Edgestream Partners L.P. Acquires Shares of 20,192 Ormat Technologies, Inc. (NYSE:ORA)

Edgestream Partners L.P. acquired a new stake in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 20,192 shares of the energy company's stock, valued at approximately $1,429,000.

Other large investors have also made changes to their positions in the company. Teacher Retirement System of Texas acquired a new position in shares of Ormat Technologies during the first quarter valued at about $593,000. Vanguard Group Inc. increased 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 valued at $409,305,000 after acquiring an additional 274,540 shares during the period. Harel Insurance Investments & Financial Services Ltd. increased its stake in Ormat Technologies by 273,109.4% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 956,233 shares of the energy company's stock valued at $67,673,000 after acquiring an additional 955,883 shares during the period. Franklin Resources Inc. bought a new stake in Ormat Technologies in the fourth quarter valued at about $526,000. Finally, GAMMA Investing LLC increased its stake in Ormat Technologies by 4,485.0% in the first quarter. GAMMA Investing LLC now owns 39,844 shares of the energy company's stock valued at $2,820,000 after acquiring an additional 38,975 shares during the period. Institutional investors and hedge funds own 95.49% of the company's stock.

Insider Buying and Selling at Ormat Technologies

In other news, Director David Granot sold 950 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $73.10, for a total transaction of $69,445.00. Following the sale, the director directly owned 2,713 shares of the company's stock, valued at $198,320.30. This represents a 25.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Byron G. Wong sold 460 shares of the stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $84.04, for a total transaction of $38,658.40. Following the sale, the director directly owned 8,659 shares in the company, valued at $727,702.36. This trade represents a 5.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,329 shares of company stock valued at $423,443 over the last three months. Insiders own 0.56% of the company's stock.

Ormat Technologies Price Performance

Shares of NYSE ORA traded up $1.40 during mid-day trading on Friday, hitting $89.72. 560,718 shares of the stock were exchanged, compared to its average volume of 490,429. The company has a market cap of $5.44 billion, a P/E ratio of 43.55, a PEG ratio of 4.33 and a beta of 0.64. The stock's fifty day simple moving average is $80.36 and its two-hundred day simple moving average is $72.82. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.90 and a current ratio of 0.97. Ormat Technologies, Inc. has a twelve month low of $61.58 and a twelve month high of $90.07.

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

Ormat Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders 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 annualized dividend and a dividend yield of 0.53%. Ormat Technologies's dividend payout ratio (DPR) is currently 23.30%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ORA shares. Wall Street Zen raised shares of Ormat Technologies from a "sell" rating to a "hold" rating in a research note on Monday, April 7th. Barclays upped their target price on shares of Ormat Technologies from $86.00 to $90.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Finally, Jefferies Financial Group upped their target price on shares of Ormat Technologies from $78.00 to $86.00 and gave the company a "buy" rating in a research note on Tuesday, March 25th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $84.71.

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.