Great Lakes Dredge & Dock (NASDAQ:GLDD) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $10.63 and traded as high as $11.17. Great Lakes Dredge & Dock shares last traded at $11.08, with a volume of 336,408 shares traded.

Analyst Upgrades and Downgrades

Separately, Noble Financial boosted their price objective on Great Lakes Dredge & Dock from $11.00 to $14.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd.

Great Lakes Dredge & Dock Trading Down 2.6 %

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’s 50 day moving average is $12.03 and its 200 day moving average is $10.64. The stock has a market capitalization of $745.37 million, a price-to-earnings ratio of 12.74, a PEG ratio of 0.48 and a beta of 1.17.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last announced its quarterly earnings data on Tuesday, November 5th. The construction company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.05). Great Lakes Dredge & Dock had a net margin of 7.97% and a return on equity of 13.35%. The company had revenue of $191.17 million for the quarter, compared to analyst estimates of $180.80 million. During the same period in the prior year, the company posted ($0.09) EPS. On average, research analysts forecast that Great Lakes Dredge & Dock Co. will post 0.76 EPS for the current fiscal year.

Insider Transactions at Great Lakes Dredge & Dock

In other Great Lakes Dredge & Dock news, Director Kathleen M. Shanahan sold 23,238 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $12.63, for a total transaction of $293,495.94. Following the completion of the transaction, the director now owns 67,675 shares in the company, valued at $854,735.25. This trade represents a 25.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.20% of the stock is owned by insiders.

Institutional Trading of Great Lakes Dredge & Dock

Several hedge funds have recently modified their holdings of the company. Jennison Associates LLC raised its stake in shares of Great Lakes Dredge & Dock by 1.9% in the third quarter. Jennison Associates LLC now owns 4,333,438 shares of the construction company’s stock worth $45,631,000 after acquiring an additional 79,087 shares during the last quarter. Harvey Partners LLC raised its position in Great Lakes Dredge & Dock by 9.8% in the 3rd quarter. Harvey Partners LLC now owns 3,647,500 shares of the construction company’s stock worth $38,408,000 after purchasing an additional 325,500 shares during the last quarter. TCW Group Inc. boosted its position in Great Lakes Dredge & Dock by 5.0% in the 3rd quarter. TCW Group Inc. now owns 2,095,834 shares of the construction company’s stock valued at $22,069,000 after buying an additional 99,696 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Great Lakes Dredge & Dock by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,561,897 shares of the construction company’s stock valued at $16,450,000 after buying an additional 22,166 shares during the period. Finally, State Street Corp raised its position in shares of Great Lakes Dredge & Dock by 0.9% during the third quarter. State Street Corp now owns 1,540,516 shares of the construction company’s stock worth $16,222,000 after acquiring an additional 13,010 shares during the last quarter. Institutional investors and hedge funds 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.