Noble Financial Boosts Great Lakes Dredge & Dock (NASDAQ:GLDD) Price Target to $14.00

Great Lakes Dredge & Dock (NASDAQ:GLDD) had its target price hoisted by Noble Financial from $11.00 to $14.00 in a research report report published on Monday morning, Benzinga reports. Noble Financial currently has an outperform rating on the construction company’s stock.

Separately, StockNews.com cut shares of Great Lakes Dredge & Dock from a buy rating to a hold rating in a report on Thursday, August 15th.

Great Lakes Dredge & Dock Stock Performance

Great Lakes Dredge & Dock stock opened at $10.49 on Monday. The stock’s 50 day moving average is $9.39 and its 200 day moving average is $8.84. The company has a market capitalization of $702.92 million, a P/E ratio of 18.40, a PEG ratio of 0.38 and a beta of 1.15. Great Lakes Dredge & Dock has a twelve month low of $6.11 and a twelve month high of $10.93. The company has a quick ratio of 1.13, a current ratio of 1.32 and a debt-to-equity ratio of 0.98.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last posted its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $165.00 million. During the same quarter in the previous year, the firm earned $0.03 EPS. On average, equities research analysts predict that Great Lakes Dredge & Dock will post 0.8 earnings per share for the current fiscal year.

Insider Activity at Great Lakes Dredge & Dock

In other Great Lakes Dredge & Dock news, CEO Lasse Petterson sold 53,771 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $9.06, for a total value of $487,165.26. Following the completion of the transaction, the chief executive officer now owns 987,758 shares of the company’s stock, valued at approximately $8,949,087.48. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 128,990 shares of company stock valued at $1,174,747 over the last ninety days. Insiders own 2.20% of the company’s stock.

Institutional Trading of Great Lakes Dredge & Dock

Large investors have recently made changes to their positions in the stock. Quarry LP boosted its holdings in Great Lakes Dredge & Dock by 68.5% in 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 last quarter. Innealta Capital LLC bought a new position in shares of Great Lakes Dredge & Dock during the 2nd quarter valued at $30,000. CWM LLC grew its holdings in shares of Great Lakes Dredge & Dock by 520.5% in the second quarter. CWM LLC now owns 5,051 shares of the construction company’s stock worth $44,000 after acquiring an additional 4,237 shares during the period. ARS Investment Partners LLC increased its position in Great Lakes Dredge & Dock by 11.0% during the second quarter. ARS Investment Partners LLC now owns 12,150 shares of the construction company’s stock valued at $107,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in Great Lakes Dredge & Dock during the fourth quarter valued at $113,000. 89.11% of the stock is currently 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.