Globeflex Capital L P Increases Stock Holdings in Orion Group Holdings, Inc. $ORN

Globeflex Capital L P raised its position in Orion Group Holdings, Inc. (NYSE:ORN) by 481.0% in the 1st quarter, HoldingsChannel.com reports. The fund owned 71,310 shares of the construction company’s stock after acquiring an additional 59,036 shares during the quarter. Globeflex Capital L P’s holdings in Orion Group were worth $777,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Quarry LP purchased a new position in shares of Orion Group in the third quarter valued at approximately $33,000. Comerica Bank increased its stake in Orion Group by 219.7% during the 3rd quarter. Comerica Bank now owns 5,183 shares of the construction company’s stock worth $43,000 after buying an additional 3,562 shares during the period. Fifth Third Bancorp acquired a new stake in Orion Group during the 1st quarter worth approximately $52,000. Susquehanna Fundamental Investments LLC acquired a new stake in Orion Group during the 3rd quarter worth approximately $86,000. Finally, Millennium Management LLC purchased a new position in Orion Group in the 3rd quarter valued at approximately $91,000. Institutional investors and hedge funds own 70.25% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Activity at Orion Group

In related news, Director Margaret M. Foran sold 20,000 shares of the business’s stock in a transaction 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 completion of the transaction, the director owned 137,541 shares in the company, valued at approximately $2,010,849.42. The trade was a 12.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold a total of 40,695 shares of company stock worth $606,512 in the last three months. Insiders own 5.70% of the company’s stock.

Orion Group Stock Down 2.0%

Shares of Orion Group stock opened at $13.12 on Thursday. Orion Group Holdings, Inc. has a 52-week low of $6.44 and a 52-week high of $17.40. The company has a 50 day moving average of $14.50 and a 200 day moving average of $13.00. The company has a quick ratio of 1.40, a current ratio of 1.41 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $531.30 million, a P/E ratio of 62.50 and a beta of 1.34.

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

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.