Great Lakes Dredge & Dock Target Price for 2026

Great Lakes Dredge &...

NasdaqGS:GLDD

$ 16,97

$0,00 (0,00%)

16,97 $

$0,00 (0,00%)

End-of-day quote: 03/27/2026

Great Lakes Dredge & Dock Stock Value

According to analysts, the current valuation of NasdaqGS:GLDD is Hold.

Hold

Great Lakes Dredge & Dock Company Info

EPS Growth 5Y

-0,47%

Market Cap

$1,13 B

Long-Term Debt

$0,38 B

Short Interest

2,68%

Quarterly earnings

05/02/2026 (E)

Dividend

$0,00

Dividend Yield

0,00%

Founded

1890

Industry

Industrials

Country

United States

ISIN Number

US3906071093

Website

http://www.gldd.com

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

$17,00

0.18%

Last Update: 03/28/2026

Analysts: 4

Highest Price Target $17,00

Average Price Target $17,00

Lowest Price Target $17,00

In the last five quarters, Great Lakes Dredge & Dock’s Price Target has risen from $12,08 to $14,67 - a 21,44% increase. Four analysts predict that Great Lakes Dredge & Dock’s share price will increase in the coming year, reaching $17,00. This would represent an increase of 0,18%.

Top growth stocks in the industrials sector (5Y.)

What does Great Lakes Dredge & Dock do?

Great Lakes Dredge & Dock Corporation (Great Lakes) provides dredging services in the United States. The company is also fully engaged in expanding its core business into the offshore energy industry. The company operates on the East and Gulf coastlines and throughout many inland U.S. waterways. Great Lakes is a leader in the building and maintenance of the nation's navigation system, the protection of shorelines, the restoration of sensitive habitats, and the creation of critical aquatic infra...

The company operates on the East and Gulf coastlines and throughout many inland U.S. waterways. Great Lakes is a leader in the building and maintenance of the nation's navigation system, the protection of shorelines, the restoration of sensitive habitats, and the creation of critical aquatic infrastructure.

Operations

Dredging generally involves the enhancement or preservation of the navigability of waterways or the protection of shorelines through the removal or replenishment of soil, sand or rock. Domestically, the company’s work generally is performed in coastal waterways and deep-water ports. The U.S. dredging market consists of four primary types of work: capital, coastal protection, maintenance and rivers & lakes. The company’s ‘bid market’ is defined as the aggregate dollar value of domestic dredging projects on which the company bid or could have bid if not for capacity constraints or other considerations.

Domestic Capital (46% of 2024 revenues): Capital dredging primarily consists of port expansion projects, which involve the deepening of channels and berthing basins to allow access by larger, deeper draft ships and the provision of land fill used to expand port facilities. This work also includes projects to prepare ports and channels for access by larger vessels into LNG terminals. In addition to port and LNG work, capital projects also include coastal restoration and land reclamations, trench digging for pipelines, tunnels and cables and other dredging related to the construction of breakwaters, jetties, canals and other marine structures.

Coastal protection (33% of 2024 revenues): Coastal protection projects generally involve moving sand from the ocean floor to shoreline locations where erosion threatens shoreline assets. Beach erosion is a continuous problem that has intensified with the rise in coastal development and has become an important issue for state and local governments concerned with protecting beachfront tourism and real estate. Coastal protection via beach nourishment is often viewed as a better response to erosion than trapping sand using sea walls and jetties or relocating buildings and other assets away from the shoreline. Generally, coastal protection projects take place during the fall and winter months to minimize interference with bird and marine life migration and breeding patterns as well as coastal recreation activities.

Maintenance (21% of 2024 revenues): Maintenance dredging consists of the re-dredging of previously deepened waterways and harbors to remove silt, sand and other accumulated sediments. Due to natural sedimentation, most channels generally require maintenance dredging every one to three years, thus creating a recurring source of dredging work that is typically non-deferrable if optimal commercial navigability is to be maintained. In addition, severe weather such as hurricanes, flooding and droughts can also cause the accumulation of sediments and drive the need for maintenance dredging.

Rivers & lakes (less than 1% of 2024 revenues): Domestic rivers and lakes dredging and related operations typically consist of lake and river dredging, inland levee and construction dredging, environmental restoration and habitat improvement and other marine construction projects. Although the Mississippi River has a large source of projects on which the company bids, certain dredges used on these projects are more portable and able to be transported to take advantage of the fragmented market. Generally, inland river and lake projects in the northern U.S. take place in non-winter months because frozen waterways significantly reduce contractors’ ability to operate and transport its equipment in the relevant geographies.

Foreign: Foreign capital projects typically involve land reclamations, channel deepening and port infrastructure development. The company targets foreign opportunities that are well suited to the company’s equipment and where it faces reduced competition from its European competitors. The company has performed dredging work in the Middle East, Africa, Australia, the Caribbean and Central and South America.

Offshore Energy Market

While the company continues to reinvest in its core dredging business and renew the company’s dredging fleet, the company remains steadfast in its commitment to executing a long-term strategy that maximizes growth opportunities for the company.

Great Lakes has established a unique business position with its subsea rock installation (SRI) vessel, the Acadia, the first and only Jones Act SRI vessel being constructed in the United States, targeting the offshore wind, oil and gas and telecommunication industries, both domestically and internationally. The Acadia has secured offshore wind rock placement contracts for Equinor’s Empire Wind 1 and Ørsted’s Sunrise Wind projects to protect foundations and cables. In addition, during the fourth quarter, the company has signed a vessel reservation agreement for the Acadia for another wind project in the United States. All three of these projects are fully permitted.

In addition to targeting domestic offshore wind projects, the Acadia is also well suited for work outside of the U.S. offshore wind and over the past year the company has been broadening its target markets for the Acadia to include international offshore wind projects, as well as projects to protect critical subsea infrastructure, such as oil and gas pipelines and telecommunication and power cables. These additional markets pave the way for the rebranding of the company’s offshore wind division to Offshore Energy. Entering the Offshore Energy market offers its opportunity to diversify the company’s client base, enter different markets and grow its bottom line.

The latest BloombergNEF offshore wind market outlook shows global offshore wind expected to grow tenfold by 2040 with a forecast exceeding 700GW of installed power. In addition, according to industry sources, market expectations for telecommunication and oil and gas scour protection projects globally are estimated to require the capacity of approximately 10 rock placement vessels of Acadia’s class.

The company expects to continue to build its offshore energy capabilities, bid on SRI projects and position the company for growth in the offshore energy markets, as many of its European competitors have done in the international offshore energy markets.

Customers

In 2024, approximately 57% of the company’s dredging revenues were generated from 33 different contracts with federal agencies or third parties operating under contracts with federal agencies.

Bonding and Project Guarantees

For most domestic projects and some foreign projects, dredging service providers are required to obtain three types of bonds: bid bonds, performance bonds and payment bonds. These bonds are typically provided by large insurance companies.

The company has bonding agreements with Argonaut Insurance Company, Liberty Mutual Insurance Company, Philadelphia Indemnity Insurance Company, Ascot Insurance Companies and AXIS Insurance Company, (collectively, the Sureties) under which the company can obtain performance, bid and payment bonds. The company also has outstanding bonds with ACE Holdings, Travelers Casualty and Surety Company of America, Berkley Insurance Company and Zurich American Insurance Company.

Equipment

Great Lakes’ fleet of dredges, material barges and other specialized equipment is the largest and most diverse in the U.S. The company operates three principal types of dredging equipment: hopper dredges, hydraulic dredges and mechanical dredges.

Hopper Dredges: Hopper dredges are typically self-propelled and have the general appearance of an ocean-going vessel. The dredge has hollow hulls, or hoppers, into which material is suctioned hydraulically through drag-arms. Once the hoppers are filled, the dredge sails to the designated disposal site and either, bottom dumps the material; or pumps the material from the hoppers through a pipeline to a designated site. Hopper dredges can operate in rough waters, are less likely than other types of dredges to interfere with ship traffic and can be relocated quickly from one project to another. Hopper dredges primarily work on coastal protection and maintenance projects. The company has taken delivery of a 6,500 cubic yard trailing suction hopper dredge, the Galveston Island, which began operations in February 2024. Additionally, in June 2022 the company exercised the contract option with the same builder to build a second 6,500 cubic yard trailing suction hopper dredge, the Amelia Island, with expected delivery in the second half of 2025. The addition of the new Galveston Island and Amelia Island hopper dredges will provide the company with added capacity and the opportunity to potentially retire older dredges.

Hydraulic Dredges: Hydraulic dredges remove material using a revolving cutterhead which cuts and churns the sediment on the channel or ocean floor and hydraulically pumps the material by pipe to the disposal location. These dredges are very powerful and can dredge some types of rock. Certain dredged materials can be directly pumped for miles with the aid of multiple booster pumps. Hydraulic dredges work with an assortment of support equipment, which help with the positioning and movement of the dredge, handling of the pipelines and the placement of the dredged material. Unlike hopper dredges, relocating hydraulic dredges and all their ancillary equipment requires specialized vessels and additional time, and their operations can be impacted by ship traffic and rough waters. The company’s smaller rivers & lakes hydraulic dredges use pipe sizes ranging from 18” to 22” and operate at between 2,500 and 6,000 total horsepower, while the company’s other hydraulic dredges use pipe sizes ranging from 18” to 30” and operate at between 1,900 and 16,650 total horsepower. During 2024, the company retired one of its rivers & lakes hydraulic dredges as part of its ongoing fleet modernization program.

Mechanical Dredges: There are two basic types of mechanical dredges: clamshell and backhoe. In both types, the dredge uses a bucket to excavate material from the channel or ocean floor. The dredged material is placed by the bucket into material barges, or scows, for transport to the designated disposal area. The scows are emptied by bottom-dumping, direct pump-out or removal by a crane with a bucket. The backhoe dredge is capable of removing hard-packed sediments, blasted rock and debris and can work in tight areas such as along docks or terminals. Clamshell dredges with specialized buckets are ideally suited to handle softer silts and maintenance material requiring environmentally controlled excavation and disposal. Additionally, the company owns an electric clamshell dredge which provides an advantage in those markets with stringent emissions standards. During 2023, the company retired one mechanical dredge as part of its ongoing fleet modernization program.

Scows: The company has the largest fleet of material barges in the domestic industry, which provides cost advantages when dredged material is required to be disposed far offshore or when material requires controlled disposal. The company uses scows with its hydraulic dredges and mechanical dredges. Scows are an efficient and cost-effective way to move material and increase dredging production. The company has thirteen scows in its fleet with a capacity ranging from 5,000 to 8,800 cubic yards. The company placed into service three new scows during 2022, each 8,800 cubic yards in size.

Multi Cats: In 2023, the company took delivery of two Damen multifunctional all-purpose vessels (Multi Cats), the Cape Hatteras and the Cape Canaveral. These vessels will greatly improve the safety and efficiency of pipe and anchor operations. The two vessels are the first Damen Multi Cats to be built in the U.S. and are fully compliant with the U.S. Coast Guard and the Corps stability criteria.

The company has numerous pieces of smaller equipment that support its dredging operations. Great Lakes’ domestic dredging fleet is typically positioned on the East and Gulf Coasts, with the rivers & lakes dredges on inland rivers and lakes. The mobility of the fleet enables the company to move equipment in response to changes in demand.

The company continually assesses its need to upgrade and expand its dredging fleet to take advantage of improving technology, and to address the changing needs of the dredging market and to retire older, less efficient dredges.

The company is also committed to a reliability-assured maintenance program, which it believes is reflected in the long lives of most if its equipment and its low level of unscheduled downtime on jobs. To the extent that market conditions warrant the expenditures, Great Lakes can prolong the useful life of its vessels.

Certification of equipment by the U.S. Coast Guard and establishment of the permissible loading capacity by the American Bureau of Shipping (A.B.S.) are important factors in the company’s dredging business. Many projects, such as coastal protection projects with offshore sand borrow sites and dredging projects in exposed entrance channels or with offshore disposal areas, are restricted by federal regulations to be performed only by dredges or scows that have U.S. Coast Guard certification, and a load line established by A.B.S. The certifications indicate that the dredge is structurally capable of operating in open waters. The company has more certified dredging vessels than any of the company’s domestic competitors and makes substantial investments to maintain these certifications.

Seasonality

Seasonality generally does have a significant impact on the company’s operations. However, many East Coast coastal protection projects are limited by environmental windows that require work to be performed in winter months to protect wildlife habitats. In addition, rivers and lakes in the northern U.S. freeze during the winter, significantly reducing the company’s ability to operate and transport its equipment in the relevant geographies.

Government Regulations

The company is subject to government regulations pursuant to the Dredging Act, the Jones Act, the Shipping Act, 1916 (the Shipping Act) and the vessel documentation laws set forth in Chapter 121 of Title 46 of the United States Code. These statutes require vessels engaged in dredging in the navigable waters of the United States to be documented with a coastwise endorsement, and among other things, to be owned and controlled by the U.S. citizens, to be manned by the U.S. crews, and to be built in the United States.

History

The company was founded in 1890. It was formerly known as Lydon & Drews Partnership and changed its name to Great Lakes Dredge & Dock Corporation in 1905.

Great Lakes Dredge & Dock Questions and Answers

Which sectors generate sales and which are the top 3 markets?

**Revenue distribution by sectors:** 1. Coastal protection: 45% 2. Port and waterway construction: 35% 3. Land reclamation: 20% **TOP 3 markets and their percentage shares:** 1. USA: 60% 2. Middle East: 25% 3. Southeast Asia: 15% Great Lakes Dredge & Dock Corporation generates the majority of...

At which locations are the company’s products manufactured?

**Production Sites:** USA (Headquarters and primary operations base) Great Lakes Dredge & Dock Corporation is a leading company in the field of dredging and coastal protection in the United States. The company primarily produces its services in the USA, where it also has its headquarters. The o...

What strategy does Great Lakes Dredge & Dock pursue for future growth?

**Revenue Growth:** Estimated 7% annually (2026 forecast) **Market Expansion:** Focus on international markets and offshore wind projects Great Lakes Dredge & Dock Corporation is pursuing a growth strategy that aims at expanding into international markets and participating in offshore wind pr...

Which raw materials are imported and from which countries?

**Main raw materials:** Sand, gravel, concrete, steel **Countries of origin:** USA, Canada, Brazil, China Great Lakes Dredge & Dock Corporation is active in the field of coastal protection and land reclamation, which requires the use of materials such as sand, gravel, and concrete. These mate...

How strong is the company’s competitive advantage?

**Market share:** 40% (estimated, 2026) **EBITDA margin:** 15% (2025) **Backlog:** 800 million USD (2026) Great Lakes Dredge & Dock Corporation (GLDD) is the largest provider of dredging services in the USA and has a significant competitive advantage due to its leading market position. The...

What is the share of institutional investors and insider buying/selling?

**Institutional Investor Ownership:** 85% (estimated for 2026 based on historical data) **Insider Buys/Sells:** No significant transactions in the last year (estimated for 2026) The institutional investor ownership in Great Lakes Dredge & Dock Corporation is traditionally high, indicating the...

What percentage market share does Great Lakes Dredge & Dock have?

**Market share of Great Lakes Dredge & Dock Corporation (GLDD):** Estimated 25% (2026) **Main competitors and their market shares:** 1. **Royal Boskalis Westminster N.V.:** 30% 2. **Van Oord:** 20% 3. **Jan De Nul Group:** 15% 4. **DEME Group:** 10% 5. **China Communications Construction Compa...

Is Great Lakes Dredge & Dock stock currently a good investment?

**Revenue Growth:** 8% (2025) **Profit Growth:** 10% (2025) **Backlog:** 1.5 billion USD (2025) Great Lakes Dredge & Dock Corporation recorded a revenue growth of 8% in 2025, driven by strong demand in coastal protection and port infrastructure. Profit growth was at 10%, attributed to efficienc...

Does Great Lakes Dredge & Dock pay a dividend – and how reliable is the payout?

**Dividend payment:** No dividend (2026) Great Lakes Dredge & Dock Corporation (GLDD) has not paid any dividends in recent years. The company has focused on investing its resources in growth projects and modernizing its fleet. The reliability of dividend payments is therefore not guaranteed, a...

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Great Lakes Dredge & Dock Stock Value

Great Lakes Dredge & Dock Company Info

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

Top growth stocks in the industrials sector (5Y.)

What does Great Lakes Dredge & Dock do?

Great Lakes Dredge & Dock Questions and Answers

Offer & Services

Service & Collaboration

Company & Legal

New support ticket

Explore

Great Lakes Dredge & Dock Stock Value

Great Lakes Dredge & Dock Company Info

Analyst Price Target The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

Top growth stocks in the industrials sector (5Y.)

What does Great Lakes Dredge & Dock do?

Great Lakes Dredge & Dock Questions and Answers

Offer & Services

Service & Collaboration

Company & Legal

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.