JB Capital Partners LP Makes New $2.19 Billion Investment in Orion Group Holdings, Inc. $ORN

JB Capital Partners LP bought a new position in shares of Orion Group Holdings, Inc. (NYSE:ORN) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 130,000 shares of the construction company’s stock, valued at approximately $2,186,600,000. JB Capital Partners LP owned approximately 0.32% of Orion Group at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ORN. Keating Financial Advisory Services Inc. acquired a new position in Orion Group during the 2nd quarter worth $107,000. BlackRock Inc. acquired a new stake in shares of Orion Group in the 2nd quarter valued at $50,595,000. Deutsche Bank AG bought a new stake in shares of Orion Group during the second quarter worth $616,000. Bank of New York Mellon Corp bought a new stake in shares of Orion Group during the second quarter worth $2,583,000. Finally, State of Wyoming acquired a new position in shares of Orion Group during the second quarter valued at $1,175,000. Institutional investors and hedge funds own 70.25% of the company’s stock.

Insider Buying and Selling

In other Orion Group news, Director Mary E. Sullivan purchased 3,000 shares of the stock in a transaction on Friday, July 31st. The shares were purchased at an average cost of $9.79 per share, for a total transaction of $29,370.00. Following the purchase, the director owned 277,904 shares of the company’s stock, valued at approximately $2,720,680.16. This represents a 1.09% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Ledford purchased 20,000 shares of the business’s stock in a transaction on Friday, July 31st. The shares were acquired at an average cost of $9.62 per share, for a total transaction of $192,400.00. Following the completion of the transaction, the director directly owned 43,112 shares in the company, valued at approximately $414,737.44. This represents a 86.54% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders acquired 28,000 shares of company stock worth $270,820. 5.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ORN shares. JPMorgan Chase & Co. raised their price target on Orion Group from $16.00 to $19.00 and gave the company an “overweight” rating in a report on Friday, May 15th. Zacks Research lowered shares of Orion Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 4th. Oppenheimer started coverage on shares of Orion Group in a research report on Tuesday, July 7th. They set an “outperform” rating and a $20.00 price target for the company. Wall Street Zen downgraded shares of Orion Group from a “strong-buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Roth Capital set a $15.00 price objective on shares of Orion Group in a report on Thursday, July 30th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $17.20.

Orion Group Stock Up 0.9%

Shares of Orion Group stock opened at $9.26 on Friday. The firm has a market cap of $374.98 million, a PE ratio of 102.90 and a beta of 1.40. The business’s 50 day simple moving average is $12.78 and its 200 day simple moving average is $12.85. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.51 and a current ratio of 1.52. Orion Group Holdings, Inc. has a 52-week low of $6.60 and a 52-week high of $17.40.

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