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

ProShare Advisors LLC increased its stake in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 43.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. 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.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ORA. AlphaQuest LLC lifted its stake in shares of Ormat Technologies by 4,691.7% in the 4th quarter. AlphaQuest LLC now owns 575 shares of the energy company's stock valued at $39,000 after acquiring an additional 563 shares during the last quarter. Headlands Technologies LLC purchased a new position in Ormat Technologies in the 4th quarter worth about $66,000. Sterling Capital Management LLC grew its stake in shares of Ormat Technologies by 897.8% in the fourth quarter. Sterling Capital Management LLC now owns 1,856 shares of the energy company's stock worth $126,000 after acquiring an additional 1,670 shares during the period. Generali Investments CEE investicni spolecnost a.s. purchased a new position in shares of Ormat Technologies during the fourth quarter valued at approximately $182,000. Finally, Raymond James Financial Inc. bought a new position in Ormat Technologies during the fourth quarter valued at approximately $204,000. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

Ormat Technologies Price Performance

Ormat Technologies stock traded up $0.57 during midday trading on Tuesday, reaching $72.10. 53,344 shares of the company were exchanged, compared to its average volume of 482,758. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 0.95. The company has a market capitalization of $4.37 billion, a price-to-earnings ratio of 36.74, a P/E/G ratio of 3.18 and a beta of 0.65. The firm's 50-day simple moving average is $71.53 and its 200-day simple moving average is $71.05. Ormat Technologies, Inc. has a 1 year low of $61.58 and a 1 year high of $84.30.

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

Ormat Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Wednesday, May 21st will be given a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.67%. Ormat Technologies's dividend payout ratio (DPR) is 23.30%.

Insider Buying and Selling

In other Ormat Technologies news, insider Jessica Woelfel sold 409 shares of the firm's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $72.15, for a total value of $29,509.35. Following the sale, the insider now owns 6,094 shares of the company's stock, valued at $439,682.10. This trade represents a 6.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director David Granot sold 1,666 shares of Ormat Technologies stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $69.00, for a total value of $114,954.00. Following the sale, the director now directly owns 1,910 shares in the company, valued at $131,790. The trade was a 46.59% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,068 shares of company stock valued at $291,572. Corporate insiders own 0.56% of the company's stock.

Wall Street Analyst Weigh In

ORA has been the subject of several analyst reports. Barclays upped their price objective on Ormat Technologies from $75.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 8th. Robert W. Baird assumed coverage on shares of Ormat Technologies in a report on Thursday, March 13th. They issued a "neutral" rating and a $81.00 target price for the company. Jefferies Financial Group lifted their price objective 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. Baird R W raised shares of Ormat Technologies to a "hold" rating in a report on Thursday, March 13th. Finally, Wall Street Zen raised shares of Ormat Technologies from a "sell" rating to a "hold" rating in a research report on Monday, April 7th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $83.29.

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.