Posted on February 12, 2024
Essex Investment Management Co. LLC acquired a new stake in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD – Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 324,096 shares of the construction company’s stock, valued at approximately $2,583,000. Essex Investment Management Co. LLC owned 0.49% of Great Lakes Dredge & Dock at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. increased its position in Great Lakes Dredge & Dock by 6.3% during the 1st quarter. BlackRock Inc. now owns 6,802,165 shares of the construction company’s stock valued at $36,936,000 after purchasing an additional 404,671 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Great Lakes Dredge & Dock by 20.8% during the 2nd quarter. Alliancebernstein L.P. now owns 4,935,510 shares of the construction company’s stock valued at $40,274,000 after buying an additional 849,506 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of Great Lakes Dredge & Dock by 21.0% during the 3rd quarter. Jennison Associates LLC now owns 3,932,495 shares of the construction company’s stock valued at $31,342,000 after buying an additional 681,179 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Great Lakes Dredge & Dock by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 3,273,834 shares of the construction company’s stock valued at $24,815,000 after buying an additional 43,193 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its stake in Great Lakes Dredge & Dock by 1.9% in the 2nd quarter. William Blair Investment Management LLC now owns 2,686,424 shares of the construction company’s stock worth $21,921,000 after purchasing an additional 49,698 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on the company. StockNews.com lowered Great Lakes Dredge & Dock from a “hold” rating to a “sell” rating in a research report on Thursday, January 18th. TheStreet lowered shares of Great Lakes Dredge & Dock from a “c-” rating to a “d+” rating in a report on Wednesday, November 8th.
Great Lakes Dredge & Dock Price Performance
Shares of GLDD opened at $8.07 on Friday. The business has a fifty day moving average of $7.53 and a 200 day moving average of $7.73. Great Lakes Dredge & Dock Co. has a 52-week low of $4.74 and a 52-week high of $9.67. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.83 and a current ratio of 1.02.
Great Lakes Dredge & Dock Profile
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.
