Ormat Technologies, Inc. $ORA Stock Holdings Increased by Strs Ohio

Strs Ohio boosted its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA) by 153.4% in the 4th quarter, Holdings Channel reports. The firm owned 14,700 shares of the energy company’s stock after buying an additional 8,900 shares during the period. Strs Ohio’s holdings in Ormat Technologies were worth $1,624,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its position in shares of Ormat Technologies by 1.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,866,543 shares of the energy company’s stock valued at $179,651,000 after acquiring an additional 22,748 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Ormat Technologies by 62.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,073,639 shares of the energy company’s stock worth $89,928,000 after acquiring an additional 413,384 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Ormat Technologies by 155.8% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 886,526 shares of the energy company’s stock worth $97,935,000 after acquiring an additional 540,000 shares during the last quarter. Northern Trust Corp raised its position in shares of Ormat Technologies by 1.9% during the third quarter. Northern Trust Corp now owns 751,132 shares of the energy company’s stock worth $72,296,000 after purchasing an additional 14,069 shares during the period. Finally, Legal & General Group Plc raised its position in shares of Ormat Technologies by 2.7% during the third quarter. Legal & General Group Plc now owns 605,478 shares of the energy company’s stock worth $58,277,000 after purchasing an additional 15,833 shares during the period. 95.49% of the stock is currently owned by institutional investors.

Ormat Technologies Stock Performance

Shares of Ormat Technologies stock opened at $115.19 on Thursday. Ormat Technologies, Inc. has a 12 month low of $70.42 and a 12 month high of $132.58. The company has a quick ratio of 0.75, a current ratio of 0.81 and a debt-to-equity ratio of 0.79. The stock has a market cap of $7.08 billion, a PE ratio of 57.31, a price-to-earnings-growth ratio of 5.05 and a beta of 0.80. The business has a fifty day simple moving average of $111.12 and a 200-day simple moving average of $113.38.

Ormat Technologies (NYSE:ORA) last announced its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.38. Ormat Technologies had a return on equity of 5.21% and a net margin of 12.52%.The firm had revenue of $403.91 million during the quarter, compared to the consensus estimate of $349.17 million. During the same period in the prior year, the business earned $0.68 EPS. The business’s revenue for the quarter was up 75.8% on a year-over-year basis. On average, sell-side analysts anticipate that Ormat Technologies, Inc. will post 2.28 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 20th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.4%. The ex-dividend date is Wednesday, May 20th. Ormat Technologies’s dividend payout ratio is currently 23.88%.

Insiders Place Their Bets

In other Ormat Technologies news, insider Jessica Woelfel sold 2,359 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $105.16, for a total value of $248,072.44. Following the completion of the sale, the insider owned 3,433 shares in the company, valued at $361,014.28. This represents a 40.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders have sold 3,364 shares of company stock valued at $353,621. 0.56% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on ORA. Robert W. Baird decreased their price target on Ormat Technologies from $143.00 to $130.00 and set an “outperform” rating for the company in a research report on Friday, February 27th. Jefferies Financial Group downgraded Ormat Technologies from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $125.00 to $130.00 in a report on Friday, February 13th. Barclays upped their price objective on shares of Ormat Technologies from $108.00 to $123.00 and gave the company an “overweight” rating in a research note on Monday, March 2nd. UBS Group decreased their target price on shares of Ormat Technologies from $148.00 to $143.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Finally, Royal Bank Of Canada initiated coverage on shares of Ormat Technologies in a research report on Tuesday, March 3rd. They issued an “outperform” rating and a $130.00 target price on the stock. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Ormat Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $128.64.

About Ormat Technologies

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.