Noble Financial Downgrades Great Lakes Dredge & Dock (NASDAQ:GLDD) to Market Perform

Great Lakes Dredge & Dock (NASDAQ:GLDD) was downgraded by analysts at Noble Financial from an “outperform” rating to a “market perform” rating in a note issued to investors on Thursday, MarketBeat.com reports.

A number of other brokerages have also issued reports on GLDD. Wall Street Zen lowered Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research report on Saturday, January 24th. JPMorgan Chase & Co. assumed coverage on Great Lakes Dredge & Dock in a research note on Thursday, January 22nd. They set an “overweight” rating and a $20.00 price objective for the company. Weiss Ratings upgraded Great Lakes Dredge & Dock from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, January 21st. Zacks Research cut Great Lakes Dredge & Dock from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 3rd. Finally, CJS Securities raised shares of Great Lakes Dredge & Dock to a “strong-buy” rating in a research report on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.00.

Great Lakes Dredge & Dock Price Performance

GLDD opened at $16.95 on Thursday. Great Lakes Dredge & Dock has a twelve month low of $7.51 and a twelve month high of $16.99. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 14.36, a PEG ratio of 1.22 and a beta of 1.42. The company has a current ratio of 1.20, a quick ratio of 1.06 and a debt-to-equity ratio of 0.83. The company has a fifty day simple moving average of $14.19 and a 200 day simple moving average of $12.62.

Insider Buying and Selling

In related news, SVP David Johanson sold 10,000 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $13.02, for a total transaction of $130,200.00. Following the completion of the sale, the senior vice president owned 94,063 shares of the company’s stock, valued at $1,224,700.26. This represents a 9.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Great Lakes Dredge & Dock

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Financial Management Professionals Inc. acquired a new position in shares of Great Lakes Dredge & Dock during the fourth quarter worth approximately $25,000. MAI Capital Management raised its stake in Great Lakes Dredge & Dock by 79.2% during the 3rd quarter. MAI Capital Management now owns 2,161 shares of the construction company’s stock valued at $26,000 after acquiring an additional 955 shares in the last quarter. Farther Finance Advisors LLC boosted its position in Great Lakes Dredge & Dock by 231.4% during the 4th quarter. Farther Finance Advisors LLC now owns 2,111 shares of the construction company’s stock worth $28,000 after acquiring an additional 1,474 shares during the period. Strs Ohio bought a new position in shares of Great Lakes Dredge & Dock in the first quarter worth $45,000. Finally, State of Alaska Department of Revenue acquired a new position in shares of Great Lakes Dredge & Dock during the third quarter valued at $46,000. 89.11% of the stock is currently owned by institutional investors and hedge funds.

Great Lakes Dredge & Dock News Roundup

Here are the key news stories impacting Great Lakes Dredge & Dock this week:

• Positive Sentiment: Saltchuk agreed to buy GLDD for $17.00 per share in an all-cash tender offer; the board approved the deal and Saltchuk cites an aggregate equity value of about $1.2B (total transaction value ~$1.5B) — this premium to recent trading is the main driver of today’s upside. Great Lakes Dredge & Dock to Join the Saltchuk Family of Companies
• Positive Sentiment: Unusually large call-option volume (7,147 calls, roughly a 1,401% increase vs. average) indicates bullish positioning by traders, which can amplify upward momentum into the deal price window.
• Neutral Sentiment: GLDD has scheduled its 2025 fourth-quarter and full-year results announcement; investors will watch the release for any operational or backlog details that could affect deal execution or deal-related adjustments. Great Lakes Dredge & Dock Corporation Schedules Announcement of 2025 Results
• Neutral Sentiment: Short-interest data are mixed in recent feeds — a reported January increase to ~2.08M shares short (~3.1% of float, ~2 days to cover) could matter if shorts cover into the tender, but some feeds show inconsistent/zero values likely due to reporting quirks; monitor updated official short-interest filings.
• Negative Sentiment: Several shareholder-law firms (Halper Sadeh, Monteverde & Associates, Ademi LLP, Wohl & Fruchter) have announced investigations claiming the $17/share price may not be fair; potential litigation or shareholder disputes could delay closing or force a re-evaluation of deal terms. GLDD Stock Alert: Halper Sadeh LLC is Investigating Shareholder Alert: The M&A Class Action Firm Announces An Investigation
• Negative Sentiment: Analysts expect a decline in upcoming earnings, which could influence any post-close valuation or provide leverage to dissenting shareholders arguing the offer undervalues the company. Analysts Estimate GLDD to Report a Decline in Earnings

About Great Lakes Dredge & Dock

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.