Wasatch Advisors LP Decreases Holdings in Orion Group Holdings, Inc. $ORN

Wasatch Advisors LP trimmed its holdings in shares of Orion Group Holdings, Inc. (NYSE:ORN) by 26.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,656,834 shares of the construction company’s stock after selling 610,873 shares during the period. Wasatch Advisors LP owned about 4.12% of Orion Group worth $18,059,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Quarry LP purchased a new stake in Orion Group during the third quarter worth about $33,000. Comerica Bank boosted its stake in Orion Group by 219.7% in the third quarter. Comerica Bank now owns 5,183 shares of the construction company’s stock valued at $43,000 after acquiring an additional 3,562 shares during the last quarter. OpenArc Corporate Advisory LLC purchased a new position in Orion Group in the fourth quarter valued at about $100,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Orion Group during the 3rd quarter valued at approximately $86,000. Finally, Millennium Management LLC bought a new position in shares of Orion Group during the 3rd quarter valued at approximately $91,000. 70.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Orion Group

In other news, Director Margaret M. Foran sold 20,000 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $14.62, for a total value of $292,400.00. Following the completion of the transaction, the director directly owned 137,541 shares of the company’s stock, valued at $2,010,849.42. This trade represents a 12.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 40,695 shares of company stock valued at $606,512 over the last three months. 5.70% of the stock is owned by company insiders.

Orion Group Stock Performance

NYSE ORN opened at $16.33 on Friday. The company’s 50 day moving average is $14.17 and its 200-day moving average is $12.52. Orion Group Holdings, Inc. has a 12-month low of $6.44 and a 12-month high of $16.57. 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 firm has a market cap of $661.20 million, a P/E ratio of 77.78 and a beta of 1.37.

Orion Group (NYSE:ORN) last released 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 during the quarter, compared to the consensus estimate of $198.12 million. Sell-side analysts predict that Orion Group Holdings, Inc. will post 0.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ORN shares. Weiss Ratings raised shares of Orion Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 4th. JPMorgan Chase & Co. increased their price objective on Orion Group from $16.00 to $19.00 and gave the company an “overweight” rating in a report on Friday, May 15th. Zacks Research raised Orion Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 4th. Wall Street Zen upgraded Orion Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 2nd. Finally, B. Riley Financial upped their price target on Orion Group from $15.50 to $17.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $17.00.

About Orion Group

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.