Stephen Simpson, CFA
Long only, growth at reasonable price, value, research analyst

Great Lakes Dredge And Dock Needs To Execute On Upcoming Opportunities

I'm skeptical of businesses that struggle (or fail) to earn their cost of capital over a sustained period of time. That makes Great Lakes Dredge & Dock (NASDAQ:GLDD) a more challenging company for me. On one hand, I like the company's strong share in its core dredging operations, and I believe there will be significant port expansion projects in the years to come. Yet, even with over 100 years of experience, the company's wobbly cash flow, returns on capital, and book value growth doesn't give me a lot of confidence, and the company's quarterly reports have had a flair for the dramatic lately.

These shares have rallied a third since their lows of the fall, but I could...

Join Seeking Alpha PRO to read this archived article and 11,574 other archived articles
IDEA GENERATORXExclusive access to 10 PRO ideas every day
INVESTING IDEAS LIBRARYXExclusive access to PRO library of more than 15,000 ideas
SECTOR EXPERT NETWORKXExclusive access to all sector experts for direct consultation
PERFORMANCE TRACKINGXTrack performance of all PRO stock ideas
PROFESSIONAL TOOLSXProfessional Idea Filters to zero-in based on industry, market cap and more
"In just the first month of using PRO, I used it to generate two ideas which were actionable for me. As a result of these two positions, I have earned more than 20 times the annual subscription costs for PRO."Michael Yagemann, Greenbridge Capital
"I am pleasantly surprised with the scope of small and mid-cap coverage PRO offers. You can't find that any where else."Patrick Rice, Mainstay Capital Management
You may cancel at any time for any reason, and receive a prompt refund for membership on months paid and not used (max. 6 months). Details