Movers and SHAKERS
Orion Group Holdings (ORN)
Low Bid Awarded and Limited Work Disruptions
Orion Group Holdings, based in Houston, Texas, is a specialty construction company within the Marine and Industrial Construction sectors, with operations focused in the continental United States and Caribbean. Revenue is split roughly 50/50 between a Marine Construction segment that provides marine facility, pipeline and structural construction services and a Commercial Concrete segment that provides turnkey concrete services in the light commercial and structural construction markets.
Poe Fratt, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Low apparent bid on Galveston work awarded. As expected, the low apparent bid of $15.8 million on dredging work in the Galveston Harbor and Channel discussed in a mid-August research note turned into a final award. The project involves base dredging of 3.42 million CY of material for $11.3 million, and option dredging of 1.65 million CY of material for $4.5 million.
Investigation on tragic Corpus Christi accident under way. No impact on work with US Army Corp of Engineers (USACE). In August, the Waymon L. Boyd dredger sank in the Port of Corpus Christi after puncturing an energy pipeline and catching fire. Four crew members perished and others were injured. We offer our condolences to families of crew members who perished and hope that the injured crew members ...
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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.