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

Great Lakes Dredge & Dock (NASDAQ:GLDD) had its price target raised by stock analysts at Noble Financial from $11.00 to $14.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has an “outperform” rating on the construction company’s stock. Noble Financial’s price target would indicate a potential upside of 30.72% from the company’s current price.

Separately, StockNews.com cut 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 Trading Up 2.5 %

NASDAQ GLDD traded up $0.26 during trading hours on Monday, reaching $10.71. The company had a trading volume of 56,677 shares, compared to its average volume of 431,453. 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 stock has a market capitalization of $717.67 million, a P/E ratio of 19.02, a price-to-earnings-growth ratio of 0.34 and a beta of 1.15. The stock has a 50-day moving average of $9.30 and a 200 day moving average of $8.80. Great Lakes Dredge & Dock has a 1-year low of $6.11 and a 1-year high of $10.86.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last posted its earnings results on Tuesday, August 6th. The construction company reported $0.11 earnings per share for the quarter, beating 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 firm had revenue of $170.09 million during the quarter, compared to the consensus estimate of $165.00 million. During the same quarter last year, the firm earned $0.03 EPS. As a group, research analysts anticipate that Great Lakes Dredge & Dock will post 0.8 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Lasse Petterson sold 28,709 shares of Great Lakes Dredge & Dock stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $9.24, for a total value of $265,271.16. Following the completion of the transaction, the chief executive officer now owns 902,392 shares in the company, valued at $8,338,102.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 128,990 shares of company stock worth $1,174,747. Company insiders own 2.20% of the company’s stock.

Institutional Trading of Great Lakes Dredge & Dock

Hedge funds and other institutional investors have recently bought and sold shares of the business. Algert Global LLC purchased a new position in shares of Great Lakes Dredge & Dock during the second quarter worth about $2,192,000. Sanctuary Advisors LLC purchased a new position in shares of Great Lakes Dredge & Dock in the 2nd quarter valued at approximately $2,057,000. Marshall Wace LLP purchased a new position in Great Lakes Dredge & Dock during the 2nd quarter worth $1,823,000. GSA Capital Partners LLP purchased a new position in Great Lakes Dredge & Dock during the first quarter worth about $1,701,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of 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 during the period. 89.11% of the stock is currently owned by institutional investors and hedge funds.

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.