Fintel reports that BlackRock has filed a 13G/A form with the SEC disclosing ownership of 6.80MM shares of Great Lakes Dredge & Dock Corporation (GLDD). This represents 10.3% of the company.
In their previous filing dated January 24, 2023 they reported 6.40MM shares and 9.70% of the company, an increase in shares of 6.33% and an increase in total ownership of 0.60% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 112.90% Upside
As of April 6, 2023, the average one-year price target for Great Lakes Dredge & Dock is $11.22. The forecasts range from a low of $9.09 to a high of $14.70. The average price target represents an increase of 112.90% from its latest reported closing price of $5.27.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Great Lakes Dredge & Dock is $767MM, an increase of 18.18%. The projected annual non-GAAP EPS is $0.44.
What is the Fund Sentiment?
There are 350 funds or institutions reporting positions in Great Lakes Dredge & Dock. This is an increase of 7 owner(s) or 2.04% in the last quarter. Average portfolio weight of all funds dedicated to GLDD is 0.10%, a decrease of 34.15%. Total shares owned by institutions decreased in the last three months by 8.15% to 66,813K shares. The put/call ratio of GLDD is 0.02, indicating a bullish outlook.
What are Other Shareholders Doing?
QCSTRX - Stock Account Class R1 holds 15K shares representing 0.02% ownership of the company. In it's prior filing, the firm reported owning 40K shares, representing a decrease of 165.88%. The firm decreased its portfolio allocation in GLDD by 72.63% over the last quarter.
London Co Of Virginia holds 319K shares representing 0.48% ownership of the company. No change in the last quarter.
PACIFIC SELECT FUND - PD Small-Cap Growth Index Portfolio Class P holds 1K shares representing 0.00% ownership of the company. No change in the last quarter.
Jacobs Levy Equity Management holds 197K shares representing 0.30% ownership of the company. In it's prior filing, the firm reported owning 191K shares, representing an increase of 2.67%. The firm decreased its portfolio allocation in GLDD by 30.96% over the last quarter.
CZMSX - Multi-Manager Small Cap Equity Strategies Fund Institutional Class holds 98K shares representing 0.15% ownership of the company. In it's prior filing, the firm reported owning 83K shares, representing an increase of 15.27%. The firm decreased its portfolio allocation in GLDD by 12.65% over the last quarter.
Great Lakes Dredge & Dock Background Information
(This description is provided by the company.)
Great Lakes Dredge & Dock Corporation (“Great Lakes” or the “Company”) is the largest provider of dredging services in the United States. In addition, the Company has a long history of performing significant international projects. The Company employs experienced civil, ocean and mechanical engineering staff in its estimating, production and project management functions. In its over 130-year history, the Company has never failed to complete a marine project. Great Lakes has a disciplined training program for engineers that ensures experienced-based performance as they advance through Company operations. The Company’s Incident-and Injury-Free® (IIF®) safety management program is integrated into all aspects of the company’s culture. The company’s commitment to the IIF® culture promotes a work environment where employee safety is paramount. Great Lakes also owns and operates the largest and most diverse fleet in the U.S. dredging industry, comprised of over 200 specialized vessels.
This story originally appeared on Fintel.
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