – Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.08. Great Lakes Dredge & Dock had a net margin of 6.61% and a return on equity of 10.05%. The company had revenue of $170.09 million during the quarter, compared to analysts’ expectations of $165.00 million. During the same period last year, the business earned $0.03 EPS. As a group, research analysts anticipate that Great Lakes Dredge & Dock will post 0.8 EPS for the current fiscal year.

Insider Buying and Selling at Great Lakes Dredge & Dock

In other news, CEO Lasse Petterson sold 46,510 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $9.08, for a total value of $422,310.80. Following the transaction, the chief executive officer now directly owns 931,101 shares of the company’s stock, valued at $8,454,397.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 128,990 shares of company stock valued at $1,174,747 in the last quarter. 2.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Jennison Associates LLC boosted its holdings in shares of Great Lakes Dredge & Dock by 1.4% during the first quarter. Jennison Associates LLC now owns 4,359,725 shares of the construction company’s stock worth $38,148,000 after acquiring an additional 60,307 shares during the period. Dimensional Fund Advisors LP grew its holdings in Great Lakes Dredge & Dock by 4.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,356,468 shares of the construction company’s stock valued at $33,458,000 after buying an additional 192,053 shares in the last quarter. Vanguard Group Inc. increased its position in Great Lakes Dredge & Dock by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 3,413,673 shares of the construction company’s stock worth $29,870,000 after buying an additional 48,760 shares during the period. TCW Group Inc. lifted its holdings in shares of Great Lakes Dredge & Dock by 2.0% during the second quarter. TCW Group Inc. now owns 1,996,138 shares of the construction company’s stock worth $17,526,000 after buying an additional 38,200 shares in the last quarter. Finally, Private Management Group Inc. boosted its position in shares of Great Lakes Dredge & Dock by 2.9% in the second quarter. Private Management Group Inc. now owns 1,253,165 shares of the construction company’s stock valued at $11,003,000 after acquiring an additional 35,077 shares during the period. Institutional investors and hedge funds own 89.11% of the company’s stock.

About Great Lakes Dredge & Dock

(Get Free Report)

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.

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