Twinbeech Capital LP Buys Shares of 6,688 Ormat Technologies, Inc. (NYSE:ORA)

Twinbeech Capital LP purchased a new position in Ormat Technologies, Inc. (NYSE:ORA - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,688 shares of the energy company's stock, valued at approximately $453,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake in Ormat Technologies by 5.6% in the fourth quarter. Principal Financial Group Inc. now owns 131,906 shares of the energy company's stock worth $8,933,000 after purchasing an additional 7,025 shares during the period. Vanguard Group Inc. grew its stake in Ormat Technologies by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 6,043,996 shares of the energy company's stock worth $409,305,000 after purchasing an additional 274,540 shares during the period. Element Capital Management LLC purchased a new stake in Ormat Technologies in the fourth quarter worth $2,113,000. Daiwa Securities Group Inc. purchased a new stake in Ormat Technologies in the fourth quarter worth $752,000. Finally, Franklin Resources Inc. purchased a new stake in Ormat Technologies in the fourth quarter worth $526,000. 95.49% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Ormat Technologies news, insider Jessica Woelfel sold 409 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $72.15, for a total transaction of $29,509.35. Following the completion of the transaction, the insider now owns 6,094 shares of the company's stock, valued at $439,682.10. This represents a 6.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dafna Sharir sold 876 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $75.00, for a total value of $65,700.00. Following the transaction, the director now directly owns 4,438 shares of the company's stock, valued at $332,850. The trade was a 16.48% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,068 shares of company stock valued at $291,572. 0.56% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ORA has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their target price on Ormat Technologies from $71.00 to $75.00 and gave the stock a "neutral" rating in a report on Friday, February 28th. Jefferies Financial Group boosted their target price on Ormat Technologies from $78.00 to $86.00 and gave the stock a "buy" rating in a report on Tuesday, March 25th. Barclays boosted their target price on Ormat Technologies from $75.00 to $80.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th. Baird R W raised Ormat Technologies to a "hold" rating in a report on Thursday, March 13th. Finally, Robert W. Baird assumed coverage on Ormat Technologies in a report on Thursday, March 13th. They set a "neutral" rating and a $81.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $83.29.

Ormat Technologies Stock Performance

Ormat Technologies stock traded down $0.16 during trading hours on Wednesday, hitting $72.23. 72,143 shares of the stock traded hands, compared to its average volume of 482,225. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.87. The firm's 50 day moving average price is $71.53 and its 200-day moving average price is $71.06. The stock has a market capitalization of $4.38 billion, a price-to-earnings ratio of 36.97, a P/E/G ratio of 3.18 and a beta of 0.65. Ormat Technologies, Inc. has a 1 year low of $61.58 and a 1 year high of $84.30.

Ormat Technologies (NYSE:ORA - Get Free Report) last issued its earnings results on Wednesday, May 7th. The energy company reported $0.68 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.10. The firm had revenue of $229.76 million for the quarter, compared to the consensus estimate of $228.33 million. Ormat Technologies had a return on equity of 5.27% and a net margin of 13.33%. The company's revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 earnings per share. As a group, equities analysts expect that Ormat Technologies, Inc. will post 1.94 EPS for the current fiscal year.

Ormat Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Wednesday, May 21st will be issued a $0.12 dividend. The ex-dividend date is Wednesday, May 21st. This represents a $0.48 dividend on an annualized basis and a yield of 0.66%. Ormat Technologies's payout ratio is 23.30%.

Ormat Technologies 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.