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

Graham Capital Management L.P. grew its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 36.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 35,757 shares of the energy company's stock after acquiring an additional 9,540 shares during the quarter. Graham Capital Management L.P. owned 0.06% of Ormat Technologies worth $2,421,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ORA. 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 worth $8,933,000 after purchasing an additional 7,025 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of 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 last quarter. Element Capital Management LLC bought a new stake in shares of Ormat Technologies in the 4th quarter valued at about $2,113,000. Daiwa Securities Group Inc. purchased a new stake in Ormat Technologies during the 4th quarter valued at about $752,000. Finally, Franklin Resources Inc. bought a new position in Ormat Technologies during the 4th quarter worth approximately $526,000. 95.49% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Ormat Technologies news, Director David Granot sold 1,666 shares of Ormat Technologies stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $69.00, for a total value of $114,954.00. Following the completion of the sale, the director now owns 1,910 shares of the company's stock, valued at approximately $131,790. The trade was a 46.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jessica Woelfel sold 409 shares of the stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $72.15, for a total value of $29,509.35. Following the transaction, the insider now directly owns 6,094 shares in the company, valued at $439,682.10. The trade was a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,242 shares of company stock valued at $156,427. 0.56% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ORA has been the subject of a number of analyst reports. Baird R W raised Ormat Technologies to a "hold" rating in a research note on Thursday, March 13th. StockNews.com raised shares of Ormat Technologies from a "sell" rating to a "hold" rating in a research report on Monday, April 7th. Robert W. Baird assumed coverage on shares of Ormat Technologies in a research report on Thursday, March 13th. They issued a "neutral" rating and a $81.00 price objective on the stock. Barclays raised their target price on Ormat Technologies from $75.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Thursday. Finally, JPMorgan Chase & Co. upped their price target on Ormat Technologies from $71.00 to $75.00 and gave the company a "neutral" rating in a research report on Friday, February 28th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Ormat Technologies currently has an average rating of "Hold" and a consensus target price of $85.38.

Ormat Technologies Trading Up 0.9 %

NYSE:ORA opened at $74.80 on Friday. The firm has a market capitalization of $4.53 billion, a P/E ratio of 38.16, a PEG 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, Inc. has a one year low of $61.58 and a one year high of $84.30. The company's 50-day simple moving average is $71.11 and its 200 day simple moving average is $71.68.

Ormat Technologies (NYSE:ORA - Get Free Report) last released its earnings results on Wednesday, May 7th. The energy company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.58 by $0.10. The business had revenue of $229.76 million for 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 revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.64 earnings per share. As a group, analysts forecast that Ormat Technologies, Inc. will post 1.94 EPS for the current fiscal year.

Ormat Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Wednesday, May 21st will be issued a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $0.48 annualized dividend and a yield of 0.64%. Ormat Technologies's payout ratio is 23.53%.

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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