Ormat Technologies, Inc. (ORA) Shares Bought by Russell Investments Group Ltd.
Russell Investments Group Ltd. raised its position in Ormat Technologies, Inc. (NYSE:ORA) by 135.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 42,225 shares of the energy company’s stock after buying an additional 24,320 shares during the period. Russell Investments Group Ltd. owned 0.08% of Ormat Technologies worth $2,478,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of ORA. Creative Planning boosted its position in Ormat Technologies by 43.9% in the first quarter. Creative Planning now owns 1,874 shares of the energy company’s stock worth $107,000 after buying an additional 572 shares during the last quarter. US Bancorp DE boosted its position in Ormat Technologies by 33.6% in the first quarter. US Bancorp DE now owns 2,169 shares of the energy company’s stock worth $124,000 after buying an additional 545 shares during the last quarter. SG Americas Securities LLC boosted its position in Ormat Technologies by 16.6% in the first quarter. SG Americas Securities LLC now owns 2,285 shares of the energy company’s stock worth $130,000 after buying an additional 326 shares during the last quarter. Quantbot Technologies LP boosted its position in Ormat Technologies by 89.3% in the first quarter. Quantbot Technologies LP now owns 2,334 shares of the energy company’s stock worth $133,000 after buying an additional 1,101 shares during the last quarter. Finally, IFP Advisors Inc acquired a new position in Ormat Technologies during the first quarter worth approximately $154,000. Institutional investors and hedge funds own 46.42% of the company’s stock.
Shares of Ormat Technologies, Inc. (NYSE:ORA) traded down 0.12% during midday trading on Friday, hitting $57.37. The stock had a trading volume of 129,579 shares. The stock’s 50-day moving average price is $57.52 and its 200 day moving average price is $57.93. Ormat Technologies, Inc. has a 52 week low of $45.30 and a 52 week high of $61.49. The company has a market cap of $2.86 billion, a price-to-earnings ratio of 26.17 and a beta of 1.20.
Ormat Technologies (NYSE:ORA) last released its earnings results on Thursday, August 3rd. The energy company reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.03. Ormat Technologies had a net margin of 15.36% and a return on equity of 10.25%. The firm had revenue of $179.36 million during the quarter, compared to the consensus estimate of $169.80 million. During the same period in the prior year, the firm earned $0.49 EPS. The company’s revenue was up 12.2% compared to the same quarter last year. On average, equities analysts forecast that Ormat Technologies, Inc. will post $2.29 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 29th. Investors of record on Tuesday, August 15th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.56%. The ex-dividend date was Friday, August 11th. Ormat Technologies’s dividend payout ratio (DPR) is presently 14.61%.
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A number of research firms recently commented on ORA. Zacks Investment Research cut Ormat Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Barclays PLC upgraded Ormat Technologies from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $54.00 to $59.00 in a report on Friday, May 26th. TheStreet cut Ormat Technologies from a “b” rating to a “c+” rating in a report on Monday, August 14th. BidaskClub upgraded Ormat Technologies from a “hold” rating to a “buy” rating in a report on Saturday, June 10th. Finally, Cowen and Company set a $67.00 price target on Ormat Technologies and gave the stock a “buy” rating in a report on Monday, July 17th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $65.38.
In other Ormat Technologies news, Director Gillon Beck sold 37,500 shares of the stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $57.00, for a total value of $2,137,500.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Nir Wolf sold 3,010 shares of the stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $59.10, for a total transaction of $177,891.00. Following the completion of the sale, the vice president now owns 3,010 shares in the company, valued at $177,891. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,062,154 shares of company stock valued at $630,605,768. 22.97% of the stock is owned by insiders.
Ormat Technologies Company Profile
Ormat Technologies, Inc is engaged in the geothermal and recovered energy power business. The Company designs, develops, builds, owns and operates geothermal and recovered energy-based power plants. Its equipment manufacturing operations are located in Israel. It conducts its business activities in two business segments: Electricity segment and Product segment.
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