Connor Clark & Lunn Investment Management Ltd. Makes New $3.49 Million Investment in Orion Group Holdings, Inc. $ORN

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Orion Group Holdings, Inc. (NYSE:ORN) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 207,396 shares of the construction company’s stock, valued at approximately $3,488,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. First Trust Advisors LP lifted its position 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 purchasing an additional 697 shares during the last quarter. Barclays PLC grew its stake in shares of Orion Group by 1.0% during the fourth quarter. Barclays PLC now owns 89,908 shares of the construction company’s stock worth $894,000 after purchasing an additional 888 shares in the last quarter. Deutsche Bank AG grew its stake in shares of Orion Group by 5.7% during the fourth quarter. Deutsche Bank AG now owns 33,690 shares of the construction company’s stock worth $335,000 after purchasing an additional 1,802 shares in the last quarter. Empowered Funds LLC increased its holdings in Orion Group by 1.9% in the first quarter. Empowered Funds LLC now owns 119,720 shares of the construction company’s stock valued at $626,000 after buying an additional 2,220 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in Orion Group by 6.1% in the third quarter. Envestnet Asset Management Inc. now owns 50,060 shares of the construction company’s stock valued at $416,000 after buying an additional 2,888 shares during the last quarter. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Orion Group

In other news, Director Mary E. Sullivan acquired 3,000 shares of the firm’s stock in a transaction dated Friday, July 31st. The stock was acquired at an average cost of $9.79 per share, with a total value of $29,370.00. Following the completion of the acquisition, the director owned 277,904 shares of the company’s stock, valued at $2,720,680.16. The trade was a 1.09% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Ledford bought 20,000 shares of the stock in a transaction dated Friday, July 31st. The shares were acquired at an average price of $9.62 per share, for a total transaction of $192,400.00. Following the completion of the transaction, the director owned 43,112 shares of the company’s stock, valued at approximately $414,737.44. The trade was a 86.54% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders bought 28,000 shares of company stock worth $270,820. 5.70% of the stock is owned by insiders.

Orion Group Stock Performance

Shares of ORN stock opened at $9.23 on Friday. The stock’s 50-day moving average is $12.17 and its two-hundred day moving average is $12.71. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.51 and a current ratio of 1.52. Orion Group Holdings, Inc. has a 1 year low of $7.08 and a 1 year high of $17.40. The firm has a market cap of $373.72 million, a price-to-earnings ratio of 102.57 and a beta of 1.40.

Orion Group (NYSE:ORN) last posted its earnings results on Wednesday, July 29th. The construction company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.04). The firm had revenue of $221.88 million during the quarter, compared to analysts’ expectations of $225.72 million. Orion Group had a net margin of 0.40% and a return on equity of 3.07%. Analysts predict that Orion Group Holdings, Inc. will post 0.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Weiss Ratings downgraded Orion Group from a “hold (c)” rating to a “sell (d+)” rating in a report on Thursday, July 30th. 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. Wall Street Zen cut Orion Group from a “strong-buy” rating to a “hold” rating in a research note on Saturday, August 1st. Oppenheimer started coverage on Orion Group in a report on Tuesday, July 7th. They issued an “outperform” rating and a $20.00 price target for the company. Finally, Roth Capital set a $15.00 price target on shares of Orion Group in a research note on Thursday, July 30th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $17.20.

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.