Key Points
- Great Lakes Dredge & Dock SVP David Johanson sold 10,000 shares at an average price of $13.02 for a total of $130,200, reducing his stake by 9.61% to 94,063 shares, as disclosed in an SEC filing.
- GLDD shares traded down 1.4% to $12.71 on Friday, trading within a 52-week range of $7.51–$13.10 and carrying a market cap of about $864.14 million with a P/E of 10.81.
- The company reported EPS of $0.26 (vs. $0.17 expected) and revenue of $195.21 million (below estimates); analysts' consensus is a "Buy" and institutional investors own about 89.11% of the stock.
Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD - Get Free Report) SVP David Johanson sold 10,000 shares of the business's stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $13.02, for a total value of $130,200.00. Following the completion of the transaction, the senior vice president owned 94,063 shares of the company's stock, valued at $1,224,700.26. This trade represents a 9.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Great Lakes Dredge & Dock Trading Down 1.4%
Shares of GLDD stock traded down $0.18 during mid-day trading on Friday, hitting $12.71. 37,435 shares of the company's stock were exchanged, compared to its average volume of 462,794. Great Lakes Dredge & Dock Corporation has a fifty-two week low of $7.51 and a fifty-two week high of $13.10. The stock has a 50-day simple moving average of $11.90 and a two-hundred day simple moving average of $11.68. The company has a quick ratio of 1.06, a current ratio of 1.20 and a debt-to-equity ratio of 0.83. The stock has a market cap of $864.14 million, a price-to-earnings ratio of 10.81, a PEG ratio of 0.99 and a beta of 1.43.
Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last released its earnings results on Tuesday, November 4th. The construction company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.17 by $0.09. Great Lakes Dredge & Dock had a return on equity of 16.84% and a net margin of 9.65%.The firm had revenue of $195.21 million during the quarter, compared to analyst estimates of $201.30 million. Equities analysts expect that Great Lakes Dredge & Dock Corporation will post 0.69 EPS for the current fiscal year.
Institutional Trading of Great Lakes Dredge & Dock
Several large investors have recently added to or reduced their stakes in GLDD. MAI Capital Management lifted its stake in shares of Great Lakes Dredge & Dock by 79.2% during the third quarter. MAI Capital Management now owns 2,161 shares of the construction company's stock worth $26,000 after purchasing an additional 955 shares in the last quarter. Strs Ohio purchased a new stake in shares of Great Lakes Dredge & Dock during the 1st quarter valued at about $45,000. State of Alaska Department of Revenue purchased a new stake in shares of Great Lakes Dredge & Dock during the 3rd quarter valued at about $46,000. Quarry LP lifted its position in Great Lakes Dredge & Dock by 213.7% during the 1st quarter. Quarry LP now owns 5,503 shares of the construction company's stock worth $48,000 after acquiring an additional 3,749 shares in the last quarter. Finally, Federated Hermes Inc. boosted its holdings in Great Lakes Dredge & Dock by 43.5% in the 2nd quarter. Federated Hermes Inc. now owns 4,965 shares of the construction company's stock worth $61,000 after acquiring an additional 1,505 shares during the period. 89.11% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on the stock. Zacks Research upgraded shares of Great Lakes Dredge & Dock from a "hold" rating to a "strong-buy" rating in a report on Monday, November 10th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Great Lakes Dredge & Dock in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy".
Read Our Latest Stock Report on Great Lakes Dredge & Dock
About Great Lakes Dredge & Dock
(
Get Free Report)
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.
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