Graham Capital Management L.P. Acquires 9,540 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Graham Capital Management L.P. raised its position in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 36.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,757 shares of the energy company's stock after acquiring an additional 9,540 shares during the period. Graham Capital Management L.P. owned about 0.06% of Ormat Technologies worth $2,421,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ORA. Norges Bank bought a new position in Ormat Technologies in the fourth quarter valued at approximately $62,851,000. Vanguard Group Inc. raised its holdings in Ormat Technologies by 4.8% in the 4th quarter. Vanguard Group Inc. now owns 6,043,996 shares of the energy company's stock valued at $409,305,000 after acquiring an additional 274,540 shares during the period. Impax Asset Management Group plc raised its position 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 acquired a new stake in Ormat Technologies in the fourth quarter valued at about $10,158,000. Finally, Handelsbanken Fonder AB increased its position in Ormat Technologies by 896.6% in the 4th quarter. Handelsbanken Fonder AB now owns 155,906 shares of the energy company's stock valued at $10,558,000 after acquiring an additional 140,262 shares during the period. 95.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ORA has been the subject of a number of research reports. Robert W. Baird began coverage on Ormat Technologies in a research note on Thursday, March 13th. They issued a "neutral" rating and a $81.00 price objective for the company. StockNews.com raised shares of Ormat Technologies from a "sell" rating to a "hold" rating in a research note on Monday, April 7th. Barclays increased their target price on Ormat Technologies from $75.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. boosted 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. Finally, Jefferies Financial Group raised their price target on Ormat Technologies from $78.00 to $86.00 and gave the company a "buy" rating in a report on Tuesday, March 25th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ormat Technologies currently has an average rating of "Hold" and a consensus target price of $83.29.

Insider Activity at Ormat Technologies

In related news, Director David Granot sold 950 shares of the business's stock in a transaction 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 transaction, the director now directly owns 2,713 shares in the company, valued at approximately $198,320.30. The trade was a 25.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jessica Woelfel sold 409 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $72.15, for a total value of $29,509.35. Following the transaction, the insider now owns 6,094 shares in the company, valued at approximately $439,682.10. This trade represents a 6.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,192 shares of company stock valued at $225,872 over the last ninety days. 0.56% of the stock is owned by insiders.

Ormat Technologies Price Performance

ORA traded down $0.13 during trading on Friday, reaching $75.03. 101,367 shares of the stock were exchanged, compared to its average volume of 483,160. Ormat Technologies, Inc. has a 1 year low of $61.58 and a 1 year high of $84.30. The company has a market capitalization of $4.55 billion, a price-to-earnings ratio of 38.28, a P/E/G ratio of 3.18 and a beta of 0.65. The business's 50 day moving average price is $71.36 and its two-hundred day moving average price is $71.58. 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 posted its quarterly earnings results on Wednesday, May 7th. The energy company reported $0.68 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 analyst estimates of $228.33 million. Ormat Technologies had a net margin of 13.33% and a return on equity of 5.27%. The company'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 EPS. As a group, equities research analysts anticipate that Ormat Technologies, Inc. will post 1.94 earnings per share for the current year.

Ormat Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 21st will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Wednesday, May 21st. Ormat Technologies's payout ratio is 23.30%.

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.