Great Lakes Dredge & Dock (NASDAQ:GLDD) Sets New 1-Year High – Time to Buy?

Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $12.27 and last traded at $12.25, with a volume of 250813 shares traded. The stock had previously closed at $12.12.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on GLDD shares. Noble Financial upped their target price on shares of Great Lakes Dredge & Dock from $11.00 to $14.00 and gave the stock an “outperform” rating in a research note on Monday, September 23rd. StockNews.com downgraded Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a report on Thursday, August 15th.

Great Lakes Dredge & Dock Price Performance

The firm has a market cap of $821.53 million, a price-to-earnings ratio of 21.33, a PEG ratio of 0.41 and a beta of 1.15. The company’s fifty day moving average is $10.25 and its 200 day moving average is $9.21. 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 data on Tuesday, August 6th. The construction company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.08. The company had revenue of $170.09 million during the quarter, compared to the consensus estimate of $165.00 million. Great Lakes Dredge & Dock had a net margin of 6.61% and a return on equity of 10.05%. During the same period in the prior year, the business posted $0.03 EPS. On average, equities research analysts predict that Great Lakes Dredge & Dock Co. will post 0.8 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Lasse Petterson sold 28,709 shares of the firm’s stock in a transaction 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 directly owns 902,392 shares of the company’s stock, valued at approximately $8,338,102.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 128,990 shares of company stock valued at $1,174,747 in the last 90 days. 2.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Great Lakes Dredge & Dock

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP lifted its position in shares of Great Lakes Dredge & Dock by 68.5% in 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. Innealta Capital LLC acquired a new position in shares of Great Lakes Dredge & Dock in the second quarter valued at $30,000. nVerses Capital LLC raised its position in shares of Great Lakes Dredge & Dock by 400.0% in the third quarter. nVerses Capital LLC now owns 3,500 shares of the construction company’s stock valued at $37,000 after purchasing an additional 2,800 shares during the period. CWM LLC raised its position 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 valued at $44,000 after purchasing an additional 4,237 shares during the period. Finally, ARS Investment Partners LLC lifted its stake 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 worth $107,000 after buying an additional 1,200 shares during the last quarter. Institutional investors own 89.11% of the company’s stock.

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.