4,300 Shares in Ormat Technologies, Inc. $ORA Purchased by Strs Ohio

Key Points

• Strs Ohio has acquired a new position in Ormat Technologies, purchasing 4,300 shares valued at approximately $304,000.
• The energy company reported an earnings per share (EPS) of $0.48 for the last quarter, exceeding estimates and showing a 9.9% revenue growth year-over-year.
• Ormat Technologies declared a quarterly dividend of $0.12 per share, representing a 0.5% dividend yield with a payout ratio of 22.33%.

Strs Ohio acquired a new position in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,300 shares of the energy company's stock, valued at approximately $304,000.

Other institutional investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. boosted its holdings in Ormat Technologies by 42.6% during the first quarter. UMB Bank n.a. now owns 880 shares of the energy company's stock worth $62,000 after buying an additional 263 shares in the last quarter. CWM LLC boosted its holdings in Ormat Technologies by 294.2% during the first quarter. CWM LLC now owns 887 shares of the energy company's stock worth $63,000 after buying an additional 662 shares in the last quarter. Signaturefd LLC boosted its holdings in Ormat Technologies by 60.6% during the first quarter. Signaturefd LLC now owns 890 shares of the energy company's stock worth $63,000 after buying an additional 336 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Ormat Technologies by 30.7% during the first quarter. Russell Investments Group Ltd. now owns 1,072 shares of the energy company's stock worth $76,000 after buying an additional 252 shares in the last quarter. Finally, Gitterman Wealth Management LLC purchased a new stake in Ormat Technologies during the first quarter worth about $202,000. Hedge funds and other institutional investors own 95.49% of the company's stock.

Ormat Technologies Price Performance

ORA opened at $93.71 on Wednesday. Ormat Technologies, Inc. has a 1 year low of $61.58 and a 1 year high of $95.36. The company's 50 day simple moving average is $90.42 and its 200 day simple moving average is $80.69. The stock has a market capitalization of $5.69 billion, a PE ratio of 43.59, a P/E/G ratio of 4.31 and a beta of 0.69. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.64 and a current ratio of 0.70.

Ormat Technologies (NYSE:ORA - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The energy company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.37 by $0.11. The firm had revenue of $234.02 million during the quarter, compared to analyst estimates of $225.26 million. Ormat Technologies had a net margin of 14.49% and a return on equity of 5.47%. Ormat Technologies's revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.37 earnings per share. As a group, sell-side analysts expect that Ormat Technologies, Inc. will post 1.94 EPS for the current year.

Ormat Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Wednesday, August 20th. Ormat Technologies's dividend payout ratio (DPR) is 22.33%.

Analyst Ratings Changes

ORA has been the subject of a number of research reports. Cowen restated a "hold" rating on shares of Ormat Technologies in a research report on Friday, August 8th. UBS Group lifted their target price on shares of Ormat Technologies from $100.00 to $105.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Robert W. Baird upgraded shares of Ormat Technologies from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $87.00 to $103.00 in a research report on Wednesday, July 30th. JPMorgan Chase & Co. lifted their target price on shares of Ormat Technologies from $75.00 to $85.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Finally, Oppenheimer restated an "outperform" rating and set a $100.00 target price on shares of Ormat Technologies in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, Ormat Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $94.50.

Insider Transactions at Ormat Technologies

In related news, Director Stanley Stern sold 876 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $91.98, for a total value of $80,574.48. Following the transaction, the director directly owned 5,261 shares of the company's stock, valued at approximately $483,906.78. This trade represents a 14.27% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Byron G. Wong sold 535 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $91.39, for a total value of $48,893.65. Following the completion of the transaction, the director directly owned 8,659 shares in the company, valued at $791,346.01. This trade represents a 5.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,171 shares of company stock valued at $1,792,979. Corporate insiders own 0.56% of the company's stock.

Ormat Technologies Company Profile

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.

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