Wellington Management Group LLP Reduces Stock Position in Orion Group Holdings, Inc. (NYSE:ORN)

Wellington Management Group LLP lowered its stake in Orion Group Holdings, Inc. (NYSE:ORN - Free Report) by 14.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 343,400 shares of the construction company's stock after selling 58,300 shares during the quarter. Wellington Management Group LLP owned 0.88% of Orion Group worth $2,517,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Corebridge Financial Inc. boosted its holdings in Orion Group by 8.4% in the fourth quarter. Corebridge Financial Inc. now owns 18,043 shares of the construction company's stock worth $132,000 after purchasing an additional 1,396 shares during the last quarter. Rhumbline Advisers boosted its holdings in Orion Group by 6.5% in the fourth quarter. Rhumbline Advisers now owns 36,138 shares of the construction company's stock worth $265,000 after purchasing an additional 2,198 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Orion Group by 4.9% in the fourth quarter. Bank of New York Mellon Corp now owns 73,664 shares of the construction company's stock worth $540,000 after purchasing an additional 3,432 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Orion Group by 20.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,474 shares of the construction company's stock worth $150,000 after purchasing an additional 3,528 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in Orion Group by 16.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 26,928 shares of the construction company's stock worth $197,000 after purchasing an additional 3,728 shares during the last quarter. Hedge funds and other institutional investors own 70.25% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Orion Group from a "hold" rating to a "buy" rating in a report on Friday, April 18th. B. Riley raised shares of Orion Group from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, March 18th.

Orion Group Trading Up 1.6%

Shares of ORN stock opened at $8.66 on Friday. Orion Group Holdings, Inc. has a 1 year low of $4.64 and a 1 year high of $12.12. The firm has a fifty day moving average price of $6.96 and a 200-day moving average price of $7.27. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.35 and a quick ratio of 1.33. The company has a market cap of $342.50 million, a price-to-earnings ratio of -21.65, a PEG ratio of 1.10 and a beta of 0.91.

Orion Group (NYSE:ORN - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The construction company reported $0.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.11) by $0.12. Orion Group had a negative net margin of 1.63% and a negative return on equity of 0.71%. The firm had revenue of $188.65 million during the quarter, compared to the consensus estimate of $177.33 million. As a group, equities analysts predict that Orion Group Holdings, Inc. will post 0.06 earnings per share for the current year.

Insider Activity

In related news, Director Austin J. Shanfelter sold 30,000 shares of the company's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $8.67, for a total value of $260,100.00. Following the completion of the transaction, the director now owns 419,215 shares of the company's stock, valued at approximately $3,634,594.05. This represents a 6.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 5.90% of the company's stock.

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.

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