Movers and SHAKERS
Great Lakes Dredge & Dock (GLDD)
A Victory on Jacksonville C!
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.
Jacksonville C award of $104.98 million posted. The US Army Corp of Engineers (USACE) posted the award, which does not include options, on the DoD and government services web sites. Bids were solicited via the internet and there was only one other bidder. The project was on a Request for Proposal (RFP) basis so we don't know the identity of other bidder nor the bid amount. The award is positive for the intermediate term outlook since the majority of the work will be completed in 2021 and 2022 given the estimated completion date is October 15, 2022.
Two smaller awards totaling $24.4 million also posted. The larger award named South Atlantic Regional work in four harbors (including Brunswick, Morehead City, Savannah, and Wilmington) for $16.4 million has been highlighted as a low bid pending award in several past research notes, and the smaller award of $8.0 million involves maintenance dredging on the Morehead City Harbor ...
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*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.