Northern Trust Corp increased its position in shares of Ormat Technologies, Inc. (NYSE:ORA) by 3.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 501,933 shares of the energy company’s stock after acquiring an additional 16,822 shares during the period. Northern Trust Corp owned about 1.01% of Ormat Technologies worth $29,454,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. GSA Capital Partners LLP lifted its stake in Ormat Technologies by 383.5% during the 2nd quarter. GSA Capital Partners LLP now owns 19,191 shares of the energy company’s stock worth $1,126,000 after acquiring an additional 15,222 shares in the last quarter. Van ECK Associates Corp lifted its stake in Ormat Technologies by 16.0% during the 2nd quarter. Van ECK Associates Corp now owns 54,556 shares of the energy company’s stock worth $3,201,000 after acquiring an additional 7,519 shares in the last quarter. UBS Asset Management Americas Inc. lifted its stake in Ormat Technologies by 7.8% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 17,974 shares of the energy company’s stock worth $1,055,000 after acquiring an additional 1,303 shares in the last quarter. New York State Common Retirement Fund lifted its stake in Ormat Technologies by 52.6% during the 2nd quarter. New York State Common Retirement Fund now owns 84,852 shares of the energy company’s stock worth $4,979,000 after acquiring an additional 29,251 shares in the last quarter. Finally, Investec Asset Management LTD lifted its stake in Ormat Technologies by 35.6% during the 2nd quarter. Investec Asset Management LTD now owns 42,787 shares of the energy company’s stock worth $2,511,000 after acquiring an additional 11,233 shares in the last quarter. 46.41% of the stock is currently owned by hedge funds and other institutional investors.
In related news, VP Erez Klein sold 24,576 shares of the business’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $59.03, for a total value of $1,450,721.28. Following the transaction, the vice president now owns 23,890 shares in the company, valued at $1,410,226.70. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Isaac Angel sold 150,000 shares of the business’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $57.00, for a total value of $8,550,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,117,987 shares of company stock worth $633,935,753. 14.74% of the stock is currently owned by insiders.
ORA has been the topic of several research reports. Cowen and Company set a $67.00 target price on Ormat Technologies and gave the stock a “buy” rating in a research note on Friday, August 18th. BidaskClub downgraded Ormat Technologies from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. Zacks Investment Research upgraded Ormat Technologies from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a report on Thursday, October 5th. Oppenheimer Holdings, Inc. restated a “buy” rating and set a $70.00 price target (up previously from $65.00) on shares of Ormat Technologies in a report on Wednesday, September 27th. Finally, TheStreet downgraded Ormat Technologies from a “b” rating to a “c+” rating in a report on Monday, August 14th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $66.38.
Shares of Ormat Technologies, Inc. (NYSE ORA) opened at 64.86 on Thursday. Ormat Technologies, Inc. has a one year low of $45.30 and a one year high of $65.22. The firm’s 50-day moving average price is $59.54 and its 200 day moving average price is $58.54. The stock has a market cap of $3.24 billion, a P/E ratio of 29.59 and a beta of 1.22.
Ormat Technologies (NYSE:ORA) last issued its quarterly earnings data on Thursday, August 3rd. The energy company reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.03. The company had revenue of $179.36 million for the quarter, compared to analysts’ expectations of $169.80 million. Ormat Technologies had a return on equity of 10.25% and a net margin of 15.36%. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 earnings per share. Equities research analysts expect that Ormat Technologies, Inc. will post $2.29 EPS for the current fiscal year.
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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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