BlackRock Inc. Buys 270,967 Shares of Orion Group Holdings, Inc. $ORN

BlackRock Inc. boosted its holdings in shares of Orion Group Holdings, Inc. (NYSE:ORN - Free Report) by 9.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,008,011 shares of the company's stock after acquiring an additional 270,967 shares during the period. BlackRock Inc. owned approximately 7.43% of Orion Group worth $50,595,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Wasatch Advisors LP acquired a new position in Orion Group in the second quarter valued at approximately $12,885,000. Invesco Ltd. increased its stake in shares of Orion Group by 79.4% in the 3rd quarter. Invesco Ltd. now owns 1,271,358 shares of the company's stock valued at $10,578,000 after acquiring an additional 562,863 shares in the last quarter. Simcoe Capital LLC acquired a new position in shares of Orion Group during the 4th quarter valued at $4,509,000. JPMorgan Chase & Co. lifted its position in shares of Orion Group by 727.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 283,236 shares of the company's stock valued at $2,569,000 after acquiring an additional 248,988 shares during the period. Finally, Sei Investments Co. boosted its stake in Orion Group by 102.8% during the first quarter. Sei Investments Co. now owns 386,663 shares of the company's stock worth $4,215,000 after acquiring an additional 196,041 shares in the last quarter. 87.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Roth Capital set a $15.00 price target on shares of Orion Group in a research note on Thursday, July 30th. Wall Street Zen lowered Orion Group from a "strong-buy" rating to a "hold" rating in a research report on Saturday, August 1st. Weiss Ratings downgraded shares of Orion Group from a "hold (c)" rating to a "sell (d+)" rating in a research report on Thursday, July 30th. JPMorgan Chase & Co. upped their price objective 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. Finally, Oppenheimer decreased their target price on shares of Orion Group from $20.00 to $15.00 and set an "outperform" rating for the company in a research report on Thursday, July 30th. Six investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $16.33.

View Our Latest Report on Orion Group

Insider Activity at Orion Group

In other Orion Group news, Director Robert Ledford bought 20,000 shares of the stock in a transaction on Friday, July 31st. The shares were acquired at an average price of $9.62 per share, with a total value of $192,400.00. Following the acquisition, the director directly owned 43,112 shares of the company's stock, valued at $414,737.44. The trade was a 86.54% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Edward Earle acquired 5,000 shares of the company's stock in a transaction that occurred on Friday, July 31st. The shares were bought at an average cost of $9.81 per share, for a total transaction of $49,050.00. Following the acquisition, the executive vice president directly owned 150,042 shares in the company, valued at $1,471,912.02. This represents a 3.45% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have bought 28,000 shares of company stock worth $270,820. Company insiders own 5.70% of the company's stock.

Orion Group Price Performance

NYSE ORN remained flat at $9.08 on Thursday. The company had a trading volume of 181,001 shares, compared to its average volume of 427,133. The company has a quick ratio of 1.51, a current ratio of 1.52 and a debt-to-equity ratio of 0.62. The business has a 50-day moving average price of $11.77 and a two-hundred day moving average price of $12.60. 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 $367.69 million, a PE ratio of 100.90 and a beta of 1.39.

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

Orion Group Profile

(Free Report)

 

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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