Great Lakes Dredge & Dock: 'Quality, Comfort, And Price... That's Nice'

George Fisher
5.62K Followers

Summary

  • Great Lakes Dredge & Dock offers a unique and essential service, is supported by strong US Corps of Engineers investments in its services, and is valued priced.
  • In early 2020, management laid out their corporate priorities, and they have been executing well on these 4 corporate goals.
  • Trading at a forward PE of 14, most investors should agree GLDD is not overly valued in a stock market filled with extremely high valuation alternatives.
  • Great Lakes Dredge & Dock is mainly a harbor, ocean-going waterways and passageways, and beach restoration firm with a 37% market share.

Dredger near Archachon in France

alainfinger/iStock via Getty Images

From 1994 to 2014, "Quality, Comfort, And Price…That's Nice" was the quintessentially New England commercial jingle, advertising Bernie and Phil's Furniture stores. In the NE Jingle Wars, this phrase dueled with its regional archrival Jorden's Furniture's "Everyday Underpricing", and interestingly Jorden's was purchased by Berkshire

This article was written by

5.62K Followers
I am the author of Guiding Mast Investments monthly newsletter, focused on timely dividend paying stocks. Our mission at Guiding Mast Investments is to help investors keep a steady pace of wealth accumulation as they navigate through their financial voyage.  I have been a Registered Investment Advisor, financial author, and entrepreneur. I bring a variety of expertise to my clients, from personal investment planning and management to stock market analysis skills. I am the creator of the late 1990s investment newsletter Power Investing with DRIPs focused on timely selections of dividend paying stocks. I have also published two books through McGraw Hill, All About DRIPs and DSPs (2001), and The StreetSmart Guide to Overlooked Stocks (2002). My work experience covers a variety of fields.Prior to being a RIA, I spent 15 years as a corporate manager at Georgia-Pacific Corp before venturing out on my own, operating several businesses from manufacturing to export marketing management. President Ronald Reagan appointed me to the National Advisory Council overseeing the Small Business Administration from 1988 to 1991. Now comes the obligatory disclaimers: The opinions and any recommendations expressed in this commentary are those of the author . None of the information or opinions expressed in this article constitutes a solicitation for the purchase or sale of any security or other instrument. Nothing in this commentary constitutes investment advice and any recommendations that may be contained herein have not been based upon a consideration of the investment objectives, financial situation or particular needs of any specific recipient. Any purchase or sale activity in any securities or other instrument should be based upon your own analysis and conclusions. Past performance is not indicative of future results. The information contained in this report does not purport to be a complete description of the securities market, or developments referred to in this material. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. Any information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation. Expressions of opinion are as of this date and subject to change without notice. Either Mr. Fisher or his employer, if any, may hold or control long or short positions in the securities or instruments mentioned.

Analyst’s Disclosure:I/we have a beneficial long position in the shares of GLDD, D, BRK.B either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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