Great Lakes Dredge & Dock (NASDAQ:GLDD) Downgraded by StockNews.com

StockNews.com cut shares of Great Lakes Dredge & Dock (NASDAQ:GLDD) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.

Great Lakes Dredge & Dock Price Performance

Shares of NASDAQ:GLDD opened at $9.12 on Thursday. Great Lakes Dredge & Dock has a fifty-two week low of $6.11 and a fifty-two week high of $9.93. The business has a 50-day moving average of $8.90 and a two-hundred day moving average of $8.62. The stock has a market capitalization of $611.12 million, a P/E ratio of 16.00, a P/E/G ratio of 0.36 and a beta of 1.14. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.25 and a quick ratio of 1.06.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last announced its earnings results on Tuesday, August 6th. The construction company reported $0.11 EPS for the quarter, topping 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 return on equity of 8.83% and a net margin of 6.05%. During the same period in the previous year, the business earned $0.03 EPS. On average, equities research analysts predict that Great Lakes Dredge & Dock will post 0.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Quarry LP lifted its holdings in shares of Great Lakes Dredge & Dock by 68.5% during the second quarter. Quarry LP now owns 3,097 shares of the construction company’s stock worth $27,000 after purchasing an additional 1,259 shares during the period. Innealta Capital LLC purchased a new position in Great Lakes Dredge & Dock in the second quarter valued at about $30,000. CWM LLC lifted its stake in shares of Great Lakes Dredge & Dock by 520.5% during the 2nd quarter. CWM LLC now owns 5,051 shares of the construction company’s stock valued at $44,000 after buying an additional 4,237 shares in the last quarter. ARS Investment Partners LLC increased its holdings in 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 worth $107,000 after acquiring an additional 1,200 shares during the period. Finally, Quadrature Capital Ltd bought a new position in shares of Great Lakes Dredge & Dock in the 4th quarter worth $113,000. 89.11% of the stock is owned by 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.