Teachers Advisors LLC raised its stake in Ormat Technologies, Inc. (NYSE:ORA) by 32.0% during the first quarter, Holdings Channel reports. The fund owned 293,562 shares of the energy company’s stock after buying an additional 71,127 shares during the period. Teachers Advisors LLC’s holdings in Ormat Technologies were worth $16,757,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Creative Planning boosted its position in Ormat Technologies by 43.9% in the first quarter. Creative Planning now owns 1,874 shares of the energy company’s stock valued at $107,000 after buying an additional 572 shares during the last quarter. US Bancorp DE boosted its position in Ormat Technologies by 33.6% in the first quarter. US Bancorp DE now owns 2,169 shares of the energy company’s stock valued at $124,000 after buying an additional 545 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in Ormat Technologies during the fourth quarter valued at about $128,000. SG Americas Securities LLC boosted its position in Ormat Technologies by 16.6% in the first quarter. SG Americas Securities LLC now owns 2,285 shares of the energy company’s stock valued at $130,000 after buying an additional 326 shares during the last quarter. Finally, Quantbot Technologies LP boosted its position in Ormat Technologies by 89.3% in the first quarter. Quantbot Technologies LP now owns 2,334 shares of the energy company’s stock valued at $133,000 after buying an additional 1,101 shares during the last quarter. 45.81% of the stock is owned by institutional investors.

Ormat Technologies, Inc. (NYSE ORA) opened at 57.77 on Monday. The company’s 50-day moving average price is $59.10 and its 200 day moving average price is $56.57. Ormat Technologies, Inc. has a 52 week low of $44.41 and a 52 week high of $61.49. The company has a market cap of $2.87 billion, a PE ratio of 29.15 and a beta of 1.19.

Ormat Technologies (NYSE:ORA) last released its earnings results on Monday, May 8th. The energy company reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.05. The company had revenue of $189.90 million during the quarter, compared to analysts’ expectations of $177.42 million. Ormat Technologies had a return on equity of 10.05% and a net margin of 14.26%. The business’s revenue for the quarter was up 25.3% on a year-over-year basis. During the same period last year, the firm earned $0.59 EPS. On average, analysts anticipate that Ormat Technologies, Inc. will post $2.30 EPS for the current year.

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ORA has been the subject of several research reports. Zacks Investment Research raised Ormat Technologies from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research note on Friday, May 12th. Cowen and Company set a $67.00 target price on Ormat Technologies and gave the company a “buy” rating in a research note on Wednesday, May 10th. Oppenheimer Holdings, Inc. set a $65.00 target price on Ormat Technologies and gave the company a “buy” rating in a research note on Thursday, May 4th. BidaskClub raised Ormat Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, June 10th. Finally, Barclays PLC raised Ormat Technologies from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $54.00 to $59.00 in a research note on Friday, May 26th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $65.25.

In related news, Director Robert F. Clarke sold 15,000 shares of Ormat Technologies stock in a transaction on Friday, May 12th. The stock was sold at an average price of $56.97, for a total transaction of $854,550.00. Following the completion of the sale, the director now directly owns 7,500 shares of the company’s stock, valued at $427,275. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Zvi Krieger sold 7,704 shares of Ormat Technologies stock in a transaction on Friday, June 16th. The stock was sold at an average price of $57.81, for a total value of $445,368.24. Following the sale, the vice president now directly owns 7,704 shares of the company’s stock, valued at $445,368.24. The disclosure for this sale can be found here. Insiders sold a total of 56,854 shares of company stock valued at $3,300,521 over the last three months. Insiders own 22.97% of the company’s stock.

Ormat Technologies Company 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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