Great Lakes Dredge & Dock (NASDAQ:GLDD) Shares Cross Above 200 Day Moving Average of $8.29

Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.29 and traded as high as $9.00. Great Lakes Dredge & Dock shares last traded at $8.78, with a volume of 945,754 shares.

Analysts Set New Price Targets

Separately, StockNews.com lowered Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a report on Thursday, June 20th.

Great Lakes Dredge & Dock Stock Performance

The firm has a market cap of $588.35 million, a PE ratio of 15.40, a PEG ratio of 0.36 and a beta of 1.14. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.06 and a current ratio of 1.25. The firm’s 50 day moving average price is $8.66 and its two-hundred day moving average price is $8.29.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last issued its quarterly earnings data on Tuesday, May 7th. The construction company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.25. Great Lakes Dredge & Dock had a return on equity of 8.83% and a net margin of 6.05%. The firm had revenue of $198.66 million during the quarter, compared to the consensus estimate of $176.45 million. On average, research analysts forecast that Great Lakes Dredge & Dock Co. will post 0.72 earnings per share for the current year.

Institutional Investors Weigh In On Great Lakes Dredge & Dock

Several institutional investors and hedge funds have recently modified their holdings of GLDD. Charles Schwab Investment Management Inc. raised its stake in shares of Great Lakes Dredge & Dock by 4.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,050,104 shares of the construction company’s stock valued at $8,369,000 after acquiring an additional 48,091 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Great Lakes Dredge & Dock in the third quarter valued at $808,000. Trexquant Investment LP purchased a new stake in Great Lakes Dredge & Dock during the 3rd quarter worth about $468,000. AXQ Capital LP purchased a new stake in Great Lakes Dredge & Dock during the 3rd quarter worth about $92,000. Finally, ELCO Management Co. LLC acquired a new position in shares of Great Lakes Dredge & Dock during the 3rd quarter worth about $159,000. Hedge funds and other institutional investors own 89.11% of the company’s stock.

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.