Walthausen & Co. LLC lifted its stake in Orion Group Holdings Inc (NYSE:ORN) by 91.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 336,800 shares of the construction company’s stock after acquiring an additional 161,240 shares during the quarter. Walthausen & Co. LLC owned 1.16% of Orion Group worth $1,445,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of ORN. Ancora Advisors LLC increased its stake in shares of Orion Group by 43.6% in the fourth quarter. Ancora Advisors LLC now owns 225,444 shares of the construction company’s stock worth $967,000 after buying an additional 68,462 shares during the last quarter. Municipal Employees Retirement System of Michigan bought a new stake in Orion Group during the fourth quarter valued at $382,000. Bank of America Corp DE increased its stake in Orion Group by 168.1% during the fourth quarter. Bank of America Corp DE now owns 30,430 shares of the construction company’s stock valued at $130,000 after purchasing an additional 19,081 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Orion Group by 5.1% during the fourth quarter. Geode Capital Management LLC now owns 259,829 shares of the construction company’s stock valued at $1,114,000 after acquiring an additional 12,679 shares during the period. Finally, Magnus Financial Group LLC acquired a new stake in Orion Group in the fourth quarter worth about $74,000. Hedge funds and other institutional investors own 94.32% of the company’s stock.
ORN has been the subject of several research analyst reports. B. Riley reduced their price objective on shares of Orion Group from $7.00 to $4.00 and set a “neutral” rating for the company in a report on Friday, March 29th. Zacks Investment Research raised shares of Orion Group from a “hold” rating to a “buy” rating and set a $4.75 price target for the company in a report on Wednesday, January 2nd. Finally, TheStreet downgraded shares of Orion Group from a “c-” rating to a “d” rating in a report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $6.69.
Orion Group (NYSE:ORN) last issued its earnings results on Tuesday, March 26th. The construction company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.18). The business had revenue of $99.21 million during the quarter, compared to analyst estimates of $149.20 million. Orion Group had a negative net margin of 18.13% and a negative return on equity of 5.74%. On average, research analysts forecast that Orion Group Holdings Inc will post -0.11 earnings per share for the current fiscal year.
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Orion Group Profile
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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