Great Lakes Dredge & Dock Corporation $GLDD Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd lowered its stake in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) by 33.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 142,229 shares of the construction company’s stock after selling 71,287 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Great Lakes Dredge & Dock were worth $2,418,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in GLDD. Financial Management Professionals Inc. purchased a new stake in Great Lakes Dredge & Dock during the 4th quarter valued at about $25,000. Farther Finance Advisors LLC raised its stake in shares of Great Lakes Dredge & Dock by 231.4% in the fourth quarter. Farther Finance Advisors LLC now owns 2,111 shares of the construction company’s stock worth $28,000 after purchasing an additional 1,474 shares during the last quarter. Strs Ohio acquired a new stake in shares of Great Lakes Dredge & Dock during the first quarter worth about $45,000. Federated Hermes Inc. boosted its position in Great Lakes Dredge & Dock by 43.5% in 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, New York State Teachers Retirement System acquired a new position in Great Lakes Dredge & Dock in the 4th quarter worth approximately $80,000. 89.11% of the stock is currently owned by institutional investors and hedge funds.

Great Lakes Dredge & Dock Stock Performance

Shares of NASDAQ:GLDD opened at $17.00 on Wednesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.01 and a quick ratio of 0.88. Great Lakes Dredge & Dock Corporation has a 1 year low of $8.80 and a 1 year high of $17.02. The firm has a market capitalization of $1.14 billion, a PE ratio of 15.89, a P/E/G ratio of 1.26 and a beta of 1.38. The business’s 50 day moving average price is $15.47 and its 200-day moving average price is $15.70.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. CJS Securities restated a “market perform” rating on shares of Great Lakes Dredge & Dock in a research report on Wednesday, March 11th. Wall Street Zen upgraded Great Lakes Dredge & Dock to a “strong-buy” rating in a research note on Saturday, April 4th. Finally, JPMorgan Chase & Co. cut Great Lakes Dredge & Dock from a “neutral” rating to an “underweight” rating and set a $17.00 price objective for the company. in a report on Thursday, March 26th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $17.00.

Great Lakes Dredge & Dock 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.