Orion Group Holdings, Inc. $ORN Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its stake in shares of Orion Group Holdings, Inc. (NYSE:ORN) by 27.1% in the 1st quarter, Holdings Channel reports. The institutional investor owned 378,732 shares of the construction company’s stock after acquiring an additional 80,735 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Orion Group were worth $4,257,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Quarry LP purchased a new stake in Orion Group in the third quarter valued at $33,000. Fifth Third Bancorp acquired a new stake in shares of Orion Group during the first quarter worth about $52,000. Comerica Bank lifted its holdings in shares of Orion Group by 219.7% in the 3rd quarter. Comerica Bank now owns 5,183 shares of the construction company’s stock valued at $43,000 after purchasing an additional 3,562 shares during the last quarter. OpenArc Corporate Advisory LLC purchased a new stake in shares of Orion Group in the 4th quarter valued at about $100,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Orion Group in the 3rd quarter valued at about $86,000. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Margaret M. Foran sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $14.62, for a total transaction of $292,400.00. Following the sale, the director owned 137,541 shares in the company, valued at approximately $2,010,849.42. This trade represents a 12.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 40,695 shares of company stock worth $606,512 over the last quarter. Corporate insiders own 5.70% of the company’s stock.

Orion Group Stock Performance

Orion Group stock opened at $12.66 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.40 and a current ratio of 1.41. The stock has a fifty day moving average of $14.40 and a two-hundred day moving average of $13.02. The company has a market capitalization of $512.68 million, a price-to-earnings ratio of 60.31 and a beta of 1.34. Orion Group Holdings, Inc. has a fifty-two week low of $6.44 and a fifty-two week high of $17.40.

Orion Group (NYSE:ORN) last issued its quarterly earnings data on Wednesday, April 29th. The construction company reported $0.05 earnings per share (EPS) for the quarter. The business had revenue of $216.30 million for the quarter, compared to the consensus estimate of $198.12 million. Orion Group had a return on equity of 4.44% and a net margin of 0.98%. On average, analysts anticipate that Orion Group Holdings, Inc. will post 0.26 EPS for the current fiscal year.

Analysts Set New Price Targets

ORN has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price target on Orion Group from $16.00 to $19.00 and gave the stock an “overweight” rating in a research note on Friday, May 15th. Oppenheimer initiated coverage on shares of Orion Group in a research note on Tuesday, July 7th. They set an “outperform” rating and a $20.00 price target for the company. Wall Street Zen raised shares of Orion Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 2nd. Weiss Ratings upgraded shares of Orion Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 4th. Finally, Zacks Research cut Orion Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $17.60.

Orion Group Company Profile

Orion Group (NYSE:ORN) is a global provider of specialized staffing and workforce solutions, serving clients across the energy, industrial, and technical sectors. The company offers a range of services including engineering and technical recruitment, information technology staffing, and comprehensive workforce management. Orion Group focuses on delivering qualified talent for complex projects, from exploration and production in the oil and gas industry to large-scale infrastructure and manufacturing initiatives.

Founded in 1972 and headquartered in Jacksonville, Florida, Orion Group has grown its operations to support projects in North America, Europe, the Middle East, and the Asia–Pacific region.