Groupe la Francaise Takes $2.19 Million Position in Great Lakes Dredge & Dock Corporation $GLDD

Groupe la Francaise purchased a new position in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 128,598 shares of the construction company’s stock, valued at approximately $2,186,000.

Several other hedge funds have also recently made changes to their positions in GLDD. Financial Management Professionals Inc. bought a new position in Great Lakes Dredge & Dock during the fourth quarter valued at approximately $25,000. Farther Finance Advisors LLC boosted its holdings in 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. Parallel Advisors LLC grew its position in Great Lakes Dredge & Dock by 39.0% in the 1st quarter. Parallel Advisors LLC now owns 2,304 shares of the construction company’s stock worth $39,000 after purchasing an additional 647 shares during the period. Strs Ohio bought a new stake in Great Lakes Dredge & Dock in the 1st quarter worth approximately $45,000. Finally, Bogart Wealth LLC purchased a new stake in Great Lakes Dredge & Dock during the 1st quarter valued at $51,000. 89.11% of the stock is owned by hedge funds and other institutional investors.

Great Lakes Dredge & Dock Price Performance

Shares of NASDAQ:GLDD opened at $17.00 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.01 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $1.14 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 1.26 and a beta of 1.38. The firm’s 50 day moving average price is $15.47 and its 200-day moving average price is $16.15. Great Lakes Dredge & Dock Corporation has a twelve month low of $8.80 and a twelve month high of $17.02.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Great Lakes Dredge & Dock to a “strong-buy” rating in a report on Saturday, April 4th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently 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.