Great Lakes Dredge & Dock (NASDAQ:GLDD) Shares Down 9.3% – Time to Sell?

Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)’s share price traded down 9.3% on Tuesday . The company traded as low as $10.07 and last traded at $9.98. 170,556 shares were traded during mid-day trading, a decline of 53% from the average session volume of 359,861 shares. The stock had previously closed at $11.00.

Great Lakes Dredge & Dock Trading Down 18.4 %

The company has a fifty day moving average of $11.55 and a 200-day moving average of $11.11. The company has a market capitalization of $604.10 million, a price-to-earnings ratio of 10.32, a PEG ratio of 0.37 and a beta of 1.16. The company has a current ratio of 1.21, a quick ratio of 1.01 and a debt-to-equity ratio of 0.97.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last issued its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.23 by $0.06. Great Lakes Dredge & Dock had a return on equity of 13.35% and a net margin of 7.97%. As a group, equities research analysts anticipate that Great Lakes Dredge & Dock Co. will post 0.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Great Lakes Dredge & Dock

A number of hedge funds have recently modified their holdings of GLDD. Castlekeep Investment Advisors LLC acquired a new position in Great Lakes Dredge & Dock during the fourth quarter worth about $62,958,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Great Lakes Dredge & Dock in the third quarter valued at approximately $6,744,000. JPMorgan Chase & Co. increased its holdings in shares of Great Lakes Dredge & Dock by 259.6% in the fourth quarter. JPMorgan Chase & Co. now owns 820,397 shares of the construction company’s stock valued at $9,262,000 after purchasing an additional 592,276 shares during the last quarter. Millennium Management LLC lifted its position in Great Lakes Dredge & Dock by 254.3% during the fourth quarter. Millennium Management LLC now owns 698,071 shares of the construction company’s stock worth $7,881,000 after buying an additional 501,032 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in Great Lakes Dredge & Dock by 40.7% during the fourth quarter. American Century Companies Inc. now owns 1,615,591 shares of the construction company’s stock worth $18,240,000 after buying an additional 467,164 shares during the last quarter. 89.11% of the stock is currently owned by institutional investors and hedge funds.

Great Lakes Dredge & Dock Company Profile

Great Lakes Dredge & Dock Corp. engages in the provision of dredging services. Its projects include channel and port maintenance, channel deepening and port expansion, coastal protection and restoration, as well as land reclamation. The company was founded by William A. Lydon and Frederick C. Drews in 1890 and is headquartered in Houston, TX.