Movers and SHAKERS
Orion Group Holdings (ORN)
Total Awards of $44 million Reinforce 2022 Outlook
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.
Five Concrete awards total ~$28 million. Three awards represent work near Dallas, including a data center expansion for $3.8 million, construction of two residential buildings for $4.3 million, and construction of a cold storage facility for $5.6 million. Work should start in 1Q2022 with completion by yearend 2022. Two awards are located in Houston, including construction of a tilt-wall warehouse for $5.1 million and construction of a mixed-use building for $9.2 million. Work should start in 1Q2022 and finish in 1Q2023.
Three Marine awards total ~$16 million. The largest Marine award includes dredging in Freeport Harbor for $7.1 million that should start and finish in 1H2022. The other awards include pipeline removal work of $4.1 million in Texas and installation of a bulkhead wall for $5.2 million in Florida, with completion of both projects in 2Q2022 ...
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*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.