Intech Investment Management LLC Has $11.81 Million Stock Position in Ormat Technologies, Inc. $ORA

Intech Investment Management LLC boosted its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 387.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 106,877 shares of the energy company’s stock after acquiring an additional 84,959 shares during the quarter. Intech Investment Management LLC owned approximately 0.18% of Ormat Technologies worth $11,807,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in ORA. AQR Capital Management LLC grew its holdings in Ormat Technologies by 324.1% during the 1st quarter. AQR Capital Management LLC now owns 24,918 shares of the energy company’s stock worth $1,740,000 after acquiring an additional 19,043 shares during the last quarter. United Services Automobile Association bought a new position in shares of Ormat Technologies in the 1st quarter valued at about $243,000. Empowered Funds LLC boosted its stake in shares of Ormat Technologies by 7.3% in the 1st quarter. Empowered Funds LLC now owns 4,201 shares of the energy company’s stock valued at $297,000 after purchasing an additional 286 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Ormat Technologies by 22.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 234,467 shares of the energy company’s stock valued at $16,593,000 after purchasing an additional 43,483 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Ormat Technologies by 10.1% in the 2nd quarter. American Century Companies Inc. now owns 16,307 shares of the energy company’s stock valued at $1,366,000 after purchasing an additional 1,496 shares during the last quarter. Institutional investors own 95.49% of the company’s stock.

Insider Activity

In other news, Director Byron G. Wong sold 4,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $134.32, for a total value of $604,440.00. Following the completion of the transaction, the director owned 5,925 shares of the company’s stock, valued at $795,846. This represents a 43.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director David Granot sold 1,766 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $134.43, for a total value of $237,403.38. Following the completion of the transaction, the director directly owned 1,766 shares of the company’s stock, valued at $237,403.38. This represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 33,949 shares of company stock valued at $4,444,618. Corporate insiders own 0.56% of the company’s stock.

Ormat Technologies Price Performance

Shares of ORA opened at $136.88 on Friday. The company has a market cap of $8.41 billion, a price-to-earnings ratio of 66.45, a PEG ratio of 5.87 and a beta of 0.80. Ormat Technologies, Inc. has a 1-year low of $73.05 and a 1-year high of $141.62. The company’s fifty day simple moving average is $118.80 and its 200 day simple moving average is $116.15. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.87.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.38. Ormat Technologies had a net margin of 10.97% and a return on equity of 6.61%. The firm had revenue of $403.91 million during the quarter, compared to analysts’ expectations of $349.17 million. During the same period in the previous year, the business posted $0.68 earnings per share. The company’s revenue for the quarter was up 75.8% compared to the same quarter last year. On average, research analysts forecast that Ormat Technologies, Inc. will post 2.35 earnings per share for the current fiscal year.

Ormat Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 20th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $0.48 annualized dividend and a yield of 0.4%. Ormat Technologies’s payout ratio is presently 23.30%.

Analyst Ratings Changes

ORA has been the topic of several recent research reports. Royal Bank Of Canada started coverage on shares of Ormat Technologies in a research note on Tuesday, March 3rd. They set an “outperform” rating and a $130.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Ormat Technologies from $106.00 to $123.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. UBS Group lifted their price objective on shares of Ormat Technologies from $143.00 to $152.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. TD Cowen reduced their price objective on shares of Ormat Technologies from $131.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Finally, Jefferies Financial Group lowered shares of Ormat Technologies from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $125.00 to $130.00 in a research note on Friday, February 13th. Eight analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $133.18.

Ormat Technologies Company Profile

Ormat Technologies, Inc is a leading renewable energy company specializing in geothermal and recovered energy power plants. Through its vertically integrated business model, Ormat designs, develops, engineers, constructs, owns and operates clean energy projects worldwide. The company’s core technology centers on the Organic Rankine Cycle (ORC), which converts heat from geothermal sources or industrial waste streams into sustainable electricity without combustion.

Ormat’s offering includes turnkey power plant solutions, proprietary ORC equipment and ongoing operations and maintenance services.