Impax Asset Management Group plc Has $199 Million Holdings in Ormat Technologies, Inc. (NYSE:ORA)

Impax Asset Management Group plc lifted its position in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 15.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,638,182 shares of the energy company's stock after acquiring an additional 343,650 shares during the quarter. Impax Asset Management Group plc owned 4.37% of Ormat Technologies worth $199,004,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Guinness Asset Management LTD grew its position in shares of Ormat Technologies by 5.7% in the 3rd quarter. Guinness Asset Management LTD now owns 518,360 shares of the energy company's stock worth $36,234,000 after acquiring an additional 28,058 shares in the last quarter. Guinness Atkinson Asset Management Inc boosted its position in Ormat Technologies by 1.2% during the 3rd quarter. Guinness Atkinson Asset Management Inc now owns 15,944 shares of the energy company's stock valued at $1,115,000 after purchasing an additional 194 shares during the period. LGT Capital Partners LTD. boosted its position in Ormat Technologies by 26.6% during the 4th quarter. LGT Capital Partners LTD. now owns 524,710 shares of the energy company's stock valued at $39,768,000 after purchasing an additional 110,330 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new position in Ormat Technologies during the 4th quarter valued at approximately $1,516,000. Finally, Jupiter Asset Management Ltd. boosted its position in Ormat Technologies by 32.1% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 185,147 shares of the energy company's stock valued at $12,945,000 after purchasing an additional 44,979 shares during the period. Institutional investors and hedge funds own 95.49% of the company's stock.

Ormat Technologies Stock Performance

ORA stock traded up $1.56 during trading on Tuesday, reaching $66.40. 446,139 shares of the company's stock were exchanged, compared to its average volume of 448,477. The company has a quick ratio of 1.12, a current ratio of 1.20 and a debt-to-equity ratio of 0.64. Ormat Technologies, Inc. has a 1-year low of $58.73 and a 1-year high of $88.64. The company's fifty day moving average price is $65.41 and its 200-day moving average price is $67.45. The firm has a market cap of $4.01 billion, a PE ratio of 31.77, a P/E/G ratio of 2.89 and a beta of 0.48.

Ormat Technologies (NYSE:ORA - Get Free Report) last announced its quarterly earnings results on Wednesday, February 21st. The energy company reported $0.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.07. Ormat Technologies had a return on equity of 5.09% and a net margin of 15.00%. The company had revenue of $241.30 million during the quarter, compared to analyst estimates of $239.71 million. During the same quarter in the previous year, the firm posted $0.73 EPS. The firm's quarterly revenue was up 17.4% on a year-over-year basis. On average, research analysts expect that Ormat Technologies, Inc. will post 2.2 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were issued a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.48 annualized dividend and a dividend yield of 0.72%. Ormat Technologies's dividend payout ratio (DPR) is 22.97%.

Analyst Upgrades and Downgrades

ORA has been the subject of a number of analyst reports. TD Cowen reduced their price objective on Ormat Technologies from $74.00 to $70.00 and set a "market perform" rating for the company in a research report on Friday, February 23rd. Barclays reduced their price objective on Ormat Technologies from $82.00 to $75.00 and set an "equal weight" rating for the company in a research report on Monday, February 5th. Finally, Oppenheimer reduced their price objective on Ormat Technologies from $84.00 to $83.00 and set an "outperform" rating for the company in a research report on Friday, January 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $81.00.

Insider Activity

In other news, Director Stanley Stern sold 1,825 shares of the company's stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $66.95, for a total value of $122,183.75. Following the completion of the sale, the director now owns 4,835 shares in the company, valued at $323,703.25. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.46% 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.