44,923 Shares in Ormat Technologies, Inc. (NYSE:ORA) Bought by Squarepoint Ops LLC

Squarepoint Ops LLC bought a new position in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 44,923 shares of the energy company's stock, valued at approximately $3,042,000. Squarepoint Ops LLC owned approximately 0.07% of Ormat Technologies as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Norges Bank acquired a new position in Ormat Technologies during the 4th quarter worth approximately $62,851,000. Vanguard Group Inc. boosted its position in Ormat Technologies by 4.8% during the 4th quarter. Vanguard Group Inc. now owns 6,043,996 shares of the energy company's stock worth $409,305,000 after acquiring an additional 274,540 shares during the last quarter. Impax Asset Management Group plc grew its stake in shares of Ormat Technologies by 7.3% in the fourth quarter. Impax Asset Management Group plc now owns 2,415,479 shares of the energy company's stock valued at $162,586,000 after buying an additional 163,505 shares in the last quarter. Soros Fund Management LLC bought a new position in shares of Ormat Technologies in the fourth quarter valued at $10,158,000. Finally, Handelsbanken Fonder AB grew its stake in shares of Ormat Technologies by 896.6% in the fourth quarter. Handelsbanken Fonder AB now owns 155,906 shares of the energy company's stock valued at $10,558,000 after buying an additional 140,262 shares in the last quarter. 95.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

ORA has been the subject of several analyst reports. Baird R W raised shares of Ormat Technologies to a "hold" rating in a research note on Thursday, March 13th. Jefferies Financial Group raised their target price 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. JPMorgan Chase & Co. raised their target price on shares of Ormat Technologies from $71.00 to $75.00 and gave the company a "neutral" rating in a research note on Friday, February 28th. Barclays raised their target price on shares of Ormat Technologies from $75.00 to $80.00 and gave the company an "equal weight" rating in a research note on Thursday, May 8th. Finally, Wall Street Zen raised shares of Ormat Technologies from a "sell" rating to a "hold" rating in a research note on Monday, April 7th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $83.29.

Ormat Technologies Stock Performance

Ormat Technologies stock traded up $0.85 during mid-day trading on Friday, hitting $74.49. 478,839 shares of the company's stock traded hands, compared to its average volume of 484,006. The firm has a 50 day simple moving average of $71.67 and a two-hundred day simple moving average of $70.91. Ormat Technologies, Inc. has a fifty-two week low of $61.58 and a fifty-two week high of $84.30. The stock has a market cap of $4.51 billion, a price-to-earnings ratio of 38.01, a P/E/G ratio of 3.18 and a beta of 0.65. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.87.

Ormat Technologies (NYSE:ORA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The energy company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.10. The business had revenue of $229.76 million during the quarter, compared to the consensus estimate of $228.33 million. Ormat Technologies had a return on equity of 5.27% and a net margin of 13.33%. The company's quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.64 EPS. On average, research analysts expect that Ormat Technologies, Inc. will post 1.94 EPS for the current fiscal 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. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date is Wednesday, May 21st. Ormat Technologies's payout ratio is currently 23.30%.

Insider Buying and Selling

In other Ormat Technologies news, Director Dafna Sharir sold 876 shares of Ormat Technologies 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 transaction, the director now owns 4,438 shares in the company, valued at $332,850. The trade was a 16.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David Granot sold 1,666 shares of the business's stock in a transaction dated 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 owns 1,910 shares in the company, valued at approximately $131,790. This trade represents a 46.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,068 shares of company stock worth $291,572. Company insiders own 0.56% of the company's stock.

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.