Teacher Retirement System of Texas bought a new stake in Ormat Technologies, Inc. (NYSE:ORA - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 8,374 shares of the energy company's stock, valued at approximately $593,000.
Other large investors also recently made changes to their positions in the company. Victory Capital Management Inc. grew its stake in shares of Ormat Technologies by 1.8% during the fourth quarter. Victory Capital Management Inc. now owns 18,896 shares of the energy company's stock valued at $1,280,000 after purchasing an additional 336 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Ormat Technologies in the 4th quarter valued at $766,000. Raymond James Financial Inc. bought a new stake in shares of Ormat Technologies during the fourth quarter worth $204,000. AlphaQuest LLC lifted its stake in shares of Ormat Technologies by 4,691.7% during the fourth 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 period. Finally, Securian Asset Management Inc. boosted its stake in shares of Ormat Technologies by 5.1% in the 4th quarter. Securian Asset Management Inc. now owns 4,354 shares of the energy company's stock valued at $295,000 after purchasing an additional 212 shares during the last quarter. Institutional investors own 95.49% of the company's stock.
Ormat Technologies Price Performance
Shares of NYSE ORA opened at $86.80 on Wednesday. The stock has a market capitalization of $5.26 billion, a PE ratio of 42.14, a P/E/G ratio of 4.22 and a beta of 0.64. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.97 and a quick ratio of 0.90. Ormat Technologies, Inc. has a fifty-two week low of $61.58 and a fifty-two week high of $88.60. The business has a fifty day moving average price of $79.48 and a two-hundred day moving average price of $72.39.
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. The company had revenue of $229.76 million for the quarter, compared to the consensus estimate of $228.33 million. Ormat Technologies had a net margin of 14.18% and a return on equity of 5.35%. The firm's quarterly revenue was up 2.5% compared to the same quarter last year. During the same period last year, the company posted $0.64 EPS. As a group, equities analysts predict that Ormat Technologies, Inc. will post 1.94 earnings per share for the current fiscal year.
Ormat Technologies Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 21st were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend was Wednesday, May 21st. Ormat Technologies's payout ratio is 23.30%.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on ORA shares. Barclays lifted their price objective on shares of Ormat Technologies from $86.00 to $90.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Jefferies Financial Group raised their price objective on Ormat Technologies from $78.00 to $86.00 and gave the company a "buy" rating in a research report on Tuesday, March 25th. 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. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $84.71.
Check Out Our Latest Research Report on Ormat Technologies
Insider Activity at Ormat Technologies
In other Ormat Technologies news, Director David Granot sold 950 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $73.10, for a total transaction of $69,445.00. Following the sale, the director directly owned 2,713 shares of the company's stock, valued at $198,320.30. The trade was a 25.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michal Marom sold 895 shares of Ormat Technologies stock in a transaction 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 owned 3,080 shares in the company, valued at approximately $226,287.60. This trade represents a 22.52% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,329 shares of company stock valued at $423,443. Corporate insiders own 0.56% of the company's stock.
About Ormat Technologies
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding ORA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ormat Technologies, Inc. (NYSE:ORA - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Ormat Technologies, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ormat Technologies wasn't on the list.
While Ormat Technologies currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
