Seven Six Capital Management LLC Decreases Stock Holdings in Great Lakes Dredge & Dock Corporation $GLDD

Seven Six Capital Management LLC trimmed its position in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) by 37.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 111,113 shares of the construction company’s stock after selling 67,400 shares during the quarter. Great Lakes Dredge & Dock accounts for approximately 1.5% of Seven Six Capital Management LLC’s holdings, making the stock its 24th biggest holding. Seven Six Capital Management LLC’s holdings in Great Lakes Dredge & Dock were worth $1,458,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in GLDD. Financial Management Professionals Inc. purchased a new position in shares of Great Lakes Dredge & Dock in the fourth quarter worth $25,000. MAI Capital Management increased its stake in shares of Great Lakes Dredge & Dock by 79.2% in the third quarter. MAI Capital Management now owns 2,161 shares of the construction company’s stock worth $26,000 after buying an additional 955 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Great Lakes Dredge & Dock by 231.4% in the fourth quarter. Farther Finance Advisors LLC now owns 2,111 shares of the construction company’s stock worth $28,000 after buying an additional 1,474 shares during the period. Strs Ohio purchased a new position in Great Lakes Dredge & Dock during the 1st quarter valued at $45,000. Finally, Federated Hermes Inc. increased its position in Great Lakes Dredge & Dock by 43.5% during the 2nd quarter. Federated Hermes Inc. now owns 4,965 shares of the construction company’s stock valued at $61,000 after purchasing an additional 1,505 shares during the period. 89.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on GLDD shares. Wall Street Zen raised shares of Great Lakes Dredge & Dock to a “strong-buy” rating in a research report on Saturday, April 4th. CJS Securities reissued a “market perform” rating on shares of Great Lakes Dredge & Dock in a research report on Wednesday, March 11th. Zacks Research raised shares of Great Lakes Dredge & Dock from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Finally, JPMorgan Chase & Co. downgraded shares of Great Lakes Dredge & Dock from a “neutral” rating to an “underweight” rating and set a $17.00 price objective on the stock. in a research report on Thursday, March 26th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $17.00.

Great Lakes Dredge & Dock Price Performance

NASDAQ:GLDD opened at $9.60 on Wednesday. The firm’s 50-day moving average price is $16.06 and its 200-day moving average price is $15.52. The company has a market capitalization of $641.10 million, a PE ratio of 8.97, a P/E/G ratio of 1.26 and a beta of 1.38. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.01 and a quick ratio of 0.88. Great Lakes Dredge & Dock Corporation has a 1-year low of $8.80 and a 1-year high of $17.02.

Great Lakes Dredge & Dock Profile

Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) is a leading provider of dredging and maritime construction services in the United States. The company specializes in the excavation and removal of sediment from waterways, harbors, ports and coastal areas to maintain navigability and support commercial shipping. Its operations encompass both maintenance dredging—removing accumulated material to restore channel depth—and new work projects such as land reclamation and harbor deepening.

In addition to traditional dredging, Great Lakes Dredge & Dock offers a range of complementary marine construction services.