ProShare Advisors LLC Purchases 6,187 Shares of Ormat Technologies, Inc. (NYSE:ORA)

ProShare Advisors LLC increased its position in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 43.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,343 shares of the energy company's stock after purchasing an additional 6,187 shares during the quarter. ProShare Advisors LLC's holdings in Ormat Technologies were worth $1,378,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ORA. AlphaQuest LLC grew its stake in Ormat Technologies by 4,691.7% during the fourth quarter. AlphaQuest LLC now owns 575 shares of the energy company's stock worth $39,000 after buying an additional 563 shares during the last quarter. Headlands Technologies LLC bought a new stake in Ormat Technologies during the 4th quarter worth approximately $66,000. Sterling Capital Management LLC increased its holdings in Ormat Technologies by 897.8% during the 4th quarter. Sterling Capital Management LLC now owns 1,856 shares of the energy company's stock valued at $126,000 after purchasing an additional 1,670 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. bought a new position in Ormat Technologies in the 4th quarter valued at $182,000. Finally, Raymond James Financial Inc. acquired a new position in Ormat Technologies in the fourth quarter worth $204,000. 95.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Robert W. Baird started coverage on Ormat Technologies in a research note on Thursday, March 13th. They issued a "neutral" rating and a $81.00 target price for the company. Jefferies Financial Group raised their price objective on shares of Ormat Technologies from $78.00 to $86.00 and gave the company a "buy" rating in a research report on Tuesday, March 25th. StockNews.com upgraded shares of Ormat Technologies from a "sell" rating to a "hold" rating in a research report on Monday, April 7th. Baird R W raised shares of Ormat Technologies to a "hold" rating in a report on Thursday, March 13th. Finally, Barclays boosted their price objective on shares of Ormat Technologies from $75.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 8th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $83.29.

Ormat Technologies Stock Performance

Ormat Technologies stock opened at $72.81 on Thursday. The company has a market cap of $4.41 billion, a PE ratio of 37.15, a PEG ratio of 3.18 and a beta of 0.65. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. Ormat Technologies, Inc. has a 1 year low of $61.58 and a 1 year high of $84.30. The company's 50-day moving average is $71.58 and its two-hundred day moving average is $71.43.

Ormat Technologies (NYSE:ORA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The energy company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.10. Ormat Technologies had a net margin of 13.33% and a return on equity of 5.27%. The business had revenue of $229.76 million for the quarter, compared to analyst estimates of $228.33 million. During the same period in the prior year, the business posted $0.64 earnings per share. Ormat Technologies's revenue was up 2.5% compared to the same quarter last year. Equities analysts anticipate that Ormat Technologies, Inc. will post 1.94 earnings per share for the current year.

Ormat Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 21st will be given a $0.12 dividend. The ex-dividend date is Wednesday, May 21st. This represents a $0.48 annualized dividend and a dividend yield of 0.66%. Ormat Technologies's dividend payout ratio is currently 23.30%.

Insider Buying and Selling

In other news, Director Dafna Sharir sold 876 shares of the company's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $75.00, for a total value of $65,700.00. Following the completion of the sale, the director now directly owns 4,438 shares of the company's stock, valued at $332,850. This represents a 16.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jessica Woelfel sold 409 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $72.15, for a total transaction of $29,509.35. Following the completion of the sale, the insider now owns 6,094 shares in the company, valued at $439,682.10. This represents a 6.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,068 shares of company stock valued at $291,572 over the last three months. Company insiders own 0.56% of the company's stock.

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.

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