Quantbot Technologies LP Invests $4.12 Million in Ormat Technologies, Inc. $ORA

Key Points

• Quantbot Technologies LP acquired a new stake in Ormat Technologies by purchasing 58,165 shares valued at approximately $4.1 million, representing about 0.10% of the company.
• A significant increase in institutional ownership is noted, with 95.49% of the stock now owned by institutional investors and hedge funds, including notable increases by firms like Dimensional Fund Advisors and Harel Insurance.
• Ormat Technologies announced a quarterly dividend of $0.12 per share set to be paid on September 3rd, with a payout ratio of 22.33% and an annualized yield of 0.5%.

Quantbot Technologies LP purchased a new stake in Ormat Technologies, Inc. (NYSE:ORA - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 58,165 shares of the energy company's stock, valued at approximately $4,116,000. Quantbot Technologies LP owned about 0.10% of Ormat Technologies as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Stuart Chaussee & Associates Inc. bought a new position in shares of Ormat Technologies in the fourth quarter valued at about $34,000. UMB Bank n.a. raised its holdings 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 buying an additional 263 shares during the last quarter. Signaturefd LLC raised its holdings in Ormat Technologies by 60.6% during the 1st quarter. Signaturefd LLC now owns 890 shares of the energy company's stock worth $63,000 after purchasing an additional 336 shares during the last quarter. CWM LLC raised its holdings in Ormat Technologies by 294.2% during the 1st quarter. CWM LLC now owns 887 shares of the energy company's stock worth $63,000 after purchasing an additional 662 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in Ormat Technologies by 30.7% during the 1st quarter. Russell Investments Group Ltd. now owns 1,072 shares of the energy company's stock worth $76,000 after purchasing an additional 252 shares during the last quarter. 95.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ORA shares. Cowen reissued a "hold" rating on shares of Ormat Technologies in a report on Friday, August 8th. Roth Capital reissued a "buy" rating and set a $98.00 price objective (up from $88.00) on shares of Ormat Technologies in a report on Tuesday, August 5th. Robert W. Baird raised Ormat Technologies from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $87.00 to $103.00 in a report on Wednesday, July 30th. JPMorgan Chase & Co. boosted their price objective on Ormat Technologies from $75.00 to $85.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Finally, UBS Group boosted their price objective on Ormat Technologies from $100.00 to $105.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Ormat Technologies presently has an average rating of "Moderate Buy" and an average price target of $93.30.

Insiders Place Their Bets

In related news, Director Stanley Stern sold 547 shares of the business's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $85.54, for a total value of $46,790.38. Following the completion of the transaction, the director directly owned 6,137 shares in the company, valued at approximately $524,958.98. The trade was a 8.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michal Marom sold 895 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $73.47, for a total transaction of $65,755.65. Following the transaction, the director directly owned 3,080 shares of the company's stock, valued at $226,287.60. This represents a 22.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,038 shares of company stock valued at $337,192 over the last 90 days. 0.56% of the stock is owned by company insiders.

Ormat Technologies Stock Down 1.8%

Shares of ORA traded down $1.68 on Monday, hitting $93.17. The company's stock had a trading volume of 161,001 shares, compared to its average volume of 512,582. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.77. The firm's fifty day moving average price is $87.65 and its 200-day moving average price is $76.95. 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 $5.66 billion, a price-to-earnings ratio of 43.31, a P/E/G ratio of 4.41 and a beta of 0.68.

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

Ormat Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th will be given a $0.12 dividend. The ex-dividend date is Wednesday, August 20th. This represents a $0.48 annualized dividend and a dividend yield of 0.5%. Ormat Technologies's payout ratio is currently 22.33%.

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.