Great Lakes Dredge & Dock Corporation (GLDD)

Great Lakes Dredge & Dock Corp. amended its Revolving Credit Facility, increasing its capacity by $100 million to $430 million and extending the maturity to October 2030, using the increased capacity to fully repay $100 million in second lien notes issued in 2024. Insider trading activity shows that GLDD insiders have sold shares three times, with no reported purchases. Institutional investor activity in Q2 2025 saw 103 institutional investors adding GLDD shares to their portfolios, while 84 decreased their positions. The company's stock price declined by 11.06% between October 21, 2024, and October 17, 2025, and earlier in 2025, a rally in late 2024 ended abruptly due to mixed earnings and concerns about future government spending.

Demand for Great Lakes Dredge & Dock Corp.'s products and services can be influenced by seasonality and other external factors, such as weather-related interruptions. The company's operations are also significantly tied to government funding and project awards. GLDD anticipated a robust bid market in the second and third quarters of 2024, supported by a record budget for the U.S. Army Corps of Engineers for fiscal year 2024. The company's backlog is an indicator of future demand.

Great Lakes Dredge & Dock Corp. operates in the heavy construction sector, specializing in dredging and land reclamation. The company offers construction services such as capital dredging, coastal protection, maintenance dredging, channel deepening, land reclamation, and port infrastructure development. GLDD also engages in trench digging, environmental restoration, and habitat improvement projects, and is expanding into the offshore energy industry with services like subsea rock installation. They operate a fleet of approximately 200 specialized vessels.

GLDD primarily operates within the United States, with approximately 25% of its operations conducted internationally, particularly in the Middle East, Africa, Australia, the Caribbean, and Central and South America. The company's headquarters are in Houston, Texas, with regional offices in New York City and Houston, and marine yards in five U.S. locations.

Great Lakes Dredge & Dock Corp. emphasizes its commitment to ethical business practices and prioritizes environmental, safety, social, and governance (ESG) standards. The company highlights their Incident-and Injury-Free® (IIF®) safety management program. In November 2023, the U.S. Environmental Protection Agency (EPA) announced a settlement with GLDD for alleged violations of the Marine Protection, Research, and Sanctuaries Act (Ocean Dumping Act). GLDD has also been upgrading its vessels to reduce nitrogen oxide and particulate emissions and is building new vessels designed to meet high environmental classifications.

Great Lakes Dredge & Dock Corp. has a mixed ownership structure comprising institutional, individual, and public investors. Institutional investors hold a significant portion of the company's stock, with 395 institutions holding a total of 64,796,757 shares. Madison Dearborn Capital Partners IV LP is identified as the largest individual Great Lakes Dredge & Dock shareholder, owning 26.61 million shares, which represents 39.13% of the company. Individual insiders own approximately 2.28% of the shares, while the general public holds about 14.9%.