Graham Capital Management L.P. Has $3.16 Million Stock Position in Ormat Technologies, Inc. $ORA

Key Points

• Graham Capital Management L.P. increased its holdings in Ormat Technologies by 24.8%, owning 44,625 shares valued at approximately $3.15 million after purchasing an additional 8,868 shares.
• Analysts have raised their price targets for Ormat Technologies, with JPMorgan boosting their target from $75.00 to $85.00, while Robert W. Baird upgraded their target from $87.00 to $103.00.
• Ormat Technologies announced a dividend of $0.12 per share, with a payout ratio of 22.33%, set to be paid to investors on September 3rd.

Graham Capital Management L.P. grew its position in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 24.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,625 shares of the energy company's stock after acquiring an additional 8,868 shares during the period. Graham Capital Management L.P. owned 0.07% of Ormat Technologies worth $3,158,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ORA. Stuart Chaussee & Associates Inc. bought a new position in shares of Ormat Technologies in the fourth quarter valued at approximately $34,000. UMB Bank n.a. raised its stake in shares of Ormat Technologies by 42.6% in the first 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 last quarter. Signaturefd LLC raised its stake 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 acquiring an additional 336 shares during the last quarter. CWM LLC raised its stake in shares of Ormat Technologies by 294.2% in 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. Finally, Russell Investments Group Ltd. raised its stake in shares of Ormat Technologies by 30.7% in the first quarter. Russell Investments Group Ltd. now owns 1,072 shares of the energy company's stock valued at $76,000 after acquiring an additional 252 shares during the last quarter. Institutional investors own 95.49% of the company's stock.

Insider Buying and Selling

In other news, CFO Assi Ginzburg sold 7,066 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $94.71, for a total value of $669,220.86. Following the completion of the transaction, the chief financial officer owned 33,825 shares of the company's stock, valued at $3,203,565.75. The trade was a 17.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Byron G. Wong sold 535 shares of the business's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $91.39, for a total transaction of $48,893.65. Following the completion of the transaction, the director directly owned 8,659 shares of the company's stock, valued at $791,346.01. This trade represents a 5.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,976 shares of company stock worth $1,105,067 over the last ninety days. Insiders own 0.56% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Barclays lowered their price target on shares of Ormat Technologies from $90.00 to $89.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Robert W. Baird raised shares of Ormat Technologies from a "neutral" rating to an "outperform" rating and raised their price target for the company from $87.00 to $103.00 in a report on Wednesday, July 30th. Baird R W raised shares of Ormat Technologies from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 30th. Roth Capital reissued a "buy" rating and issued a $98.00 price target (up previously from $88.00) on shares of Ormat Technologies in a report on Tuesday, August 5th. Finally, UBS Group raised their price target on shares of Ormat Technologies from $100.00 to $105.00 and gave the company a "buy" rating in a report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $93.30.

Ormat Technologies Trading Up 0.6%

ORA traded up $0.50 during trading on Thursday, reaching $91.67. 395,782 shares of the company's stock were exchanged, compared to its average volume of 517,631. The company's fifty day moving average price is $88.91 and its 200-day moving average price is $78.33. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.64 and a current ratio of 0.70. Ormat Technologies, Inc. has a fifty-two week low of $61.58 and a fifty-two week high of $95.36. The firm has a market capitalization of $5.57 billion, a PE ratio of 42.64, a P/E/G ratio of 4.27 and a beta of 0.69.

Ormat Technologies (NYSE:ORA - Get Free Report) last released its earnings results on Wednesday, August 6th. The energy company reported $0.48 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.11. Ormat Technologies had a net margin of 14.49% and a return on equity of 5.47%. The firm had revenue of $234.02 million during the quarter, compared to analyst estimates of $225.26 million. During the same quarter in the previous year, the business earned $0.37 EPS. The business's quarterly revenue was up 9.9% compared to the same quarter last year. As a group, equities analysts forecast that Ormat Technologies, Inc. will post 1.94 EPS for the current year.

Ormat Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Wednesday, August 20th were issued a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $0.48 annualized dividend and a dividend yield of 0.5%. Ormat Technologies's payout ratio is 22.33%.

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.