Ormat Technologies, Inc. (NYSE:ORA) Shares Bought by Ethic Inc.

Ethic Inc. boosted its position in shares of Ormat Technologies, Inc. (NYSE:ORA) by 16.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,350 shares of the energy company’s stock after acquiring an additional 1,048 shares during the period. Ethic Inc.’s holdings in Ormat Technologies were worth $498,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Crestline Management LP grew its holdings in Ormat Technologies by 54.6% during the 4th quarter. Crestline Management LP now owns 6,484 shares of the energy company’s stock worth $439,000 after acquiring an additional 2,290 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Ormat Technologies by 2.8% in the 4th quarter. Ameriprise Financial Inc. now owns 53,105 shares of the energy company’s stock valued at $3,596,000 after buying an additional 1,434 shares in the last quarter. Ardsley Advisory Partners LP acquired a new position in shares of Ormat Technologies in the 4th quarter valued at $1,016,000. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Ormat Technologies by 903.6% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 49,647 shares of the energy company’s stock valued at $3,362,000 after buying an additional 44,700 shares in the last quarter. Finally, Soros Fund Management LLC acquired a new position in shares of Ormat Technologies in the 4th quarter valued at $10,158,000. Institutional investors and hedge funds own 95.49% of the company’s stock.

Ormat Technologies Stock Up 2.9%

Shares of NYSE:ORA opened at $75.13 on Friday. The stock has a market cap of $4.55 billion, a P/E ratio of 38.33, a P/E/G ratio of 3.18 and a beta of 0.65. The firm has a fifty day moving average price of $71.36 and a 200 day moving average price of $71.58. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.87. Ormat Technologies, Inc. has a 1-year low of $61.58 and a 1-year high of $84.30.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings results on Wednesday, May 7th. The energy company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.10. The firm had revenue of $229.76 million during the quarter, compared to analysts’ expectations of $228.33 million. Ormat Technologies had a net margin of 13.33% and a return on equity of 5.27%. Ormat Technologies’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 EPS. Sell-side analysts predict that Ormat Technologies, Inc. will post 1.94 EPS for the current year.

Ormat Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 21st will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $0.48 dividend on an annualized basis and a yield of 0.64%. Ormat Technologies’s payout ratio is currently 23.30%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Jefferies Financial Group upped their target price on shares of Ormat Technologies from $78.00 to $86.00 and gave the company a “buy” rating in a report on Tuesday, March 25th. Robert W. Baird assumed coverage on shares of Ormat Technologies in a report on Thursday, March 13th. They issued a “neutral” rating and a $81.00 target price for the company. Baird R W upgraded shares of Ormat Technologies to a “hold” rating in a report on Thursday, March 13th. JPMorgan Chase & Co. upped their target price on shares of Ormat Technologies from $71.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, February 28th. Finally, Barclays increased their price target on shares of Ormat Technologies from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 8th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $83.29.

Insiders Place Their Bets

In other Ormat Technologies news, Director David Granot sold 1,666 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $69.00, for a total transaction of $114,954.00. Following the completion of the transaction, the director now owns 1,910 shares in the company, valued at approximately $131,790. This represents a 46.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jessica Woelfel sold 409 shares of the company’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $72.15, for a total transaction of $29,509.35. Following the transaction, the insider now owns 6,094 shares of the company’s stock, valued at approximately $439,682.10. The trade was a 6.29% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,192 shares of company stock worth $225,872. 0.56% of the stock is owned by insiders.

About Ormat Technologies

Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, Guadeloupe, New Zealand, Honduras, and internationally. It operates in three segments: Electricity, Product, and Energy Storage. The Electricity segment develops, builds, owns, and operates geothermal, solar photovoltaic, and recovered energy-based power plants; and sells electricity.