Orion Group Holdings, Inc. $ORN Shares Acquired by Invesco Ltd.

Key Points

• Invesco Ltd. increased its stake in Orion Group Holdings by 6.1%, now holding approximately 1.88% of the company, valued at around $3.9 million.
• Other hedge funds have also significantly boosted their holdings, with Ancora Advisors increasing their position by 76.1% and Nuveen Asset Management by 104.8%.
• After several analyst rating changes, Orion Group currently has a consensus rating of "Moderate Buy" with an average price target of $11.25.

Invesco Ltd. lifted its position in Orion Group Holdings, Inc. (NYSE:ORN - Free Report) by 6.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 742,770 shares of the construction company's stock after purchasing an additional 42,392 shares during the quarter. Invesco Ltd. owned about 1.88% of Orion Group worth $3,885,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of ORN. Lazard Asset Management LLC purchased a new position in shares of Orion Group in the fourth quarter worth about $41,000. CWM LLC raised its holdings in shares of Orion Group by 303.5% during the first quarter. CWM LLC now owns 8,579 shares of the construction company's stock worth $45,000 after purchasing an additional 6,453 shares during the last quarter. Heck Capital Advisors LLC purchased a new position in shares of Orion Group during the fourth quarter worth $49,000. Quarry LP purchased a new position in shares of Orion Group during the fourth quarter worth $52,000. Finally, Petros Family Wealth LLC purchased a new position in shares of Orion Group during the first quarter worth $68,000. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Orion Group Stock Down 2.3%

ORN stock traded down $0.18 during mid-day trading on Friday, reaching $7.44. The company had a trading volume of 666,629 shares, compared to its average volume of 431,659. The firm has a fifty day simple moving average of $8.04 and a 200 day simple moving average of $7.33. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.37 and a current ratio of 1.38. The company has a market capitalization of $295.75 million, a price-to-earnings ratio of 27.56, a price-to-earnings-growth ratio of 14.80 and a beta of 1.03. Orion Group Holdings, Inc. has a fifty-two week low of $4.64 and a fifty-two week high of $9.95.

Analyst Ratings Changes

A number of research analysts have weighed in on ORN shares. Zacks Research cut shares of Orion Group from a "strong-buy" rating to a "hold" rating in a report on Friday, August 15th. B. Riley reaffirmed a "buy" rating and issued a $11.50 price objective (up previously from $9.00) on shares of Orion Group in a report on Tuesday, June 10th. Finally, Wall Street Zen cut shares of Orion Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $11.25.

About Orion Group

Orion Group Holdings, Inc operates as a specialty construction company in the building, industrial, and infrastructure sectors in the United States, Alaska, Hawaii, Canada, and the Caribbean Basin. It operates in two segments, Marine and Concrete. The company provides marine construction services, including construction, restoration, dredging, maintenance, and repair of marine transportation facilities and pipelines, bridges and causeways, and marine environmental structures.