Brokerages Set Orion Group Holdings, Inc. (ORN) PT at $8.83

Orion Group Holdings, Inc. (NYSE:ORN) has earned an average rating of “Hold” from the six research firms that are currently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $8.83.

Several research firms have recently weighed in on ORN. Zacks Investment Research upgraded shares of Orion Group Holdings from a “sell” rating to a “hold” rating in a report on Tuesday, May 16th. FBR & Co reiterated a “buy” rating and issued a $12.00 price target on shares of Orion Group Holdings in a report on Monday, May 15th. Finally, Canaccord Genuity reiterated a “hold” rating on shares of Orion Group Holdings in a report on Monday, May 15th.

Orion Group Holdings (NYSE:ORN) traded down 3.64% during trading on Tuesday, reaching $7.14. 122,905 shares of the company were exchanged. The firm has a 50-day moving average of $7.51 and a 200-day moving average of $8.82. The firm’s market cap is $198.43 million. Orion Group Holdings has a 52-week low of $4.80 and a 52-week high of $11.11.

Orion Group Holdings (NYSE:ORN) last released its quarterly earnings results on Thursday, May 4th. The construction company reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by $0.02. The company had revenue of $138.80 million during the quarter, compared to analyst estimates of $126.97 million. Orion Group Holdings had a negative net margin of 0.72% and a positive return on equity of 2.03%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.04) EPS. On average, equities analysts forecast that Orion Group Holdings will post $0.33 EPS for the current year.

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In related news, COO Larry Dwayne Breaux sold 3,500 shares of the stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $7.21, for a total transaction of $25,235.00. Following the completion of the transaction, the chief operating officer now owns 142,123 shares in the company, valued at $1,024,706.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Christopher James Dealmeida sold 6,289 shares of the stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $7.51, for a total transaction of $47,230.39. Following the transaction, the chief financial officer now owns 33,325 shares of the company’s stock, valued at approximately $250,270.75. The disclosure for this sale can be found here. Insiders have sold 44,214 shares of company stock valued at $342,675 in the last 90 days. 6.17% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in ORN. Trexquant Investment LP acquired a new position in shares of Orion Group Holdings during the fourth quarter valued at approximately $105,000. Arizona State Retirement System boosted its position in shares of Orion Group Holdings by 1.4% in the first quarter. Arizona State Retirement System now owns 14,435 shares of the construction company’s stock valued at $108,000 after buying an additional 200 shares during the last quarter. LS Investment Advisors LLC boosted its position in shares of Orion Group Holdings by 1,915.0% in the first quarter. LS Investment Advisors LLC now owns 18,719 shares of the construction company’s stock valued at $140,000 after buying an additional 17,790 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Orion Group Holdings by 6.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 14,840 shares of the construction company’s stock valued at $148,000 after buying an additional 860 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its position in shares of Orion Group Holdings by 14.4% in the first quarter. Metropolitan Life Insurance Co. NY now owns 20,560 shares of the construction company’s stock valued at $154,000 after buying an additional 2,583 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

About Orion Group Holdings

Orion Group Holdings, Inc, formerly Orion Marine Group, Inc, is engaged in heavy civil construction project management business. The Company specializes in marine construction. It provides a range of heavy civil marine construction services to federal agencies, state and municipal governments, and private commercial and industrial customers.

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