Mercer Global Advisors Inc. ADV Acquires 44,700 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Mercer Global Advisors Inc. ADV increased its stake in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 903.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 49,647 shares of the energy company's stock after acquiring an additional 44,700 shares during the quarter. Mercer Global Advisors Inc. ADV owned about 0.08% of Ormat Technologies worth $3,362,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Pacer Advisors Inc. boosted its position in shares of Ormat Technologies by 2.0% during the fourth quarter. Pacer Advisors Inc. now owns 8,026 shares of the energy company's stock worth $544,000 after acquiring an additional 160 shares during the last quarter. Bailard Inc. lifted its position in Ormat Technologies by 0.9% during the fourth quarter. Bailard Inc. now owns 19,446 shares of the energy company's stock valued at $1,317,000 after purchasing an additional 169 shares during the last quarter. Securian Asset Management Inc. lifted its position in Ormat Technologies by 5.1% during the fourth 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. Versant Capital Management Inc lifted its position in Ormat Technologies by 132.4% during the fourth quarter. Versant Capital Management Inc now owns 402 shares of the energy company's stock valued at $27,000 after purchasing an additional 229 shares during the last quarter. Finally, Caprock Group LLC lifted its position in Ormat Technologies by 4.0% during the fourth quarter. Caprock Group LLC now owns 6,080 shares of the energy company's stock valued at $412,000 after purchasing an additional 235 shares during the last quarter. Institutional investors own 95.49% of the company's stock.

Ormat Technologies Trading Up 0.9%

Shares of ORA traded up $0.69 during midday trading on Friday, hitting $74.80. The stock had a trading volume of 321,851 shares, compared to its average volume of 485,275. Ormat Technologies, Inc. has a 1 year low of $61.58 and a 1 year high of $84.30. The firm has a market cap of $4.53 billion, a PE ratio of 38.16, a price-to-earnings-growth 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. The stock's 50 day moving average is $71.11 and its 200 day moving average is $71.64.

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, topping the consensus estimate 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 13.33% and a return on equity of 5.27%. The firm's revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.64 EPS. As a group, analysts forecast 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 paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.64%. The ex-dividend date is Wednesday, May 21st. Ormat Technologies's dividend payout ratio is presently 23.53%.

Insider Buying and Selling

In related news, Director David Granot sold 1,666 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $69.00, for a total value of $114,954.00. Following the transaction, the director now owns 1,910 shares of the company's stock, valued at $131,790. This trade represents a 46.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jessica Woelfel sold 409 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $72.15, for a total transaction of $29,509.35. Following the transaction, the insider now owns 6,094 shares in the company, valued at approximately $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. Insiders have sold 2,242 shares of company stock valued at $156,427 in the last 90 days. Company insiders own 0.56% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Jefferies Financial Group increased their price objective on shares of Ormat Technologies from $78.00 to $86.00 and gave the company a "buy" rating in a research report on Tuesday, March 25th. Baird R W upgraded shares of Ormat Technologies to a "hold" rating in a research report on Thursday, March 13th. StockNews.com upgraded 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 set a "neutral" rating and a $81.00 price objective for the company. Finally, Barclays increased 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. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Ormat Technologies has an average rating of "Hold" and an average target price of $85.38.

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.