American International Group Inc. lowered its stake in Orion Group Holdings, Inc. (NYSE:ORN) by 16.5% during the first quarter, Holdings Channel reports. The fund owned 16,585 shares of the construction company’s stock after selling 3,268 shares during the period. American International Group Inc.’s holdings in Orion Group Holdings were worth $124,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp increased its position in shares of Orion Group Holdings by 6.4% in the fourth quarter. State Street Corp now owns 602,629 shares of the construction company’s stock valued at $5,997,000 after buying an additional 36,355 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Orion Group Holdings by 14.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,568,388 shares of the construction company’s stock worth $15,606,000 after buying an additional 194,336 shares in the last quarter. Metropolitan Life Insurance Co. NY acquired a new position in shares of Orion Group Holdings during the fourth quarter worth about $179,000. Thrivent Financial for Lutherans increased its position in shares of Orion Group Holdings by 6.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 14,840 shares of the construction company’s stock worth $148,000 after buying an additional 860 shares in the last quarter. Finally, Bank of Montreal Can increased its position in shares of Orion Group Holdings by 379.3% in the first quarter. Bank of Montreal Can now owns 26,332 shares of the construction company’s stock worth $197,000 after buying an additional 20,838 shares in the last quarter. 90.44% of the stock is currently owned by hedge funds and other institutional investors.

Orion Group Holdings, Inc. (NYSE:ORN) opened at 6.29 on Tuesday. The firm’s market capitalization is $174.81 million. Orion Group Holdings, Inc. has a 52 week low of $5.59 and a 52 week high of $11.11. The stock has a 50 day moving average price of $7.27 and a 200-day moving average price of $8.18.

Orion Group Holdings (NYSE:ORN) last posted its earnings results on Thursday, August 3rd. The construction company reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by $0.16. The business had revenue of $137.40 million during the quarter, compared to the consensus estimate of $161.68 million. Orion Group Holdings had a positive return on equity of 1.37% and a negative net margin of 0.98%. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.03) earnings per share. Analysts anticipate that Orion Group Holdings, Inc. will post $0.33 EPS for the current fiscal year.

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A number of brokerages have recently issued reports on ORN. Canaccord Genuity dropped their price objective on Orion Group Holdings from $9.00 to $7.00 and set a “hold” rating on the stock in a research note on Friday. FBR & Co reissued a “buy” rating and issued a $12.00 price objective on shares of Orion Group Holdings in a research note on Monday, May 15th. Finally, Zacks Investment Research raised Orion Group Holdings from a “sell” rating to a “hold” rating in a research note on Tuesday, May 16th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Orion Group Holdings currently has a consensus rating of “Hold” and an average price target of $8.30.

In related news, COO Larry Dwayne Breaux sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $7.21, for a total value of $25,235.00. Following the sale, the chief operating officer now directly owns 142,123 shares of the company’s stock, valued at $1,024,706.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Christopher James Dealmeida sold 6,289 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $7.51, for a total value of $47,230.39. Following the completion of the sale, the chief financial officer now directly owns 33,325 shares in the company, valued at $250,270.75. The disclosure for this sale can be found here. Insiders sold 44,214 shares of company stock worth $342,675 over the last three months. 8.00% of the stock is owned by insiders.

About Orion Group Holdings

Orion Group Holdings, Inc, formerly Orion Marine Group, Inc, is engaged in heavy civil construction project management business. The Company specializes in marine construction. It provides a range of heavy civil marine construction services to federal agencies, state and municipal governments, and private commercial and industrial customers.

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Institutional Ownership by Quarter for Orion Group Holdings (NYSE:ORN)

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