Sherbrooke Park Advisers LLC Purchases Shares of 4,223 Ormat Technologies, Inc. (NYSE:ORA)

Sherbrooke Park Advisers LLC purchased a new stake in Ormat Technologies, Inc. (NYSE:ORA - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 4,223 shares of the energy company's stock, valued at approximately $286,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Inspire Investing LLC raised its holdings in shares of Ormat Technologies by 11.0% in the 4th quarter. Inspire Investing LLC now owns 5,914 shares of the energy company's stock valued at $400,000 after purchasing an additional 586 shares in the last quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management raised its holdings in shares of Ormat Technologies by 57.3% in the 4th quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management now owns 223,937 shares of the energy company's stock valued at $15,165,000 after purchasing an additional 81,547 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Ormat Technologies by 2.0% in the 4th quarter. Pacer Advisors Inc. now owns 8,026 shares of the energy company's stock valued at $544,000 after purchasing an additional 160 shares in the last quarter. Perigon Wealth Management LLC raised its holdings in shares of Ormat Technologies by 16.4% in the 4th quarter. Perigon Wealth Management LLC now owns 3,162 shares of the energy company's stock valued at $214,000 after purchasing an additional 446 shares in the last quarter. Finally, Caprock Group LLC raised its holdings in shares of Ormat Technologies by 4.0% in the 4th quarter. Caprock Group LLC now owns 6,080 shares of the energy company's stock valued at $412,000 after purchasing an additional 235 shares in the last quarter. Hedge funds and other institutional investors own 95.49% of the company's stock.

Wall Street Analyst Weigh In

ORA has been the topic of a number of analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Ormat Technologies from $71.00 to $75.00 and gave the company a "neutral" rating in a report on Friday, February 28th. 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 report on Tuesday, March 25th. Barclays raised their price objective on shares of Ormat Technologies from $75.00 to $80.00 and gave the company an "equal weight" rating in a report on Thursday, May 8th. Baird R W upgraded shares of Ormat Technologies to a "hold" rating in a research note on Thursday, March 13th. Finally, Robert W. Baird began coverage on shares of Ormat Technologies in a research note on Thursday, March 13th. They set a "neutral" rating and a $81.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Ormat Technologies has a consensus rating of "Hold" and a consensus price target of $83.29.

Ormat Technologies Trading Up 0.2%

NYSE ORA opened at $75.12 on Tuesday. 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 firm has a market cap of $4.55 billion, a PE ratio of 38.33, a P/E/G ratio of 3.18 and a beta of 0.65. Ormat Technologies, Inc. has a one year low of $61.58 and a one year high of $84.30. The firm's fifty day moving average is $71.52 and its two-hundred day moving average is $71.40.

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

Ormat Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 21st will be paid 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 yield of 0.64%. Ormat Technologies's dividend payout ratio is presently 23.30%.

Insider Buying and Selling at Ormat Technologies

In other news, Director David Granot sold 950 shares of Ormat Technologies stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $73.10, for a total value of $69,445.00. Following the sale, the director now owns 2,713 shares of the company's stock, valued at $198,320.30. The trade was a 25.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jessica Woelfel sold 409 shares of Ormat Technologies stock in a transaction dated 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 directly owns 6,094 shares in the company, valued at approximately $439,682.10. The trade was a 6.29% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,192 shares of company stock worth $225,872. 0.56% of the stock is owned by company insiders.

Ormat Technologies Company 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.

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