Assenagon Asset Management S.A. Purchases New Position in Ormat Technologies, Inc. (NYSE:ORA)

Assenagon Asset Management S.A. purchased 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 and Exchange Commission (SEC). The fund purchased 15,828 shares of the energy company's stock, valued at approximately $1,120,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Stuart Chaussee & Associates Inc. acquired a new stake in shares of Ormat Technologies during the 4th quarter worth about $34,000. AlphaQuest LLC grew its stake in Ormat Technologies by 4,691.7% in the 4th quarter. AlphaQuest LLC now owns 575 shares of the energy company's stock valued at $39,000 after buying an additional 563 shares during the last quarter. UMB Bank n.a. raised its holdings in Ormat Technologies by 42.6% in the 1st quarter. UMB Bank n.a. now owns 880 shares of the energy company's stock valued at $62,000 after acquiring an additional 263 shares during the period. Headlands Technologies LLC acquired a new stake in Ormat Technologies during the fourth quarter worth approximately $66,000. Finally, Sterling Capital Management LLC lifted its position in Ormat Technologies by 897.8% during the fourth quarter. Sterling Capital Management LLC now owns 1,856 shares of the energy company's stock worth $126,000 after acquiring an additional 1,670 shares during the last quarter. Institutional investors own 95.49% of the company's stock.

Insiders Place Their Bets

In other Ormat Technologies news, Director Dafna Sharir sold 876 shares of the business's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $75.00, for a total transaction of $65,700.00. Following the completion of the transaction, the director now directly owns 4,438 shares in the company, valued at $332,850. The trade was a 16.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michal Marom sold 895 shares of Ormat Technologies stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $73.47, for a total value of $65,755.65. Following the completion of the transaction, the director now owns 3,080 shares in the company, valued at approximately $226,287.60. The trade was a 22.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,888 shares of company stock worth $212,865 over the last ninety days. Corporate insiders own 0.56% of the company's stock.

Ormat Technologies Price Performance

NYSE:ORA traded up $4.71 during trading hours on Thursday, reaching $84.83. 1,108,534 shares of the company were exchanged, compared to its average volume of 486,160. The business has a 50 day moving average of $73.94 and a 200 day moving average of $70.77. Ormat Technologies, Inc. has a 1-year low of $61.58 and a 1-year high of $85.44. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.97 and a quick ratio of 0.90. The company has a market capitalization of $5.14 billion, a P/E ratio of 41.18, a P/E/G ratio of 3.83 and a beta of 0.60.

Ormat Technologies (NYSE:ORA - Get Free Report) last released its earnings results on Wednesday, May 7th. The energy company reported $0.68 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.10. Ormat Technologies had a return on equity of 5.35% and a net margin of 14.18%. The firm had revenue of $229.76 million during the quarter, compared to the consensus estimate of $228.33 million. During the same period in the prior year, the company posted $0.64 EPS. The company's revenue was up 2.5% compared to the same quarter last year. Research analysts forecast that Ormat Technologies, Inc. will post 1.94 EPS for the current year.

Ormat Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 21st were paid a dividend of $0.12 per share. The ex-dividend date was Wednesday, May 21st. This represents a $0.48 dividend on an annualized basis and a yield of 0.57%. Ormat Technologies's payout ratio is 23.30%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Baird R W raised Ormat Technologies to a "hold" rating in a research report on Thursday, March 13th. Jefferies Financial Group boosted their price target on Ormat Technologies from $78.00 to $86.00 and gave the company a "buy" rating in a research note on Tuesday, March 25th. Wall Street Zen raised Ormat Technologies from a "sell" rating to a "hold" rating in a report on Monday, April 7th. JPMorgan Chase & Co. lifted 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. Finally, Barclays raised shares of Ormat Technologies from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $80.00 to $86.00 in a research report on Friday, June 6th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $84.14.

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.