- Great Lakes Dredge & Dock is a 138-year-old company specializing in coastal and harbor dredging, and coastal restoration. It is the largest US dredging company.
- If share prices break above $12 (currently at $11.12), the pattern will become a Spread Triple Top Breakout. This is an immensely powerful bullish trading signal.
- Funding for harbor and channel dredging and beach restoration seems very secure over the long term.
- Just as certain as the sunrises every morning, the movement of the seabed and erosion of beaches is a perpetual process which requires consistent attention.
Great Lakes Dredge & Dock (GLDD) is a small-cap infrastructure stock that is much akin to the theme song from the 1960s TV show “Rawhide.” Like the little ‘doggies’ on the cattle drive, Great Lake Dredge & Dock just keep rollin’ along. With extraordinarily few Wall Street followers, GLDD remains an unfound and value-priced stock, ripe to continue its bull run into 2021.
Great Lake Dredge & Dock is the oldest and largest dredging company in the US with substantial market share and limited competition. While a seemingly simple process of moving the seabed from one place to another, dredging is a complex and critical service. Usually separated into inland and ocean/coastal projects, GLDD specializes in ocean projects of harbor deepening, shipping channel maintenance, and coastal restoration. Just as certain as the sunrises every morning, the movement of the seabed and erosion of beaches is a perpetual process which requires consistent attention. GLDD benefits from the need to keep the natural movements of sand in check.
As an update to my Aug 2020 commentary titled, Great Lakes Dredge & Dock: The Ry-Cooder of Infrastructure Stocks, below is listed the most recent 9-mo 2020 revenues by project groupings from their recent press release and 3-yr average market share from their most recent investor presentation.
