Great Lakes Dredge & Dock (NASDAQ:GLDD) Hits New 1-Year High at $10.73

Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $10.73 and last traded at $10.72, with a volume of 427110 shares traded. The stock had previously closed at $10.32.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of 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 Performance

The business’s fifty day moving average is $9.27 and its two-hundred day moving average is $8.80. The company has a current ratio of 1.32, a quick ratio of 1.13 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $710.30 million, a PE ratio of 18.11, a price-to-earnings-growth ratio of 0.34 and a beta of 1.15.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last announced its quarterly 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 firm had revenue of $170.09 million for the quarter, compared to the consensus estimate of $165.00 million. During the same period in the prior year, the company posted $0.03 earnings per share. Equities research analysts predict that Great Lakes Dredge & Dock Co. will post 0.8 earnings per share for the current year.

Insider Transactions at Great Lakes Dredge & Dock

In related news, CEO Lasse Petterson sold 46,510 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $9.08, for a total transaction of $422,310.80. Following the transaction, the chief executive officer now owns 931,101 shares in the company, valued at $8,454,397.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders sold 128,990 shares of company stock worth $1,174,747 over the last three months. 2.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GLDD. ARS Investment Partners LLC increased its position in shares of Great Lakes Dredge & Dock by 11.0% during the 2nd quarter. ARS Investment Partners LLC now owns 12,150 shares of the construction company’s stock valued at $107,000 after purchasing an additional 1,200 shares during the last quarter. Quarry LP increased its holdings in Great Lakes Dredge & Dock by 68.5% during the second quarter. Quarry LP now owns 3,097 shares of the construction company’s stock valued at $27,000 after buying an additional 1,259 shares during the last quarter. Creative Planning raised its position in Great Lakes Dredge & Dock by 8.2% in the second quarter. Creative Planning now owns 38,688 shares of the construction company’s stock worth $340,000 after acquiring an additional 2,919 shares during the period. Innealta Capital LLC purchased a new position in shares of Great Lakes Dredge & Dock during the 2nd quarter worth $30,000. Finally, Quadrature Capital Ltd grew its position in shares of Great Lakes Dredge & Dock by 23.7% during the 1st quarter. Quadrature Capital Ltd now owns 18,278 shares of the construction company’s stock valued at $160,000 after acquiring an additional 3,506 shares during the period. 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.