Movers and SHAKERS
Great Lakes Dredge & Dock (GLDD)
New Awards Out and Stellar Execution on Debt Refinancing
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.
Dredging awards of $112.8 million announced. Awards include capital projects of $86.3 million, coastal protection of $15.6 million and maintenance of $10.9 million. The two capital projects are Mobile Harbor Phase 3 for $53.9 million and Golden Triangle Marsh Creation Project for $32.4 million. The coastal protection work is beach renourishment on Captiva Island for $15.6 million. The maintenance work is the Vicinity of McKellar Lake Harbor Project for $7.6 million and in Jacksonville Harbor for $3.3 million.
A loss by a slight margin in Louisiana. Bids were opened by the Coastal Protection & Restoration Authority (CPRA) on Wednesday for the Lake Borgne Marsh Creation Project (PO-0180) in Louisiana. Mike Hooks was the apparent low bidder at $60.7 million, with GLDD closely behind at $63.7 million. Among the seven bids, the highest bid was $102.0 million, and the low bid was below the designer’s estimate ...
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.