Ormat Technologies, Inc. (NYSE:ORA) Shares Bought by Northern Trust Corp

Northern Trust Corp grew its holdings in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 11.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 858,674 shares of the energy company's stock after acquiring an additional 90,100 shares during the period. Northern Trust Corp owned 1.42% of Ormat Technologies worth $58,149,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Ormat Technologies by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 6,043,996 shares of the energy company's stock worth $409,305,000 after acquiring an additional 274,540 shares during the period. Impax Asset Management Group plc raised its holdings 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 worth $162,586,000 after buying an additional 163,505 shares during the period. Dimensional Fund Advisors LP increased its stake in Ormat Technologies by 6.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,586,479 shares of the energy company's stock worth $107,440,000 after purchasing an additional 93,418 shares during the period. Geode Capital Management LLC boosted its position in Ormat Technologies by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 1,373,426 shares of the energy company's stock valued at $93,029,000 after buying an additional 72,135 shares during the period. Finally, Norges Bank bought a new position in Ormat Technologies in the fourth quarter worth approximately $62,851,000. Hedge funds and other institutional investors own 95.49% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Jefferies Financial Group lifted their price objective on shares of Ormat Technologies from $78.00 to $86.00 and gave the company a "buy" rating in a report on Tuesday, March 25th. Baird R W raised shares of Ormat Technologies to a "hold" rating in a report on Thursday, March 13th. Robert W. Baird initiated coverage on shares of Ormat Technologies in a research report on Thursday, March 13th. They set a "neutral" rating and a $81.00 price target for the company. JPMorgan Chase & Co. lifted 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. Finally, StockNews.com upgraded Ormat Technologies from a "sell" rating to a "hold" rating in a research note on Monday, April 7th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $85.38.

Insider Activity

In related news, Director David Granot sold 1,666 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $69.00, for a total value of $114,954.00. Following the completion of the transaction, the director now directly 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 document filed with the SEC, which is available at this hyperlink. Also, insider Jessica Woelfel sold 409 shares of Ormat Technologies 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 of the company's stock, valued at approximately $439,682.10. The trade was a 6.29% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,242 shares of company stock worth $156,427. 0.56% of the stock is currently owned by insiders.

Ormat Technologies Trading Down 0.3%

Ormat Technologies stock traded down $0.19 during mid-day trading on Monday, hitting $74.64. The company's stock had a trading volume of 62,331 shares, compared to its average volume of 483,626. The stock's fifty day moving average is $71.11 and its two-hundred day moving average is $71.64. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $4.52 billion, a PE ratio of 38.08, a price-to-earnings-growth ratio of 3.18 and a beta of 0.65. Ormat Technologies, Inc. has a 1 year low of $61.58 and a 1 year high of $84.30.

Ormat Technologies (NYSE:ORA - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $229.76 million during the quarter, compared to analysts' expectations of $228.33 million. Ormat Technologies had a net margin of 13.33% and a return on equity of 5.27%. The business's quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 earnings per share. On average, analysts anticipate that Ormat Technologies, Inc. will post 1.94 EPS for the current year.

Ormat Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 21st will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $0.48 annualized dividend and a dividend yield of 0.64%. Ormat Technologies's dividend payout ratio (DPR) is currently 23.53%.

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.