The channel was deepened to 45 ft and made 530 ft wide through Galveston Bay, and environmental restoration projects were constructed with dredged material. Its previous expansion project lasted from 1968 to 2005. The Houston Ship Channel first opened in 1914. The Great Lakes Dredge & Dock contract follows the company's move of its corporate headquarters from the Chicago area to Houston in October 2020. AECOM says the entire project is expected to finish by the end of 2025. “Retrofitting our equipment demonstrates our commitment to Port of Houston and supports our goal of reducing our overall environmental impact as we strive to leave the areas we work in a better state than when we started,” Simonelli said.ĭredging on the first phase of work is scheduled to start in early 2022 and finish within the year. David Simonelli, the contractor’s COO, said in a statement that the company is investing $4.5 million to cut emissions from its cutter suction dredge and booster station by upgrading their engineering and installing selective catalytic reduction systems, which treat engine exhaust. The port says it chose the approach with the most reduction in overall nitrogen oxide emissions when it selected Great Lakes Dredge & Dock. You’ll receive a US$30 Amazon Gift card for 1 hour of your time while helping us build better investing tools for the individual investors like yourself.The project will also include additional environmental initiatives, including construction of five bird islands totaling 20 acres in Galveston Bay, the addition of 376 acres of oyster reef pads and three new marshes built totaling as much as 800 acres.Įnvironmental concerns played a role in picking Great Lakes Dredge & Dock for this contract. Simply Wall St has no position in any stocks mentioned. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. We aim to bring you long-term focused analysis driven by fundamental data. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. This article by Simply Wall St is general in nature. Alternatively, email editorial-team (at). Have feedback on this article? Concerned about the content? Get in touch with us directly. We currently account for open market transactions and private dispositions, but not derivative transactions.
Great lakes dredge free#
So you may wish to see this free collection of high quality companies.įor the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. Of course Great Lakes Dredge & Dock may not be the best stock to buy. Every company has risks, and we've spotted 2 warning signs for Great Lakes Dredge & Dock you should know about. So while it's helpful to know what insiders are doing in terms of buying or selling, it's also helpful to know the risks that a particular company is facing. Insiders likely see value in Great Lakes Dredge & Dock shares, given these transactions (along with notable insider ownership of the company). We also take confidence from the longer term picture of insider transactions. It's certainly positive to see the recent insider purchase. Story continues So What Does This Data Suggest About Great Lakes Dredge & Dock Insiders? Lasse Petterson was the only individual insider to buy shares in the last twelve months. The good news for Great Lakes Dredge & Dock share holders is that an insider was buying at near the current price. While we always like to see insider buying, it's less meaningful if the purchases were made at much lower prices, as the opportunity they saw may have passed. While their view may have changed since the purchase was made, this does at least suggest they have had confidence in the company's future. That means that an insider was happy to buy shares at around the current price of US$9.99. Over the last year, we can see that the biggest insider purchase was by CEO, President & Director Lasse Petterson for US$97k worth of shares, at about US$9.65 per share. See our latest analysis for Great Lakes Dredge & Dock The Last 12 Months Of Insider Transactions At Great Lakes Dredge & Dock While insider transactions are not the most important thing when it comes to long-term investing, we would consider it foolish to ignore insider transactions altogether. That is, insiders bought more stock than they sold. Insiders were net buyers of Great Lakes Dredge & Dock Corporation's ( NASDAQ:GLDD ) stock during the past year.
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