Movers and SHAKERS
Great Lakes Dredge & Dock (GLDD)
A Win on Marsh Creation in Louisiana
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.
Another win by a slight margin in Louisiana. Bids were opened by the Coastal Protection & Restoration Authority (CPRA) late yesterday afternoon on the Golden Triangle Marsh Creation Project (PO-0163) in Louisiana. GLDD was the apparent low bidder at $32.4 million, with Weeks Marine closely behind at $33.7 million and Manson lagging with the highest bid at $77.1 million. A total of seven companies bid, and the low end of the bidding range was below the designer’s estimate was $38.21 million.
Solid dredging outlook with backlog at $559 million and potential infrastructure spending stimulus could create a tailwind. Another state project in Louisiana is out for bid now; Bids will be opened on the Lake Borgne Marsh Creation Project – Increment One (PO-0180) in St. Bernard Parish bids on April 21st ...
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
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