Great Lakes Dredge & Dock (NASDAQ:GLDD – Get Free Report) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.
Separately, TheStreet raised shares of Great Lakes Dredge & Dock from a “d+” rating to a “c-” rating in a report on Tuesday, February 20th.
View Our Latest Analysis on GLDD
Great Lakes Dredge & Dock Stock Down 0.1 %
Great Lakes Dredge & Dock (NASDAQ:GLDD – Get Free Report) last issued its quarterly earnings results on Wednesday, February 14th. The construction company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.16. Great Lakes Dredge & Dock had a return on equity of 2.56% and a net margin of 2.36%. The company had revenue of $181.73 million during the quarter, compared to the consensus estimate of $190.05 million. Analysts predict that Great Lakes Dredge & Dock will post 0.57 earnings per share for the current year.
Hedge Funds Weigh In On Great Lakes Dredge & Dock
Several institutional investors have recently bought and sold shares of the company. Acuitas Investments LLC bought a new stake in shares of Great Lakes Dredge & Dock in the fourth quarter valued at $2,416,000. Private Management Group Inc. raised its stake in Great Lakes Dredge & Dock by 18.0% in the 4th quarter. Private Management Group Inc. now owns 1,223,133 shares of the construction company’s stock valued at $9,394,000 after acquiring an additional 186,653 shares during the period. Essex Investment Management Co. LLC purchased a new stake in Great Lakes Dredge & Dock during the third quarter valued at about $2,583,000. Wellington Management Group LLP boosted its position in Great Lakes Dredge & Dock by 45.2% during the third quarter. Wellington Management Group LLP now owns 439,986 shares of the construction company’s stock worth $3,507,000 after purchasing an additional 136,901 shares during the period. Finally, Jennison Associates LLC increased its stake in shares of Great Lakes Dredge & Dock by 9.3% in the fourth quarter. Jennison Associates LLC now owns 4,299,418 shares of the construction company’s stock worth $33,020,000 after purchasing an additional 366,923 shares in the last quarter. Hedge funds and other 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.
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