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

Globeflex Capital L P boosted its stake in shares of Orion Group Holdings, Inc. (NYSE:ORN) by 481.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 71,310 shares of the construction company’s stock after buying an additional 59,036 shares during the period. Globeflex Capital L P owned 0.18% of Orion Group worth $777,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ORN. First Trust Advisors LP raised its holdings in shares of Orion Group by 0.6% during the 1st quarter. First Trust Advisors LP now owns 120,534 shares of the construction company’s stock worth $1,314,000 after acquiring an additional 697 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Orion Group by 27.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 378,732 shares of the construction company’s stock valued at $4,257,000 after purchasing an additional 80,735 shares during the period. Seros Financial LLC grew its holdings in shares of Orion Group by 4.1% in the first quarter. Seros Financial LLC now owns 168,704 shares of the construction company’s stock valued at $1,839,000 after purchasing an additional 6,570 shares during the period. Fifth Third Bancorp acquired a new stake in Orion Group during the first quarter worth about $52,000. Finally, Moran Wealth Management LLC acquired a new stake in Orion Group during the first quarter worth about $277,000. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Orion Group

In related news, Director Margaret M. Foran sold 20,000 shares of the 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 completion of the transaction, the director owned 137,541 shares of the company’s stock, valued at approximately $2,010,849.42. This trade represents a 12.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have sold 40,695 shares of company stock valued at $606,512. Corporate insiders own 5.70% of the company’s stock.

Orion Group Stock Down 2.0%

Shares of ORN opened at $13.12 on Thursday. The firm has a market cap of $531.30 million, a P/E ratio of 62.50 and a beta of 1.34. Orion Group Holdings, Inc. has a 12-month low of $6.44 and a 12-month high of $17.40. The company’s 50-day moving average price is $14.50 and its 200 day moving average price is $13.00. The company has a current ratio of 1.41, a quick ratio of 1.40 and a debt-to-equity ratio of 0.43.

Orion Group (NYSE:ORN) last announced its earnings results on Wednesday, April 29th. The construction company reported $0.05 earnings per share 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 during the quarter, compared to analyst estimates of $198.12 million. On average, sell-side analysts forecast that Orion Group Holdings, Inc. will post 0.26 earnings per share for the current year.

Analysts Set New Price Targets

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

Orion Group 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.