Algert Global LLC lifted its stake in Orion Group Holdings Inc (NYSE:ORN) by 18.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 232,021 shares of the construction company’s stock after purchasing an additional 35,805 shares during the period. Algert Global LLC’s holdings in Orion Group were worth $1,752,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. Renaissance Technologies LLC increased its stake 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. increased its stake in shares of Orion Group by 24.7% in the 3rd quarter. Bridgeway Capital Management Inc. now owns 390,044 shares of the construction company’s stock worth $2,945,000 after purchasing an additional 77,200 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Orion Group in the 3rd quarter worth $498,000. Dimensional Fund Advisors LP increased its stake in shares of 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 worth $18,288,000 after purchasing an additional 71,779 shares in the last quarter. Finally, Panagora Asset Management Inc. increased its stake in shares of Orion Group by 52.2% in the 3rd quarter. Panagora Asset Management Inc. now owns 167,904 shares of the construction company’s stock worth $1,268,000 after purchasing an additional 57,602 shares in the last quarter. Hedge funds and other institutional investors own 88.50% of the company’s stock.
In other Orion Group news, Director Austin J. Shanfelter sold 4,606 shares of the stock in a transaction 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 completion of the sale, the director now owns 33,292 shares in the company, valued at approximately $268,999.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 7.60% of the company’s stock.
Shares of ORN stock opened at $4.22 on Friday. Orion Group Holdings Inc has a 52-week low of $4.11 and a 52-week high of $9.83. The company has a quick ratio of 1.55, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $123.11 million, a price-to-earnings ratio of -29.64 and a beta of 1.48.
Orion Group (NYSE:ORN) last issued its quarterly earnings results on Thursday, November 1st. The construction company reported ($0.22) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.02. Orion Group had a return on equity of 0.38% and a net margin of 1.63%. The business had revenue of $125.07 million during the quarter, compared to analyst estimates of $140.40 million. Analysts expect that Orion Group Holdings Inc will post -0.25 EPS for the current year.
Several research firms have recently commented on ORN. ValuEngine lowered Orion Group from a “buy” rating to a “hold” rating in a research note on Wednesday, September 12th. Canaccord Genuity reduced their price objective on Orion Group from $10.00 to $8.00 and set a “hold” rating for the company in a research note on Friday, October 19th. Finally, B. Riley restated a “neutral” rating and issued a $7.00 price objective (down from $11.00) on shares of Orion Group in a research note on Friday, October 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $8.63.
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About Orion Group
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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