Great Lakes Dredge & Dock (NASDAQ:GLDD) Stock Price Crosses Above 200-Day Moving Average – Should You Sell?

Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.92 and traded as high as $13.60. Great Lakes Dredge & Dock shares last traded at $13.5440, with a volume of 142,233 shares trading hands.

Analyst Ratings Changes

Several research firms recently weighed in on GLDD. Weiss Ratings reiterated a “hold (c+)” rating on shares of Great Lakes Dredge & Dock in a report on Wednesday, October 8th. CJS Securities raised shares of Great Lakes Dredge & Dock to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, Zacks Research upgraded shares of Great Lakes Dredge & Dock from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 10th. Two investment analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

Great Lakes Dredge & Dock Stock Performance

The company has a 50 day moving average of $12.46 and a two-hundred day moving average of $11.92. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.20 and a quick ratio of 1.06. The company has a market capitalization of $920.99 million, a PE ratio of 11.48, a PEG ratio of 1.03 and a beta of 1.43.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last announced its earnings results on Tuesday, November 4th. The construction company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.09. The firm had revenue of $195.21 million for the quarter, compared to analysts’ expectations of $201.30 million. Great Lakes Dredge & Dock had a net margin of 9.65% and a return on equity of 16.84%. As a group, equities research analysts predict that Great Lakes Dredge & Dock Corporation will post 0.69 earnings per share for the current year.

Insider Buying and Selling

In other Great Lakes Dredge & Dock news, SVP David Johanson sold 2,100 shares of the company’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $13.96, for a total value of $29,316.00. Following the sale, the senior vice president owned 91,963 shares in the company, valued at approximately $1,283,803.48. This represents a 2.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.20% of the stock is owned by insiders.

Institutional Trading of Great Lakes Dredge & Dock

A number of hedge funds have recently made changes to their positions in GLDD. Dimensional Fund Advisors LP grew its stake in shares of Great Lakes Dredge & Dock by 0.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,323,251 shares of the construction company’s stock worth $51,835,000 after buying an additional 35,044 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Great Lakes Dredge & Dock by 0.8% in the first quarter. Vanguard Group Inc. now owns 3,907,174 shares of the construction company’s stock worth $33,992,000 after acquiring an additional 29,586 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Great Lakes Dredge & Dock by 10.6% in the third quarter. American Century Companies Inc. now owns 2,412,467 shares of the construction company’s stock worth $28,925,000 after acquiring an additional 231,558 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Great Lakes Dredge & Dock by 3.2% in the second quarter. Geode Capital Management LLC now owns 1,656,547 shares of the construction company’s stock worth $20,195,000 after acquiring an additional 51,269 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Great Lakes Dredge & Dock by 228.7% during the third quarter. Millennium Management LLC now owns 1,146,135 shares of the construction company’s stock valued at $13,742,000 after acquiring an additional 797,411 shares in the last quarter. 89.11% of the stock is owned by institutional investors.

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.