Y Intercept Hong Kong Ltd cut its stake in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD – Free Report) by 33.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 142,229 shares of the construction company’s stock after selling 71,287 shares during the quarter. Y Intercept Hong Kong Ltd owned 0.21% of Great Lakes Dredge & Dock worth $2,418,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. ProShare Advisors LLC increased its position in shares of Great Lakes Dredge & Dock by 6.9% during the 4th quarter. ProShare Advisors LLC now owns 12,168 shares of the construction company’s stock valued at $160,000 after purchasing an additional 786 shares during the last quarter. Farther Finance Advisors LLC grew its position in Great Lakes Dredge & Dock by 231.4% during the fourth quarter. Farther Finance Advisors LLC now owns 2,111 shares of the construction company’s stock valued at $28,000 after buying an additional 1,474 shares during the period. Raymond James Financial Inc. grew its position in Great Lakes Dredge & Dock by 0.8% during the third quarter. Raymond James Financial Inc. now owns 188,570 shares of the construction company’s stock valued at $2,261,000 after buying an additional 1,476 shares during the period. Federated Hermes Inc. increased its holdings in Great Lakes Dredge & Dock by 43.5% during the second quarter. Federated Hermes Inc. now owns 4,965 shares of the construction company’s stock valued at $61,000 after buying an additional 1,505 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Great Lakes Dredge & Dock by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,190 shares of the construction company’s stock worth $341,000 after acquiring an additional 1,653 shares during the period. 89.11% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on the company. JPMorgan Chase & Co. cut Great Lakes Dredge & Dock from a “neutral” rating to an “underweight” rating and set a $17.00 target price on the stock. in a report on Thursday, March 26th. CJS Securities restated a “market perform” rating on shares of Great Lakes Dredge & Dock in a research report on Wednesday, March 11th. Finally, Wall Street Zen raised Great Lakes Dredge & Dock to a “strong-buy” rating in a research report on Saturday, April 4th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Great Lakes Dredge & Dock has a consensus rating of “Hold” and an average target price of $17.00.
Great Lakes Dredge & Dock Stock Performance
Shares of GLDD opened at $17.00 on Wednesday. The company’s fifty day simple moving average is $15.47 and its 200-day simple moving average is $15.70. The company has a market cap of $1.14 billion, a P/E ratio of 15.89, a P/E/G ratio of 1.26 and a beta of 1.38. The company has a current ratio of 1.01, a quick ratio of 0.88 and a debt-to-equity ratio of 0.73. Great Lakes Dredge & Dock Corporation has a twelve month low of $8.80 and a twelve month high of $17.02.
Great Lakes Dredge & Dock Company 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.
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