Harrington Investments INC Buys 200 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Harrington Investments INC boosted its stake in shares of Ormat Technologies, Inc. (NYSE:ORA – Get Rating) by 3.5% during the 4th quarter, HoldingsChannel reports. The fund owned 5,915 shares of the energy company’s stock after purchasing an additional 200 shares during the period. Harrington Investments INC’s holdings in Ormat Technologies were worth $512,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. US Bancorp DE boosted its position in shares of Ormat Technologies by 10.5% during the first quarter. US Bancorp DE now owns 3,963 shares of the energy company’s stock valued at $324,000 after buying an additional 375 shares during the period. AlphaCrest Capital Management LLC purchased a new stake in shares of Ormat Technologies in the first quarter valued at approximately $360,000. Bank of Montreal Can boosted its holdings in shares of Ormat Technologies by 2.5% in the first quarter. Bank of Montreal Can now owns 14,424 shares of the energy company’s stock valued at $1,150,000 after purchasing an additional 355 shares during the period. MetLife Investment Management LLC boosted its holdings in shares of Ormat Technologies by 57.7% in the first quarter. MetLife Investment Management LLC now owns 24,095 shares of the energy company’s stock valued at $1,972,000 after purchasing an additional 8,812 shares during the period. Finally, BlackRock Inc. boosted its holdings in shares of Ormat Technologies by 0.5% in the first quarter. BlackRock Inc. now owns 4,650,385 shares of the energy company’s stock valued at $380,541,000 after purchasing an additional 20,844 shares during the period. 81.74% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. UBS Group upgraded Ormat Technologies from a “neutral” rating to a “buy” rating and boosted their price target for the company from $103.00 to $105.00 in a report on Wednesday, March 1st. StockNews.com lowered Ormat Technologies from a “hold” rating to a “sell” rating in a report on Wednesday. Bank of America assumed coverage on Ormat Technologies in a report on Tuesday, November 22nd. They issued a “neutral” rating for the company. Oppenheimer lowered their target price on Ormat Technologies from $106.00 to $96.00 and set an “outperform” rating for the company in a report on Friday, February 24th. Finally, Roth Mkm lowered their target price on Ormat Technologies from $104.00 to $93.00 and set a “neutral” rating for the company in a report on Monday, February 27th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $92.83.

Ormat Technologies Stock Down 4.1 %

Shares of ORA stock traded down $3.45 during trading hours on Friday, reaching $80.39. 1,233,242 shares of the company’s stock were exchanged, compared to its average volume of 576,781. The stock’s 50 day moving average is $89.16 and its 200-day moving average is $89.94. The company has a market cap of $4.51 billion, a price-to-earnings ratio of 68.71, a P/E/G ratio of 4.67 and a beta of 0.48. The company has a current ratio of 1.33, a quick ratio of 1.26 and a debt-to-equity ratio of 0.80. Ormat Technologies, Inc. has a fifty-two week low of $67.28 and a fifty-two week high of $101.81.

Ormat Technologies (NYSE:ORA – Get Rating) last released its earnings results on Wednesday, February 22nd. The energy company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.25. Ormat Technologies had a return on equity of 4.60% and a net margin of 8.97%. The firm had revenue of $205.50 million for the quarter, compared to the consensus estimate of $199.33 million. During the same period in the prior year, the firm earned $0.41 EPS. The firm’s revenue was up 7.6% on a year-over-year basis. Analysts predict that Ormat Technologies, Inc. will post 1.8 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 22nd. Investors of record on Wednesday, March 8th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.60%. The ex-dividend date is Tuesday, March 7th. Ormat Technologies’s payout ratio is 41.03%.

About Ormat Technologies

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Ormat Technologies, Inc operates as a holding company. The firm engages in the geothermal and recovered energy power businesses. It operates through the following segments: Electricity, Product and Energy Storage. The Electricity segment focuses on the sale of electricity from the company’s power plants pursuant to power purchase agreements.