Impax Asset Management AIFM Ltd increased its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 2.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 289,712 shares of the energy company’s stock after purchasing an additional 6,000 shares during the period. Ormat Technologies makes up approximately 5.2% of Impax Asset Management AIFM Ltd’s investment portfolio, making the stock its 7th largest holding. Impax Asset Management AIFM Ltd owned about 0.57% of Ormat Technologies worth $17,687,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Royal Bank of Canada grew its stake in Ormat Technologies by 1.7% in the second quarter. Royal Bank of Canada now owns 2,008 shares of the energy company’s stock valued at $117,000 after acquiring an additional 34 shares during the period. Creative Planning grew its stake in Ormat Technologies by 12.0% in the second quarter. Creative Planning now owns 2,099 shares of the energy company’s stock valued at $123,000 after acquiring an additional 225 shares during the period. Sei Investments Co. grew its stake in Ormat Technologies by 2.2% in the second quarter. Sei Investments Co. now owns 2,266 shares of the energy company’s stock valued at $133,000 after acquiring an additional 49 shares during the period. Advisor Group Inc. grew its stake in Ormat Technologies by 153.2% in the second quarter. Advisor Group Inc. now owns 2,302 shares of the energy company’s stock valued at $135,000 after acquiring an additional 1,393 shares during the period. Finally, Psagot Investment House Ltd. grew its stake in Ormat Technologies by 1.6% in the second quarter. Psagot Investment House Ltd. now owns 2,661 shares of the energy company’s stock valued at $156,000 after acquiring an additional 43 shares during the period. 46.45% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have issued reports on the company. Zacks Investment Research cut Ormat Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. TheStreet cut Ormat Technologies from a “b” rating to a “c+” rating in a research note on Monday, August 14th. Oppenheimer reissued a “buy” rating and issued a $70.00 target price (up from $65.00) on shares of Ormat Technologies in a research note on Wednesday, September 27th. Roth Capital set a $70.00 target price on Ormat Technologies and gave the company a “buy” rating in a research note on Monday, November 13th. Finally, Cowen set a $67.00 target price on Ormat Technologies and gave the company a “buy” rating in a research note on Friday, August 18th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Ormat Technologies currently has a consensus rating of “Buy” and an average target price of $66.88.

In other news, EVP Bob Sullivan sold 9,890 shares of the business’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $62.89, for a total value of $621,982.10. Following the sale, the executive vice president now directly owns 9,890 shares in the company, valued at $621,982.10. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Erez Klein sold 24,576 shares of the business’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $59.03, for a total value of $1,450,721.28. Following the completion of the sale, the vice president now owns 23,890 shares in the company, valued at $1,410,226.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 84,359 shares of company stock worth $5,013,332. Corporate insiders own 14.74% of the company’s stock.

Shares of Ormat Technologies, Inc. (ORA) traded up $0.47 during trading on Tuesday, hitting $64.56. The stock had a trading volume of 133,000 shares, compared to its average volume of 180,506. The company has a market capitalization of $3,242.77, a price-to-earnings ratio of 28.36, a price-to-earnings-growth ratio of 2.15 and a beta of 1.25. Ormat Technologies, Inc. has a 12 month low of $46.40 and a 12 month high of $65.91. The company has a current ratio of 1.72, a quick ratio of 1.62 and a debt-to-equity ratio of 0.65.

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

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 21st will be issued a $0.08 dividend. The ex-dividend date is Monday, November 20th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.50%. Ormat Technologies’s dividend payout ratio (DPR) is 13.73%.

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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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