Russell Investments Group Ltd. Purchases 886,291 Shares of Orion Group Holdings (ORN)
Russell Investments Group Ltd. raised its position in Orion Group Holdings (NYSE:ORN) by 55.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,493,123 shares of the construction company’s stock after buying an additional 886,291 shares during the quarter. Russell Investments Group Ltd. owned about 0.09% of Orion Group worth $16,430,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. SG Americas Securities LLC acquired a new position in shares of Orion Group during the 4th quarter worth $188,000. Trexquant Investment LP grew its stake in shares of Orion Group by 78.2% during the 1st quarter. Trexquant Investment LP now owns 28,339 shares of the construction company’s stock worth $187,000 after purchasing an additional 12,436 shares during the period. Mackay Shields LLC acquired a new position in shares of Orion Group during the 1st quarter worth $258,000. Wells Fargo & Company MN grew its stake in shares of Orion Group by 27.7% during the 4th quarter. Wells Fargo & Company MN now owns 41,205 shares of the construction company’s stock worth $323,000 after purchasing an additional 8,934 shares during the period. Finally, Arizona State Retirement System grew its stake in shares of Orion Group by 223.9% during the 4th quarter. Arizona State Retirement System now owns 47,397 shares of the construction company’s stock worth $371,000 after purchasing an additional 32,762 shares during the period. 90.86% of the stock is currently owned by institutional investors.
In related news, insider Mark R. Stauffer sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 30th. The shares were sold at an average price of $8.00, for a total value of $80,000.00. Following the sale, the insider now directly owns 463,221 shares in the company, valued at approximately $3,705,768. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 7.60% of the stock is owned by insiders.
Orion Group (NYSE:ORN) last released its quarterly earnings data on Thursday, May 3rd. The construction company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.04. Orion Group had a net margin of 1.09% and a negative return on equity of 1.01%. The business had revenue of $136.84 million for the quarter, compared to analyst estimates of $140.71 million. sell-side analysts predict that Orion Group Holdings will post 0.2 earnings per share for the current year.
A number of research firms have recently weighed in on ORN. ValuEngine raised shares of Orion Group from a “sell” rating to a “hold” rating in a research note on Saturday, May 26th. Zacks Investment Research cut shares of Orion Group from a “hold” rating to a “sell” rating in a research note on Wednesday, April 11th. Noble Financial reaffirmed a “buy” rating on shares of Orion Group in a research note on Friday, March 9th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $9.00 price target on shares of Orion Group in a research note on Thursday, March 8th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $9.75.
About Orion Group
Orion Group Holdings, Inc operates as a specialty construction company in the building, industrial, and infrastructure sectors in the continental United States, Alaska, Canada, and the Caribbean Basin. It operates in two segments, Marine and Concrete. The company's marine construction services include construction, restoration, dredging, maintenance, and repair of marine transportation facilities and pipelines, bridges and causeways, and marine environmental structures.
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