Harel Insurance Investments & Financial Services Ltd. increased its stake in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 273,109.4% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 956,233 shares of the energy company's stock after buying an additional 955,883 shares during the period. Harel Insurance Investments & Financial Services Ltd. owned 1.58% of Ormat Technologies worth $67,673,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ORA. Stuart Chaussee & Associates Inc. bought a new position in shares of Ormat Technologies in the fourth quarter worth approximately $34,000. AlphaQuest LLC raised its holdings in Ormat Technologies by 4,691.7% in the 4th quarter. AlphaQuest LLC now owns 575 shares of the energy company's stock worth $39,000 after acquiring 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 worth $62,000 after acquiring an additional 263 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Ormat Technologies during the fourth quarter valued at $66,000. Finally, Sterling Capital Management LLC boosted its position in shares of Ormat Technologies by 897.8% during the fourth quarter. Sterling Capital Management LLC now owns 1,856 shares of the energy company's stock valued at $126,000 after buying an additional 1,670 shares during the last quarter. Institutional investors own 95.49% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on the company. 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 research report on Tuesday, March 25th. Robert W. Baird initiated coverage on shares of Ormat Technologies in a report on Thursday, March 13th. They set a "neutral" rating and a $81.00 price objective for the company. Baird R W upgraded shares of Ormat Technologies to a "hold" rating in a research report on Thursday, March 13th. Barclays raised shares of Ormat Technologies from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $80.00 to $86.00 in a research report on Friday, June 6th. Finally, Wall Street Zen upgraded shares of Ormat Technologies from a "sell" rating to a "hold" rating in a research note on Monday, April 7th. Five analysts have rated the stock with a hold rating and four have given 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 $84.14.
Check Out Our Latest Stock Report on ORA
Insider Buying and Selling
In other news, Director Dafna Sharir sold 1,601 shares of the firm's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $85.63, for a total value of $137,093.63. Following the transaction, the director owned 3,238 shares of the company's stock, valued at $277,269.94. This trade represents a 33.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stanley Stern sold 547 shares of Ormat Technologies stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $85.54, for a total value of $46,790.38. Following the transaction, the director directly owned 6,137 shares in the company, valued at approximately $524,958.98. The trade was a 8.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,329 shares of company stock worth $423,443 in the last quarter. Company insiders own 0.56% of the company's stock.
Ormat Technologies Stock Performance
Shares of NYSE:ORA traded up $3.07 during trading on Friday, hitting $87.71. The company's stock had a trading volume of 468,406 shares, compared to its average volume of 485,283. 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 firm has a market cap of $5.32 billion, a price-to-earnings ratio of 42.58, a P/E/G ratio of 4.24 and a beta of 0.64. The company has a 50-day moving average of $77.37 and a 200-day moving average of $71.45. Ormat Technologies, Inc. has a 12 month low of $61.58 and a 12 month high of $87.85.
Ormat Technologies (NYSE:ORA - Get Free Report) last announced its earnings results on Wednesday, May 7th. The energy company reported $0.68 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.10. Ormat Technologies had a net margin of 14.18% and a return on equity of 5.35%. The business had revenue of $229.76 million during the quarter, compared to analysts' expectations of $228.33 million. During the same period in the prior year, the company earned $0.64 earnings per share. The firm's revenue was up 2.5% on a year-over-year basis. On average, sell-side analysts expect that Ormat Technologies, Inc. will post 1.94 earnings per share for the current year.
Ormat Technologies Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 21st were paid a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $0.48 annualized dividend and a dividend yield of 0.55%. Ormat Technologies's dividend payout ratio (DPR) is 23.30%.
About Ormat Technologies
(
Free Report)
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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