Great Lakes Dredge & Dock (NASDAQ:GLDD) Stock Crosses Above 200 Day Moving Average – What’s Next?

Shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) 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 changing hands.

Analyst Upgrades and Downgrades

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

Great Lakes Dredge & Dock Price Performance

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 has a market capitalization of $745.37 million, a price-to-earnings ratio of 12.74, a price-to-earnings-growth ratio of 0.48 and a beta of 1.17. The company has a 50-day moving average price of $12.03 and a 200-day moving average price of $10.64.

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

Insiders Place Their Bets

In other Great Lakes Dredge & Dock news, Director Kathleen M. Shanahan sold 23,238 shares of Great Lakes Dredge & Dock stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $12.63, for a total value of $293,495.94. Following the sale, the director now owns 67,675 shares of the company’s stock, valued at $854,735.25. This trade represents a 25.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Jennison Associates LLC boosted its position in Great Lakes Dredge & Dock by 1.9% during the 3rd 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 lifted its position in shares of Great Lakes Dredge & Dock by 9.8% in the third 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 in the last quarter. TCW Group Inc. boosted its holdings in Great Lakes Dredge & Dock by 5.0% during the third quarter. TCW Group Inc. now owns 2,095,834 shares of the construction company’s stock worth $22,069,000 after purchasing an additional 99,696 shares during the last quarter. Geode Capital Management LLC grew its position in Great Lakes Dredge & Dock by 1.4% in the third quarter. Geode Capital Management LLC now owns 1,561,897 shares of the construction company’s stock valued at $16,450,000 after purchasing an additional 22,166 shares in the last quarter. Finally, State Street Corp increased its stake in Great Lakes Dredge & Dock by 0.9% in the 3rd quarter. State Street Corp now owns 1,540,516 shares of the construction company’s stock valued at $16,222,000 after buying an additional 13,010 shares during the last quarter. 89.11% of the stock is currently owned by institutional investors.

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.