Van ECK Associates Corp Has $33.12 Million Stock Position in Ormat Technologies, Inc. (NYSE:ORA)

Van ECK Associates Corp trimmed its position in Ormat Technologies, Inc. (NYSE:ORA) by 3.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 436,974 shares of the energy company’s stock after selling 15,849 shares during the quarter. Van ECK Associates Corp owned 0.72% of Ormat Technologies worth $33,118,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of Ormat Technologies by 12,165.8% during the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 691,298 shares of the energy company’s stock valued at $48,336,000 after acquiring an additional 685,662 shares in the last quarter. Impax Asset Management Group plc boosted its holdings in Ormat Technologies by 15.0% during the fourth quarter. Impax Asset Management Group plc now owns 2,638,182 shares of the energy company’s stock valued at $199,004,000 after purchasing an additional 343,650 shares in the last quarter. Van Berkom & Associates Inc. raised its holdings in shares of Ormat Technologies by 32.0% in the 3rd quarter. Van Berkom & Associates Inc. now owns 1,035,686 shares of the energy company’s stock worth $72,415,000 after buying an additional 250,884 shares in the last quarter. Global Alpha Capital Management Ltd. raised its holdings in shares of Ormat Technologies by 6.4% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 2,117,339 shares of the energy company’s stock worth $149,232,000 after buying an additional 127,149 shares in the last quarter. Finally, LGT Capital Partners LTD. boosted its stake in Ormat Technologies by 26.6% in the 4th quarter. LGT Capital Partners LTD. now owns 524,710 shares of the energy company’s stock valued at $39,768,000 after buying an additional 110,330 shares in the last quarter. 95.49% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on ORA. Barclays dropped their price objective on Ormat Technologies from $82.00 to $75.00 and set an “equal weight” rating for the company in a research note on Monday, February 5th. TD Cowen reduced their target price on shares of Ormat Technologies from $74.00 to $70.00 and set a “market perform” rating on the stock in a research report on Friday, February 23rd. Finally, Oppenheimer lowered their price target on shares of Ormat Technologies from $84.00 to $83.00 and set an “outperform” rating for the company in a report on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Ormat Technologies currently has an average rating of “Hold” and an average target price of $81.00.

Insider Activity at Ormat Technologies

In other Ormat Technologies news, Director Stanley Stern sold 1,825 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $66.95, for a total transaction of $122,183.75. Following the completion of the transaction, the director now owns 4,835 shares in the company, valued at approximately $323,703.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.46% of the stock is currently owned by insiders.

Ormat Technologies Stock Performance

Shares of Ormat Technologies stock opened at $63.83 on Wednesday. The stock’s fifty day simple moving average is $64.77 and its 200 day simple moving average is $66.91. The company has a current ratio of 1.20, a quick ratio of 1.12 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $3.86 billion, a PE ratio of 30.54, a PEG ratio of 3.02 and a beta of 0.48. Ormat Technologies, Inc. has a 12 month low of $58.73 and a 12 month high of $88.26.

Ormat Technologies (NYSE:ORA) last announced its quarterly earnings results on Wednesday, February 21st. The energy company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.07. Ormat Technologies had a return on equity of 5.09% and a net margin of 15.00%. The company had revenue of $241.30 million during the quarter, compared to the consensus estimate of $239.71 million. During the same period in the prior year, the company earned $0.73 earnings per share. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. On average, research analysts predict that Ormat Technologies, Inc. will post 2.14 EPS for the current year.

Ormat Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were issued a dividend of $0.12 per share. The ex-dividend date was Tuesday, March 5th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.75%. Ormat Technologies’s payout ratio is 22.97%.

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.