OMERS ADMINISTRATION Corp purchased a new stake in Ormat Technologies, Inc. (NYSE:ORA) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 8,200 shares of the energy company’s stock, valued at approximately $468,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in Ormat Technologies during the fourth quarter worth approximately $20,143,000. Navellier & Associates Inc increased its position in Ormat Technologies by 2.3% in the first quarter. Navellier & Associates Inc now owns 8,090 shares of the energy company’s stock worth $462,000 after buying an additional 180 shares during the period. IFP Advisors Inc acquired a new position in Ormat Technologies during the first quarter worth approximately $154,000. Old Mutual Global Investors UK Ltd. increased its position in Ormat Technologies by 378.5% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 29,617 shares of the energy company’s stock worth $1,690,000 after buying an additional 23,427 shares during the period. Finally, Russell Investments Group Ltd. acquired a new position in Ormat Technologies during the fourth quarter worth approximately $128,000. 45.78% of the stock is currently owned by institutional investors.
Ormat Technologies, Inc. (ORA) opened at 60.73 on Friday. Ormat Technologies, Inc. has a 12-month low of $41.12 and a 12-month high of $61.49. The stock’s 50 day moving average is $58.76 and its 200 day moving average is $55.83. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of 30.64 and a beta of 1.19.
Ormat Technologies (NYSE:ORA) last announced its quarterly earnings data on Monday, May 8th. The energy company reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.05. The business had revenue of $189.90 million during the quarter, compared to analyst estimates of $177.42 million. Ormat Technologies had a return on equity of 10.05% and a net margin of 14.26%. The company’s revenue was up 25.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.59 earnings per share. Equities research analysts forecast that Ormat Technologies, Inc. will post $2.32 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 31st. Stockholders of record on Monday, May 22nd were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date was Thursday, May 18th. Ormat Technologies’s dividend payout ratio (DPR) is presently 16.08%.
A number of analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Ormat Technologies from a “buy” rating to a “hold” rating in a report on Thursday, May 4th. Cowen and Company restated an “outperform” rating and issued a $67.00 price target on shares of Ormat Technologies in a report on Wednesday, April 12th. Oppenheimer Holdings, Inc. set a $65.00 price target on shares of Ormat Technologies and gave the company a “buy” rating in a report on Thursday, May 4th. Barclays PLC raised their price target on shares of Ormat Technologies from $43.00 to $54.00 and gave the company an “underweight” rating in a report on Monday, March 6th. Finally, J P Morgan Chase & Co upgraded shares of Ormat Technologies from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $65.00 to $71.00 in a research note on Wednesday, June 7th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $65.25.
In other news, Director Robert F. Clarke sold 15,000 shares of the business’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $56.97, for a total transaction of $854,550.00. Following the sale, the director now directly owns 7,500 shares of the company’s stock, valued at $427,275. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Shimon Hatzir sold 3,015 shares of the business’s stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $60.00, for a total value of $180,900.00. Following the sale, the vice president now directly owns 3,015 shares in the company, valued at $180,900. The disclosure for this sale can be found here. Insiders have sold 49,150 shares of company stock worth $2,855,153 over the last ninety days. 22.97% of the stock is owned by insiders.
About Ormat Technologies
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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