GLDD - Great Lakes Dredge & Dock: Another Look At This Infrastructure Play
2024-06-27 12:22:43 ET
Summary
- Today, we take another look at the largest dredging outfit in North America, Great Lakes Dredge & Dock, headquartered in Houston, TX.
- The company is benefiting from all the funding provided by congress in recent years for infrastructure projects.
- The stock has moved up some 30% since the company handily beat both top and bottom-line expectations with its first quarter numbers.
- Where do the shares go from here? An updated analysis follows in the paragraphs below.
It has been almost a year since our last article on the largest dredging outfit in North America (33% market share), Great Lakes Dredge & Dock ( GLDD ). The stock and shareholders of this infrastructure concern have had a wild ride over the past 12 months, but the equity has moved sharply higher since the company posted much better than expected first quarter results. Can the rally continue? An updated analysis follows below....
Great Lakes Dredge & Dock: Another Look At This Infrastructure Play