California State Teachers Retirement System Decreases Position in Ormat Technologies, Inc. (ORA)

California State Teachers Retirement System cut its stake in Ormat Technologies, Inc. (NYSE:ORA) by 9.7% in the third quarter, HoldingsChannel.com reports. The fund owned 63,505 shares of the energy company’s stock after selling 6,787 shares during the period. California State Teachers Retirement System’s holdings in Ormat Technologies were worth $3,877,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Ormat Technologies by 4.4% in the second quarter. Vanguard Group Inc. now owns 3,366,355 shares of the energy company’s stock valued at $197,538,000 after acquiring an additional 142,724 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Ormat Technologies by 6.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,526,801 shares of the energy company’s stock valued at $89,594,000 after acquiring an additional 96,288 shares during the period. Renaissance Technologies LLC lifted its holdings in Ormat Technologies by 17.8% in the second quarter. Renaissance Technologies LLC now owns 1,085,257 shares of the energy company’s stock valued at $63,683,000 after acquiring an additional 164,100 shares during the period. State Street Corp lifted its holdings in Ormat Technologies by 7.5% in the second quarter. State Street Corp now owns 778,621 shares of the energy company’s stock valued at $45,685,000 after acquiring an additional 54,489 shares during the period. Finally, Impax Asset Management LTD lifted its holdings in Ormat Technologies by 21.4% in the third quarter. Impax Asset Management LTD now owns 605,795 shares of the energy company’s stock valued at $36,984,000 after acquiring an additional 106,654 shares during the period. 46.34% of the stock is owned by institutional investors.

A number of research analysts have issued reports on the company. Zacks Investment Research raised Ormat Technologies from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a report on Wednesday. TheStreet raised Ormat Technologies from a “c+” rating to a “b-” rating in a report on Monday, November 13th. Roth Capital set a $70.00 price target on Ormat Technologies and gave the company a “buy” rating in a report on Monday, November 13th. Finally, Oppenheimer reissued a “buy” rating and issued a $70.00 price target (up from $65.00) on shares of Ormat Technologies in a report on Wednesday, September 27th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $68.43.

Shares of Ormat Technologies, Inc. (ORA) opened at $65.05 on Friday. The company has a market capitalization of $3,290.00, a P/E ratio of 27.92, a PEG ratio of 1.93 and a beta of 1.23. Ormat Technologies, Inc. has a 12-month low of $51.44 and a 12-month high of $66.46. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.72 and a quick ratio of 1.62.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings data on Tuesday, November 7th. The energy company reported $0.42 EPS for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.06). The business had revenue of $157.20 million during the quarter, compared to analysts’ expectations of $159.02 million. Ormat Technologies had a net margin of 16.99% and a return on equity of 9.41%. The firm’s quarterly revenue was down 14.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.56 earnings per share. sell-side analysts anticipate that Ormat Technologies, Inc. will post 2.21 EPS for the current fiscal year.

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Ormat Technologies 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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Institutional Ownership by Quarter for Ormat Technologies (NYSE:ORA)

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