Thursday, September 30, 2021

Great Lakes Dredge & Dock (GLDD)
3Q2021 Awards Exceed $300 million After Three New Awards

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.

Attractive award of $25.6 million posted late yesterday. The $25.6 million award for maintenance dredging of Portsmouth Harbor and Piscataqua River was posted on the DoD web site after the market closed yesterday. Work should start later this year and be completed in 1Q2022. The award is positive and there could be some added efficiencies since GLDD is currently working in the Boston Harbor.


Second award of $11.3 million posted earlier this week.  According to the government contracting web site, the Coastal Storm Risk Management Project in South Hutchinson Island, Florida was awarded to GLDD for $11.3 million. The work includes constructing a beach berm and planting dune vegetation to limit erosion …

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.