Great Lakes Dredge & Dock (NASDAQ:GLDD) Trading Down 9.3% – Time to Sell?

Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)’s stock price dropped 9.3% on Tuesday . The company traded as low as $10.07 and last traded at $9.98. Approximately 170,556 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 359,861 shares. The stock had previously closed at $11.00.

Great Lakes Dredge & Dock Stock Performance

The firm has a 50 day moving average price of $11.33 and a 200-day moving average price of $11.08. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.01 and a current ratio of 1.21. The company has a market cap of $584.58 million, a P/E ratio of 10.35, a P/E/G ratio of 0.29 and a beta of 1.16.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last announced its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.23 by $0.06. Great Lakes Dredge & Dock had a return on equity of 13.72% and a net margin of 7.51%. The company had revenue of $202.77 million for the quarter, compared to the consensus estimate of $211.20 million. On average, research analysts predict that Great Lakes Dredge & Dock Co. will post 0.88 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GLDD. Sanctuary Advisors LLC raised its stake in Great Lakes Dredge & Dock by 0.4% during the 4th quarter. Sanctuary Advisors LLC now owns 235,282 shares of the construction company’s stock valued at $2,623,000 after purchasing an additional 979 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Great Lakes Dredge & Dock by 1.0% during the third quarter. Victory Capital Management Inc. now owns 123,228 shares of the construction company’s stock valued at $1,298,000 after buying an additional 1,228 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Great Lakes Dredge & Dock by 3.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,537 shares of the construction company’s stock valued at $424,000 after buying an additional 1,235 shares during the period. Hsbc Holdings PLC grew its position in Great Lakes Dredge & Dock by 5.7% during the fourth quarter. Hsbc Holdings PLC now owns 39,984 shares of the construction company’s stock worth $453,000 after buying an additional 2,150 shares in the last quarter. Finally, MetLife Investment Management LLC increased its stake in Great Lakes Dredge & Dock by 5.9% during the fourth quarter. MetLife Investment Management LLC now owns 39,877 shares of the construction company’s stock valued at $450,000 after acquiring an additional 2,213 shares during the period. Institutional investors own 89.11% of the company’s stock.

About Great Lakes Dredge & Dock

Great Lakes Dredge & Dock Corp. engages in the provision of dredging services. Its projects include channel and port maintenance, channel deepening and port expansion, coastal protection and restoration, as well as land reclamation. The company was founded by William A. Lydon and Frederick C. Drews in 1890 and is headquartered in Houston, TX.