Bank of New York Mellon Corp Buys Shares of 153,549 Orion Group Holdings, Inc. $ORN

Key Points

• Bank of New York Mellon acquired 153,549 Orion Group shares worth approximately $2.58 million, while institutional investors collectively own 70.25% of the company.
• Analyst sentiment remains mixed but leans positive: six analysts rate Orion Group a Buy and two rate it a Sell, producing a “Moderate Buy” consensus and an average price target of $16.33.
• Insiders purchased 28,000 shares worth $270,820 over the past 90 days. Meanwhile, Orion’s latest quarterly results missed expectations, with EPS of $0.02 versus the $0.06 consensus and revenue of $221.88 million versus $225.72 million expected.

Bank of New York Mellon Corp bought a new position in shares of Orion Group Holdings, Inc. (NYSE:ORN - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 153,549 shares of the company's stock, valued at approximately $2,583,000. Bank of New York Mellon Corp owned approximately 0.38% of Orion Group at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. First Trust Advisors LP lifted its stake in shares of Orion Group by 0.6% in the 1st quarter. First Trust Advisors LP now owns 120,534 shares of the company's stock valued at $1,314,000 after purchasing an additional 697 shares during the period. Barclays PLC raised its holdings in Orion Group by 1.0% in the fourth quarter. Barclays PLC now owns 89,908 shares of the company's stock worth $894,000 after purchasing an additional 888 shares in the last quarter. Deutsche Bank AG lifted its position in Orion Group by 5.7% during the fourth quarter. Deutsche Bank AG now owns 33,690 shares of the company's stock valued at $335,000 after buying an additional 1,802 shares during the period. Empowered Funds LLC boosted its holdings in shares of Orion Group by 1.9% during the 1st quarter. Empowered Funds LLC now owns 119,720 shares of the company's stock valued at $626,000 after buying an additional 2,220 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of Orion Group by 6.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 50,060 shares of the company's stock worth $416,000 after buying an additional 2,888 shares during the period. 70.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on ORN shares. Oppenheimer decreased their price target on shares of Orion Group from $20.00 to $15.00 and set an "outperform" rating for the company in a research note on Thursday, July 30th. JPMorgan Chase & Co. raised their target price on shares of Orion Group from $16.00 to $19.00 and gave the company an "overweight" rating in a research note on Friday, May 15th. Zacks Research lowered shares of Orion Group from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 4th. Wall Street Zen downgraded Orion Group from a "strong-buy" rating to a "hold" rating in a report on Saturday, August 1st. Finally, Roth Capital set a $15.00 price target on Orion Group in a report on Thursday, July 30th. Six analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $16.33.

Insider Activity

In related news, EVP Edward Earle acquired 5,000 shares of the stock in a transaction dated Friday, July 31st. The shares were purchased at an average cost of $9.81 per share, with a total value of $49,050.00. Following the transaction, the executive vice president directly owned 150,042 shares in the company, valued at approximately $1,471,912.02. This represents a 3.45% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert Ledford acquired 20,000 shares of the stock in a transaction dated Friday, July 31st. The shares were bought at an average cost 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 in the company, valued at approximately $414,737.44. This represents a 86.54% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 28,000 shares of company stock valued at $270,820 in the last 90 days. Company insiders own 5.70% of the company's stock.

Orion Group Price Performance

ORN opened at $9.28 on Tuesday. The company has a quick ratio of 1.51, a current ratio of 1.52 and a debt-to-equity ratio of 0.62. Orion Group Holdings, Inc. has a twelve month low of $7.18 and a twelve month high of $17.40. The stock has a market capitalization of $375.75 million, a price-to-earnings ratio of 103.12 and a beta of 1.39. The firm has a 50 day moving average price of $11.34 and a 200-day moving average price of $12.50.

Orion Group (NYSE:ORN - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.04). Orion Group had a return on equity of 3.07% and a net margin of 0.40%.The firm had revenue of $221.88 million during the quarter, compared to analysts' expectations of $225.72 million. Equities research analysts forecast that Orion Group Holdings, Inc. will post 0.12 earnings per share for the current year.

About Orion Group

Orion Group Holdings, Inc is a specialty construction company that provides marine and concrete construction services in the United States. The company serves public- and private-sector customers through its operating subsidiaries and focuses on complex infrastructure and building projects.

Orion's marine construction activities include the development, repair and maintenance of ports, harbors, waterways, bridges, piers, bulkheads and other marine infrastructure. Its capabilities also include dredging, heavy civil construction and other work related to coastal and maritime facilities.

Through its concrete construction operations, Orion provides services for commercial, industrial, residential and infrastructure projects.

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