Great Lakes Dredge & Dock (NASDAQ:GLDD) Stock Price Down 9.3% – Here’s Why

Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)’s share price was down 9.3% during mid-day trading on Tuesday . The stock traded as low as $10.07 and last traded at $9.98. Approximately 170,556 shares traded hands during trading, a decline of 53% from the average daily volume of 359,861 shares. The stock had previously closed at $11.00.

Great Lakes Dredge & Dock Stock Down 18.4 %

The business’s 50 day simple moving average is $11.55 and its 200 day simple moving average is $11.11. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.21 and a quick ratio of 1.01. The company has a market capitalization of $604.10 million, a PE ratio of 10.32, a P/E/G ratio of 0.37 and a beta of 1.16.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last released its quarterly earnings data on Tuesday, February 18th. The construction company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.06. Great Lakes Dredge & Dock had a return on equity of 13.35% and a net margin of 7.97%. As a group, analysts anticipate that Great Lakes Dredge & Dock Co. will post 0.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Great Lakes Dredge & Dock

A number of hedge funds have recently modified their holdings of GLDD. Castlekeep Investment Advisors LLC purchased a new stake in Great Lakes Dredge & Dock in the 4th quarter valued at about $62,958,000. Dimensional Fund Advisors LP increased its position in shares of Great Lakes Dredge & Dock by 0.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,443,586 shares of the construction company’s stock valued at $50,168,000 after acquiring an additional 22,370 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Great Lakes Dredge & Dock by 1.9% in the 3rd quarter. Jennison Associates LLC now owns 4,333,438 shares of the construction company’s stock valued at $45,631,000 after acquiring an additional 79,087 shares during the period. Vanguard Group Inc. raised its stake in shares of Great Lakes Dredge & Dock by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 3,877,588 shares of the construction company’s stock valued at $43,778,000 after acquiring an additional 27,610 shares during the period. Finally, Harvey Partners LLC lifted its holdings in shares of Great Lakes Dredge & Dock by 9.8% in the 3rd quarter. Harvey Partners LLC now owns 3,647,500 shares of the construction company’s stock worth $38,408,000 after acquiring an additional 325,500 shares during the last quarter. 89.11% of the stock is currently owned by hedge funds and other institutional investors.

Great Lakes Dredge & Dock Company Profile

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.