Great Lakes Dredge & Dock (NASDAQ:GLDD) Upgraded at StockNews.com

Great Lakes Dredge & Dock (NASDAQ:GLDD) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Wednesday.

Great Lakes Dredge & Dock Stock Performance

GLDD stock traded up $0.02 during midday trading on Wednesday, hitting $8.58. 616,963 shares of the stock traded hands, compared to its average volume of 405,081. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.25 and a quick ratio of 1.06. The firm has a market cap of $574.94 million, a P/E ratio of 15.05, a PEG ratio of 0.36 and a beta of 1.14. Great Lakes Dredge & Dock has a 1-year low of $6.11 and a 1-year high of $9.93. The stock’s fifty day simple moving average is $8.92 and its 200-day simple moving average is $8.56.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last posted its quarterly earnings data on Tuesday, August 6th. The construction company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.08. The business had revenue of $170.09 million for the quarter, compared to the consensus estimate of $165.00 million. Great Lakes Dredge & Dock had a net margin of 6.05% and a return on equity of 8.83%. During the same period last year, the firm posted $0.03 earnings per share. On average, analysts expect that Great Lakes Dredge & Dock will post 0.72 earnings per share for the current year.

Hedge Funds Weigh In On Great Lakes Dredge & Dock

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Great Lakes Dredge & Dock by 4.1% in the third quarter. Vanguard Group Inc. now owns 3,283,730 shares of the construction company’s stock worth $26,171,000 after buying an additional 130,571 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of Great Lakes Dredge & Dock by 27.6% in the fourth quarter. SG Americas Securities LLC now owns 36,761 shares of the construction company’s stock worth $282,000 after buying an additional 7,949 shares in the last quarter. Canton Hathaway LLC lifted its stake in shares of Great Lakes Dredge & Dock by 28.9% in the fourth quarter. Canton Hathaway LLC now owns 40,100 shares of the construction company’s stock worth $308,000 after buying an additional 9,000 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Great Lakes Dredge & Dock by 23.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,955 shares of the construction company’s stock worth $123,000 after buying an additional 3,011 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC lifted its stake in shares of Great Lakes Dredge & Dock by 94.6% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 502,882 shares of the construction company’s stock worth $3,862,000 after buying an additional 244,417 shares in the last quarter. 89.11% of the stock is owned by hedge funds and other institutional investors.

About Great Lakes Dredge & Dock

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.