KLP Kapitalforvaltning AS Acquires 3,200 Shares of Ormat Technologies, Inc. (NYSE:ORA)

KLP Kapitalforvaltning AS grew its position in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 3.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 91,100 shares of the energy company's stock after buying an additional 3,200 shares during the quarter. KLP Kapitalforvaltning AS owned 0.15% of Ormat Technologies worth $6,447,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Bailard Inc. increased its position in shares of Ormat Technologies by 4.1% in the first quarter. Bailard Inc. now owns 20,246 shares of the energy company's stock valued at $1,433,000 after buying an additional 800 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Ormat Technologies by 1.8% in the first quarter. Victory Capital Management Inc. now owns 19,245 shares of the energy company's stock valued at $1,362,000 after buying an additional 349 shares in the last quarter. Signaturefd LLC increased its position in shares of Ormat Technologies by 60.6% in the first quarter. Signaturefd LLC now owns 890 shares of the energy company's stock valued at $63,000 after buying an additional 336 shares in the last quarter. Edgestream Partners L.P. purchased a new position in shares of Ormat Technologies in the first quarter valued at $1,429,000. Finally, CWM LLC boosted its stake in shares of Ormat Technologies by 294.2% during the first quarter. CWM LLC now owns 887 shares of the energy company's stock valued at $63,000 after acquiring an additional 662 shares during the last quarter. Hedge funds and other institutional investors own 95.49% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on ORA shares. JPMorgan Chase & Co. increased their price objective on Ormat Technologies from $75.00 to $85.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. UBS Group increased their price objective on Ormat Technologies from $100.00 to $105.00 and gave the company a "buy" rating in a research note on Thursday. Wall Street Zen raised Ormat Technologies from a "sell" rating to a "hold" rating in a research note on Monday, April 7th. Finally, Barclays increased their price objective on Ormat Technologies from $86.00 to $90.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $88.50.

Insider Activity at Ormat Technologies

In related news, Director Dafna Sharir sold 1,601 shares of the company's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $85.63, for a total transaction of $137,093.63. Following the transaction, the director directly owned 3,238 shares of the company's stock, valued at approximately $277,269.94. The trade was a 33.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michal Marom sold 895 shares of the company's 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 transaction, the director directly owned 3,080 shares in the company, valued at $226,287.60. The trade was a 22.52% 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 ninety days. Company insiders own 0.56% of the company's stock.

Ormat Technologies Stock Performance

ORA stock traded down $0.48 during trading on Monday, reaching $89.01. 69,844 shares of the company's stock were exchanged, compared to its average volume of 505,213. The company has a quick ratio of 0.90, a current ratio of 0.97 and a debt-to-equity ratio of 0.77. Ormat Technologies, Inc. has a 1-year low of $61.58 and a 1-year high of $91.81. The company's fifty day moving average price is $81.93 and its 200-day moving average price is $73.57. The firm has a market cap of $5.39 billion, a PE ratio of 43.23, a P/E/G ratio of 4.31 and a beta of 0.64.

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 (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 analyst estimates of $228.33 million. Ormat Technologies had a return on equity of 5.35% and a net margin of 14.18%. Ormat Technologies's revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.64 earnings per share. On average, research analysts expect that Ormat Technologies, Inc. will post 1.94 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 21st were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend was Wednesday, May 21st. Ormat Technologies's dividend payout ratio (DPR) is presently 23.30%.

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.