QRG Capital Management Inc. Acquires New Shares in Ormat Technologies, Inc. (NYSE:ORA)

QRG Capital Management Inc. bought a new stake in Ormat Technologies, Inc. (NYSE:ORA - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,382 shares of the energy company's stock, valued at approximately $239,000.

Other institutional investors have also recently bought and sold shares of the company. Stuart Chaussee & Associates Inc. bought a new stake in Ormat Technologies in the 4th quarter valued at approximately $34,000. AlphaQuest LLC lifted its stake in 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 in the last quarter. UMB Bank n.a. lifted its stake in Ormat Technologies by 42.6% in the 1st 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 in the last quarter. Headlands Technologies LLC bought a new stake in Ormat Technologies in the 4th quarter valued at approximately $66,000. Finally, Sterling Capital Management LLC lifted its stake in Ormat Technologies by 897.8% in the 4th quarter. Sterling Capital Management LLC now owns 1,856 shares of the energy company's stock valued at $126,000 after acquiring an additional 1,670 shares in the last quarter. Institutional investors own 95.49% of the company's stock.

Ormat Technologies Stock Performance

ORA traded down $0.27 during trading hours on Tuesday, reaching $86.32. The company's stock had a trading volume of 501,367 shares, compared to its average volume of 487,454. Ormat Technologies, Inc. has a 52 week low of $61.58 and a 52 week high of $87.20. The company's 50-day moving average is $75.18 and its 200-day moving average is $70.87. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.90 and a current ratio of 0.97. The firm has a market cap of $5.23 billion, a PE ratio of 41.90, a price-to-earnings-growth ratio of 4.14 and a beta of 0.60.

Ormat Technologies (NYSE:ORA - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The energy company reported $0.68 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.10. Ormat Technologies had a return on equity of 5.35% and a net margin of 14.18%. The business had revenue of $229.76 million for the quarter, compared to analysts' expectations of $228.33 million. During the same quarter in the prior year, the business earned $0.64 EPS. The firm's revenue for the quarter was up 2.5% on a year-over-year basis. On average, equities analysts forecast that Ormat Technologies, Inc. will post 1.94 EPS for the current year.

Ormat Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 21st were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend was Wednesday, May 21st. Ormat Technologies's dividend payout ratio is currently 23.30%.

Insider Transactions at Ormat Technologies

In other news, Director Stanley Stern sold 547 shares of Ormat Technologies stock in a transaction on Friday, June 20th. The stock was sold at an average price of $85.54, for a total transaction of $46,790.38. Following the completion of the sale, the director now owns 6,137 shares of the company's stock, valued at approximately $524,958.98. This trade represents a 8.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dafna Sharir sold 1,601 shares of the firm's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $85.63, for a total value of $137,093.63. Following the completion of the transaction, the director now owns 3,238 shares in the company, valued at $277,269.94. The trade was a 33.09% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,869 shares of company stock valued at $384,785. 0.56% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ORA shares. Robert W. Baird started coverage on Ormat Technologies in a research note on Thursday, March 13th. They set a "neutral" rating and a $81.00 price objective on the stock. Jefferies Financial Group upped their price objective on Ormat Technologies from $78.00 to $86.00 and gave the stock a "buy" rating in a research note on Tuesday, March 25th. Wall Street Zen upgraded Ormat Technologies from a "sell" rating to a "hold" rating in a research note on Monday, April 7th. Baird R W upgraded Ormat Technologies to a "hold" rating in a research note on Thursday, March 13th. Finally, JPMorgan Chase & Co. upped their price objective on Ormat Technologies from $71.00 to $75.00 and gave the stock a "neutral" rating in a research note on Friday, February 28th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Ormat Technologies has an average rating of "Hold" and an average target price of $84.14.

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.