Posted on October 31, 2022
Mirae Asset Global Investments Co. Ltd. bought a new position in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD – Get Rating) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 19,777 shares of the construction company’s stock, valued at approximately $259,000.
Other large investors have also added to or reduced their stakes in the company. Teacher Retirement System of Texas boosted its position in Great Lakes Dredge & Dock by 6.8% in the first quarter. Teacher Retirement System of Texas now owns 13,637 shares of the construction company’s stock valued at $191,000 after buying an additional 874 shares during the last quarter. Barnett & Company Inc. boosted its position in Great Lakes Dredge & Dock by 1.4% in the first quarter. Barnett & Company Inc. now owns 63,450 shares of the construction company’s stock valued at $890,000 after buying an additional 900 shares during the last quarter. KBC Group NV boosted its position in Great Lakes Dredge & Dock by 2.8% in the first quarter. KBC Group NV now owns 61,139 shares of the construction company’s stock valued at $858,000 after buying an additional 1,667 shares during the last quarter. Canton Hathaway LLC boosted its position in Great Lakes Dredge & Dock by 33.3% in the second quarter. Canton Hathaway LLC now owns 8,800 shares of the construction company’s stock valued at $115,000 after buying an additional 2,200 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in Great Lakes Dredge & Dock in the first quarter valued at approximately $56,000. 85.94% of the stock is currently owned by institutional investors.
Insider Activity
In other Great Lakes Dredge & Dock news, CEO Lasse Petterson bought 10,000 shares of the firm’s stock in a transaction dated Friday, August 5th. The shares were purchased at an average price of $9.65 per share, for a total transaction of $96,500.00. Following the transaction, the chief executive officer now directly owns 1,003,630 shares of the company’s stock, valued at approximately $9,685,029.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.22% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have commented on GLDD shares. TheStreet lowered Great Lakes Dredge & Dock from a “b-” rating to a “c” rating in a research report on Wednesday, August 3rd. StockNews.com started coverage on Great Lakes Dredge & Dock in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock.
Great Lakes Dredge & Dock Trading Up 1.3 %
Great Lakes Dredge & Dock stock opened at $7.71 on Friday. The company has a current ratio of 2.00, a quick ratio of 1.78 and a debt-to-equity ratio of 0.78. Great Lakes Dredge & Dock Co. has a 12 month low of $7.03 and a 12 month high of $16.27. The stock’s 50 day simple moving average is $8.63 and its two-hundred day simple moving average is $11.55. The firm has a market cap of $509.40 million, a PE ratio of 11.17 and a beta of 0.87.
Great Lakes Dredge & Dock (NASDAQ:GLDD – Get Rating) last announced its earnings results on Tuesday, August 2nd. The construction company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.29). Great Lakes Dredge & Dock had a net margin of 6.30% and a return on equity of 11.38%. The business had revenue of $149.43 million for the quarter, compared to analysts’ expectations of $185.00 million. During the same quarter last year, the business earned $0.03 EPS. Analysts anticipate that Great Lakes Dredge & Dock Co. will post 0.34 earnings per share for the current year.
Great Lakes Dredge & Dock Company 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.
