Movers and SHAKERS
Great Lakes Dredge & Dock (GLDD)
Low Bid Awarded - Updating Awards and Low Bids
Great Lakes Dredge & Dock Corp is a provider of dredging services in the United States. The company only's operating segments is Dredging. Dredging involves the enhancement or preservation of navigability of waterways or the protection of shorelines through the removal or replenishment of soil, sand or rock. Its projects portfolio includes Coastal Restoration, Coastal Protection, Port expansion, and others.
Poe Fratt, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Final award on Regional Atlantic Harbor totals $25.8 million. The final award of $25.8 million on South Atlantic Regional Harbor Dredging (W912PM21B0008) was posted after the market closed. The project, which includes work at five harbors along the east coast, is attractive since it fits environmental windows and hopper dredge availability. When bids were opened on October 5th, GLDD was the low bid at $29.4 million so we estimate that there are options of $3.6 million.
4Q2021 Bidding off to good start. Recent awards to be added to 4Q2021 backlog include the South Atlantic Regional Harbor for $25.7 million (excluding options of $3.7 million) and the Oak Island Renourishment Project 2021/2022 of $17.1 million. Per a recent note, the Port Houston pending award of $95.4 million should be final shortly and add to 4Q2021 backlog ...
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.