Great Lakes Dredge & Dock (NASDAQ:GLDD) Given a $14.00 Price Target at Noble Financial

Noble Financial set a $14.00 target price on Great Lakes Dredge & Dock (NASDAQ:GLDD) in a research report sent to investors on Sunday morning, AnalystRatings.com reports. The firm currently has a buy rating on the construction company’s stock.

Other equities research analysts also recently issued research reports about the company. ValuEngine downgraded Great Lakes Dredge & Dock from a buy rating to a hold rating in a research report on Tuesday, September 10th. Zacks Investment Research upgraded Great Lakes Dredge & Dock from a hold rating to a strong-buy rating and set a $12.00 target price on the stock in a research report on Friday, August 2nd. Finally, BidaskClub downgraded Great Lakes Dredge & Dock from a buy rating to a hold rating in a research report on Thursday, September 12th.

NASDAQ:GLDD opened at $10.21 on Friday. The company has a market cap of $638.94 million, a P/E ratio of 28.36 and a beta of 0.60. The stock’s fifty day moving average price is $10.48 and its two-hundred day moving average price is $10.21. Great Lakes Dredge & Dock has a 1 year low of $5.37 and a 1 year high of $11.81. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.31 and a quick ratio of 1.18.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last posted its earnings results on Wednesday, July 31st. The construction company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.06. The firm had revenue of $184.81 million for the quarter, compared to the consensus estimate of $181.65 million. Great Lakes Dredge & Dock had a return on equity of 22.64% and a net margin of 3.90%. The business’s quarterly revenue was up 36.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.02 earnings per share. On average, analysts expect that Great Lakes Dredge & Dock will post 0.74 earnings per share for the current fiscal year.

In other news, insider David E. Simonelli sold 3,809 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $10.90, for a total value of $41,518.10. Following the transaction, the insider now owns 322,048 shares of the company’s stock, valued at $3,510,323.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ryan Levenson sold 21,905 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $10.14, for a total transaction of $222,116.70. Following the completion of the transaction, the director now directly owns 35,816 shares in the company, valued at approximately $363,174.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,878 shares of company stock worth $276,171. Company insiders own 4.66% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. River & Mercantile Asset Management LLP bought a new position in shares of Great Lakes Dredge & Dock in the second quarter worth $2,423,000. Hancock Whitney Corp bought a new position in shares of Great Lakes Dredge & Dock in the second quarter worth $125,000. Harvey Partners LLC increased its holdings in shares of Great Lakes Dredge & Dock by 2.7% in the second quarter. Harvey Partners LLC now owns 287,600 shares of the construction company’s stock worth $3,175,000 after purchasing an additional 7,600 shares during the period. Mackenzie Financial Corp increased its holdings in shares of Great Lakes Dredge & Dock by 198.5% in the second quarter. Mackenzie Financial Corp now owns 73,330 shares of the construction company’s stock worth $810,000 after purchasing an additional 48,760 shares during the period. Finally, One Wealth Advisors LLC bought a new position in shares of Great Lakes Dredge & Dock in the second quarter worth $139,000. 85.74% of the stock is currently owned by hedge funds and other institutional investors.

About Great Lakes Dredge & Dock

Great Lakes Dredge & Dock Corporation provides dredging services in the United States and internationally. The company is involved 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.

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