16,901 Shares in Ormat Technologies, Inc. (NYSE:ORA) Purchased by TT International Asset Management LTD

TT International Asset Management LTD purchased a new position in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 16,901 shares of the energy company's stock, valued at approximately $1,196,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ORA. Empowered Funds LLC bought a new stake in Ormat Technologies during the fourth quarter valued at $265,000. Principal Financial Group Inc. lifted its stake in Ormat Technologies by 5.6% in the fourth quarter. Principal Financial Group Inc. now owns 131,906 shares of the energy company's stock valued at $8,933,000 after buying an additional 7,025 shares during the period. Handelsbanken Fonder AB boosted its holdings in shares of Ormat Technologies by 896.6% during the 4th quarter. Handelsbanken Fonder AB now owns 155,906 shares of the energy company's stock worth $10,558,000 after buying an additional 140,262 shares in the last quarter. RWC Asset Management LLP grew its position in shares of Ormat Technologies by 348.9% during the 4th quarter. RWC Asset Management LLP now owns 165,599 shares of the energy company's stock worth $11,214,000 after buying an additional 128,705 shares during the period. Finally, Impax Asset Management Group plc grew its position in shares of Ormat Technologies by 7.3% during the 4th quarter. Impax Asset Management Group plc now owns 2,415,479 shares of the energy company's stock worth $162,586,000 after buying an additional 163,505 shares during the period. Institutional investors and hedge funds own 95.49% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Baird R W raised shares of Ormat Technologies to a "hold" rating in a research report on Thursday, March 13th. Barclays upgraded shares of Ormat Technologies from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $80.00 to $86.00 in a report on Friday, June 6th. JPMorgan Chase & Co. upped their target price on shares of Ormat Technologies from $71.00 to $75.00 and gave the stock a "neutral" rating in a report on Friday, February 28th. Wall Street Zen raised Ormat Technologies from a "sell" rating to a "hold" rating in a report on Monday, April 7th. Finally, Jefferies Financial Group upped their price target on Ormat Technologies from $78.00 to $86.00 and gave the stock a "buy" rating in a report on Tuesday, March 25th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Ormat Technologies presently has a consensus rating of "Hold" and a consensus target price of $84.14.

Ormat Technologies Price Performance

NYSE:ORA traded down $0.27 during mid-day trading on Tuesday, hitting $86.32. 501,367 shares of the stock traded hands, compared to its average volume of 487,454. The business's 50-day moving average price is $75.18 and its 200 day moving average price is $70.87. The company has a quick ratio of 0.90, a current ratio of 0.97 and a debt-to-equity ratio of 0.77. The company 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, Inc. has a 12-month low of $61.58 and a 12-month high of $88.69.

Ormat Technologies (NYSE:ORA - Get Free Report) last announced its 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. Ormat Technologies had a net margin of 14.18% and a return on equity of 5.35%. The business had revenue of $229.76 million during the quarter, compared to analyst estimates of $228.33 million. During the same period in the previous year, the business posted $0.64 earnings per share. Ormat Technologies's revenue for the quarter was up 2.5% on a year-over-year basis. On average, analysts expect that Ormat Technologies, Inc. will post 1.94 EPS for the current fiscal year.

Ormat Technologies Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Dafna Sharir sold 876 shares of Ormat Technologies stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $75.00, for a total value of $65,700.00. Following the sale, the director now directly owns 4,438 shares in the company, valued at approximately $332,850. This trade represents a 16.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stanley Stern sold 547 shares of the business's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $85.54, for a total value of $46,790.38. Following the transaction, the director now directly owns 6,137 shares in the company, valued at $524,958.98. This trade represents a 8.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,869 shares of company stock valued at $384,785 over the last three months. Insiders own 0.56% of the company's stock.

Ormat Technologies 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.