Thursday, March 11, 2021

Great Lakes Dredge & Dock (GLDD)
A Nice Win on Boston Harbor

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.

A Nice Win on Boston Harbor. The Dept of Defense government contract summary indicated that GLDD has been awarded a $61.8 million contract for rock blasting, removal and dredging in Boston Harbor. There were three other bidders and bids were solicited via the internet. Work should start later this year and the estimated completion date is November 2022.


Solid dredging outlook with backlog at $559 million, and potential infrastructure spending creates tailwind.  The Boston award is incremental to current low bids pending award/options total ~$562 million, including $90 million added in January …

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.