Algert Global LLC lifted its stake in Orion Group Holdings Inc (NYSE:ORN) by 18.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 232,021 shares of the construction company’s stock after purchasing an additional 35,805 shares during the quarter. Algert Global LLC owned about 0.80% of Orion Group worth $1,752,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Renaissance Technologies LLC boosted its position in shares of Orion Group by 29.3% in the 3rd quarter. Renaissance Technologies LLC now owns 679,289 shares of the construction company’s stock worth $5,129,000 after purchasing an additional 154,074 shares in the last quarter. Bridgeway Capital Management Inc. lifted its position in Orion Group by 24.7% in the 3rd quarter. Bridgeway Capital Management Inc. now owns 390,044 shares of the construction company’s stock valued at $2,945,000 after acquiring an additional 77,200 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Orion Group in the 3rd quarter valued at approximately $498,000. Dimensional Fund Advisors LP lifted its position in Orion Group by 3.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,422,283 shares of the construction company’s stock valued at $18,288,000 after acquiring an additional 71,779 shares in the last quarter. Finally, Panagora Asset Management Inc. lifted its position in Orion Group by 52.2% in the 3rd quarter. Panagora Asset Management Inc. now owns 167,904 shares of the construction company’s stock valued at $1,268,000 after acquiring an additional 57,602 shares in the last quarter. 88.50% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently issued reports on ORN. ValuEngine cut Orion Group from a “buy” rating to a “hold” rating in a research report on Wednesday, September 12th. Canaccord Genuity lowered their price objective on Orion Group from $10.00 to $8.00 and set a “hold” rating on the stock in a research report on Friday, October 19th. Finally, B. Riley reaffirmed a “neutral” rating and issued a $7.00 price objective (down from $11.00) on shares of Orion Group in a research report on Friday, October 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Orion Group has a consensus rating of “Hold” and an average target price of $8.63.
ORN stock opened at $4.22 on Friday. The company has a market capitalization of $123.11 million, a P/E ratio of -29.64 and a beta of 1.48. Orion Group Holdings Inc has a 12-month low of $4.11 and a 12-month high of $9.83. The company has a current ratio of 1.59, a quick ratio of 1.55 and a debt-to-equity ratio of 0.24.
Orion Group (NYSE:ORN) last released its quarterly earnings data on Thursday, November 1st. The construction company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.02. The business had revenue of $125.07 million for the quarter, compared to analysts’ expectations of $140.40 million. Orion Group had a return on equity of 0.38% and a net margin of 1.63%. As a group, analysts forecast that Orion Group Holdings Inc will post -0.25 EPS for the current year.
In related news, Director Austin J. Shanfelter sold 4,606 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $8.08, for a total value of $37,216.48. Following the transaction, the director now directly owns 33,292 shares of the company’s stock, valued at approximately $268,999.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 7.60% of the company’s stock.
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Orion Group Company Profile
Orion Group Holdings, Inc operates as a specialty construction company in the building, industrial, and infrastructure sectors in the continental United States, Alaska, Canada, and the Caribbean Basin. It operates in two segments, Marine and Concrete. The company's marine construction services include construction, restoration, dredging, maintenance, and repair of marine transportation facilities and pipelines, bridges and causeways, and marine environmental structures.
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