Putnam Investments LLC acquired a new stake in shares of Orion Group Holdings Inc (NYSE:ORN) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 150,226 shares of the construction company’s stock, valued at approximately $1,134,000. Putnam Investments LLC owned 0.52% of Orion Group as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC bought a new position in shares of Orion Group in the 2nd quarter worth $150,000. ClariVest Asset Management LLC acquired a new position in Orion Group during the 3rd quarter valued at about $216,000. Alambic Investment Management L.P. acquired a new position in Orion Group during the 2nd quarter valued at about $314,000. First Trust Advisors LP acquired a new position in Orion Group during the 3rd quarter valued at about $331,000. Finally, Schwab Charles Investment Management Inc. increased its position in Orion Group by 16.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 58,739 shares of the construction company’s stock valued at $486,000 after buying an additional 8,139 shares in the last quarter. Institutional investors and hedge funds own 88.39% of the company’s stock.
Shares of ORN stock opened at $5.18 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.55 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $137.88 million, a PE ratio of -37.00 and a beta of 1.25. Orion Group Holdings Inc has a fifty-two week low of $4.04 and a fifty-two week high of $9.83.
Orion Group (NYSE:ORN) last announced its quarterly earnings data on Thursday, November 1st. The construction company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.02. The business had revenue of $125.07 million for the quarter, compared to analyst estimates of $140.40 million. Orion Group had a return on equity of 0.38% and a net margin of 1.63%. Research analysts anticipate that Orion Group Holdings Inc will post -0.25 EPS for the current year.
Several research analysts recently issued reports on ORN shares. Canaccord Genuity reduced their target price on Orion Group from $10.00 to $8.00 and set a “hold” rating on the stock in a research report on Friday, October 19th. B. Riley reaffirmed a “neutral” rating and set a $7.00 target price (down from $11.00) on shares of Orion Group in a research report on Friday, October 19th. ValuEngine raised Orion Group from a “sell” rating to a “hold” rating in a research report on Saturday, December 15th. Finally, Zacks Investment Research raised Orion Group from a “hold” rating to a “buy” rating and set a $4.75 target price on the stock in a research report on Wednesday, January 2nd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $7.44.
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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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