Wasatch Advisors LP Buys 357,276 Shares of Orion Group Holdings, Inc. $ORN

Key Points

• Wasatch Advisors increased its Orion Group stake by 21.6% in the second quarter, buying 357,276 shares and bringing its holdings to 2.01 million shares, or 4.98% of the company. Institutional investors collectively own 70.25% of Orion Group.
• Company insiders purchased 28,000 shares worth approximately $270,820 over the past three months, including purchases by directors Robert Ledford and Mary E. Sullivan.
• Analyst sentiment is mixed, with five Buy ratings and two Sell ratings; the consensus rating is Hold and the average price target is $17.20. Orion’s latest quarterly results missed expectations, reporting $0.02 in EPS versus a $0.06 estimate and revenue of $221.88 million versus $225.72 million expected.

Wasatch Advisors LP grew its stake in shares of Orion Group Holdings, Inc. (NYSE:ORN - Free Report) by 21.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,014,110 shares of the construction company's stock after buying an additional 357,276 shares during the period. Wasatch Advisors LP owned 4.98% of Orion Group worth $33,877,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Brandes Investment Partners LP increased its holdings in Orion Group by 1.1% in the 4th quarter. Brandes Investment Partners LP now owns 5,010,193 shares of the construction company's stock worth $49,801,000 after acquiring an additional 56,663 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Orion Group by 0.3% during the third quarter. Vanguard Group Inc. now owns 2,024,885 shares of the construction company's stock valued at $16,847,000 after purchasing an additional 5,572 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Orion Group by 1.0% during the third quarter. Dimensional Fund Advisors LP now owns 1,684,977 shares of the construction company's stock valued at $14,019,000 after purchasing an additional 17,390 shares in the last quarter. Invesco Ltd. boosted its position in shares of Orion Group by 1.6% in the fourth quarter. Invesco Ltd. now owns 1,292,193 shares of the construction company's stock worth $12,844,000 after purchasing an additional 20,835 shares during the period. Finally, Gendell Jeffrey L boosted its position in shares of Orion Group by 6.5% in the fourth quarter. Gendell Jeffrey L now owns 1,104,300 shares of the construction company's stock worth $10,977,000 after purchasing an additional 67,123 shares during the period. 70.25% of the stock is currently owned by institutional investors.

Insider Activity at Orion Group

In other news, Director Robert Ledford bought 20,000 shares of the stock in a transaction dated Friday, July 31st. The stock was purchased at an average cost of $9.62 per share, for a total transaction of $192,400.00. Following the transaction, the director owned 43,112 shares of the company's stock, valued at $414,737.44. The trade was a 86.54% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mary E. Sullivan bought 3,000 shares of the business's stock in a transaction that occurred on 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. This represents a 1.09% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders bought 28,000 shares of company stock valued at $270,820. Insiders own 5.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Orion Group from $16.00 to $19.00 and gave the company an "overweight" rating in a research report on Friday, May 15th. Wall Street Zen downgraded shares of Orion Group from a "strong-buy" rating to a "hold" rating in a report on Saturday, August 1st. Oppenheimer initiated coverage on Orion Group in a research note on Tuesday, July 7th. They issued an "outperform" rating and a $20.00 price target for the company. Roth Capital set a $15.00 price target on Orion Group in a report on Thursday, July 30th. Finally, Weiss Ratings downgraded Orion Group from a "hold (c)" rating to a "sell (d+)" rating in a research report on Thursday, July 30th. Five equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Orion Group currently has an average rating of "Hold" and a consensus price target of $17.20.

Orion Group Stock Performance

Shares of NYSE ORN opened at $9.78 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.51 and a current ratio of 1.52. The company has a market cap of $396.07 million, a P/E ratio of 108.70 and a beta of 1.40. The firm's fifty day moving average is $13.46 and its two-hundred day moving average is $13.01. Orion Group Holdings, Inc. has a 52-week low of $6.44 and a 52-week high of $17.40.

Orion Group (NYSE:ORN - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The construction company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.04). The company had revenue of $221.88 million for the quarter, compared to the consensus estimate of $225.72 million. Orion Group had a net margin of 0.40% and a return on equity of 3.07%. As a group, analysts anticipate that Orion Group Holdings, Inc. will post 0.12 EPS for the current fiscal 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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