CenterBook Partners LP Acquires 179,050 Shares of Orion Group Holdings, Inc. $ORN

Key Points

• CenterBook Partners LP increased its stake in Orion Group Holdings by 33.1% in the fourth quarter, adding 179,050 shares to bring its total to 720,561 shares worth about $7.16 million.
• Wall Street sentiment on Orion Group is broadly positive, with several analysts raising ratings or price targets; the stock currently has a consensus Buy rating and a target price of $17.00.
• Insiders have been selling shares recently, including directors Quentin P. Jr. Smith and Margaret M. Foran, with insider sales totaling 141,390 shares over the last 90 days.

CenterBook Partners LP lifted its position in Orion Group Holdings, Inc. (NYSE:ORN - Free Report) by 33.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 720,561 shares of the construction company's stock after acquiring an additional 179,050 shares during the quarter. CenterBook Partners LP owned approximately 1.81% of Orion Group worth $7,162,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Quarry LP bought a new stake in shares of Orion Group in the 3rd quarter worth $33,000. Comerica Bank grew its stake in shares of Orion Group by 219.7% in the 3rd quarter. Comerica Bank now owns 5,183 shares of the construction company's stock worth $43,000 after acquiring an additional 3,562 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Orion Group in the 3rd quarter worth $86,000. Millennium Management LLC bought a new stake in shares of Orion Group in the 3rd quarter worth $91,000. Finally, Brevan Howard Capital Management LP bought a new stake in shares of Orion Group in the 3rd quarter worth $92,000. Institutional investors own 70.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Orion Group from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, May 4th. Wall Street Zen upgraded shares of Orion Group from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 2nd. B. Riley Financial boosted their price target on shares of Orion Group from $15.50 to $17.00 and gave the stock a "buy" rating in a report on Thursday, March 5th. Zacks Research raised shares of Orion Group from a "hold" rating to a "strong-buy" rating in a report on Monday, May 4th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Orion Group from $16.00 to $19.00 and gave the stock an "overweight" rating in a report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $17.00.

Insider Buying and Selling

In other Orion Group news, Director Quentin P. Jr. Smith sold 10,695 shares of the company's stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $12.25, for a total transaction of $131,013.75. Following the sale, the director directly owned 90,659 shares of the company's stock, valued at $1,110,572.75. This represents a 10.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Margaret M. Foran sold 20,000 shares of the company's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $14.62, for a total transaction of $292,400.00. Following the sale, the director directly owned 137,541 shares in the company, valued at approximately $2,010,849.42. This trade represents a 12.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 141,390 shares of company stock valued at $1,832,825. 5.70% of the stock is owned by insiders.

Orion Group Price Performance

Shares of NYSE:ORN opened at $13.61 on Monday. The company's 50-day moving average is $13.04 and its 200 day moving average is $11.97. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.40 and a current ratio of 1.41. The company has a market capitalization of $550.93 million, a P/E ratio of 64.81 and a beta of 1.37. Orion Group Holdings, Inc. has a fifty-two week low of $6.44 and a fifty-two week high of $15.85.

Orion Group (NYSE:ORN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The construction company reported $0.05 earnings per share for the quarter. The company had revenue of $216.30 million for the quarter, compared to the consensus estimate of $198.13 million. Orion Group had a net margin of 0.98% and a return on equity of 4.44%. On average, equities research analysts forecast that Orion Group Holdings, Inc. will post 0.23 earnings per share for the current year.

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.

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