Great Lakes Dredge & Dock Corp (NASDAQ:GLDD)

CAPS Rating: 5 out of 5

The Company is the provider of dredging services in the United States.

Recs

1
Player Avatar Dynablob (21.95) Submitted: 3/5/2011 12:16:45 PM : Outperform Start Price: $7.78 GLDD Score: -29.09

Changes in legislation will require Harbor Maintenance Trust Fund to distribute surplus funds to pay for domestic dredging projects. Huge need for domestic dredging work because US ports are shallower than international counterparts (and not deep enough for the largest ships). Expanding the Panama Canal (complete 2014) will only further expand need for deepening of US ports. Federally protected industry means that there are few companies that can compete for these projects.

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