Geode Capital Management LLC Purchases 54,345 Shares of Orion Group Holdings, Inc. $ORN

Geode Capital Management LLC raised its holdings in shares of Orion Group Holdings, Inc. (NYSE:ORN) by 6.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 859,800 shares of the construction company’s stock after acquiring an additional 54,345 shares during the period. Geode Capital Management LLC owned about 2.16% of Orion Group worth $7,800,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ORN. First Horizon Advisors Inc. grew its holdings in shares of Orion Group by 171.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 4,487 shares of the construction company’s stock valued at $41,000 after purchasing an additional 2,832 shares during the last quarter. Quantbot Technologies LP grew its stake in shares of Orion Group by 66.5% during the first quarter. Quantbot Technologies LP now owns 14,483 shares of the construction company’s stock valued at $76,000 after buying an additional 5,785 shares during the last quarter. Walleye Capital LLC purchased a new position in shares of Orion Group in the first quarter worth about $79,000. SCS Capital Management LLC bought a new stake in shares of Orion Group in the 1st quarter valued at about $89,000. Finally, Martingale Asset Management L P purchased a new stake in Orion Group during the 1st quarter valued at about $97,000. 70.25% of the stock is currently owned by institutional investors.

Orion Group Price Performance

Shares of Orion Group stock opened at $10.26 on Friday. The business has a 50 day moving average of $9.34 and a 200 day moving average of $8.54. Orion Group Holdings, Inc. has a 52 week low of $4.64 and a 52 week high of $11.49. The company has a market cap of $409.41 million, a PE ratio of 44.61, a P/E/G ratio of 4.61 and a beta of 1.20. The company has a quick ratio of 1.35, a current ratio of 1.36 and a debt-to-equity ratio of 0.18.

Orion Group (NYSE:ORN) last issued its quarterly earnings data on Wednesday, September 20th. The construction company reported ($0.03) earnings per share (EPS) for the quarter. Orion Group had a net margin of 1.13% and a return on equity of 6.88%. The company had revenue of $194.58 million for the quarter. As a group, equities research analysts forecast that Orion Group Holdings, Inc. will post 0.06 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on ORN shares. Wall Street Zen cut Orion Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Zacks Research lowered shares of Orion Group from a “strong-buy” rating to a “hold” rating in a report on Friday, August 15th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Orion Group in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Orion Group currently has an average rating of “Moderate Buy” and an average price target of $11.25.

About Orion Group

Orion Group Holdings, Inc operates as a specialty construction company in the building, industrial, and infrastructure sectors in the United States, Alaska, Hawaii, Canada, and the Caribbean Basin. It operates in two segments, Marine and Concrete. The company provides marine construction services, including construction, restoration, dredging, maintenance, and repair of marine transportation facilities and pipelines, bridges and causeways, and marine environmental structures.