Harel Insurance Investments & Financial Services Ltd. Acquires 172,934 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 25.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 864,232 shares of the energy company's stock after purchasing an additional 172,934 shares during the period. Ormat Technologies accounts for 1.2% of Harel Insurance Investments & Financial Services Ltd.'s portfolio, making the stock its 26th largest position. Harel Insurance Investments & Financial Services Ltd. owned about 1.43% of Ormat Technologies worth $65,500,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in Ormat Technologies by 8.2% in the 1st quarter. BlackRock Inc. now owns 8,528,140 shares of the energy company's stock worth $722,930,000 after buying an additional 643,171 shares in the last quarter. Norges Bank purchased a new position in Ormat Technologies in the 4th quarter valued at about $50,016,000. State Street Corp boosted its position in Ormat Technologies by 44.7% in the 3rd quarter. State Street Corp now owns 1,697,465 shares of the energy company's stock valued at $146,321,000 after buying an additional 524,366 shares during the last quarter. Amundi boosted its position in Ormat Technologies by 29.9% in the 4th quarter. Amundi now owns 1,566,912 shares of the energy company's stock valued at $136,253,000 after buying an additional 361,083 shares during the last quarter. Finally, Impax Asset Management Group plc boosted its position in Ormat Technologies by 15.0% in the 4th quarter. Impax Asset Management Group plc now owns 2,638,182 shares of the energy company's stock valued at $199,004,000 after buying an additional 343,650 shares during the last quarter. Institutional investors and hedge funds own 95.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. TD Cowen decreased their price objective on shares of 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. Oppenheimer decreased their price objective on shares of Ormat Technologies from $84.00 to $83.00 and set an "outperform" rating for the company in a research report on Friday, January 19th. Finally, Barclays decreased their price objective on shares of 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $81.00.

Insider Buying and Selling

In related news, Director Stanley Stern sold 1,825 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $66.95, for a total transaction of $122,183.75. Following the sale, the director now owns 4,835 shares in the company, valued at $323,703.25. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by company insiders.

Ormat Technologies Stock Down 2.7 %

Shares of ORA stock traded down $1.78 during trading hours on Friday, hitting $64.30. 743,021 shares of the company were exchanged, compared to its average volume of 406,701. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.12 and a current ratio of 1.20. Ormat Technologies, Inc. has a one year low of $58.73 and a one year high of $88.64. The business's 50-day simple moving average is $65.37 and its two-hundred day simple moving average is $67.30. The stock has a market capitalization of $3.88 billion, a price-to-earnings ratio of 30.77, a P/E/G ratio of 2.92 and a beta of 0.48.

Ormat Technologies (NYSE:ORA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The energy company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.60 by $0.07. The business had revenue of $241.30 million for the quarter, compared to analysts' expectations of $239.71 million. Ormat Technologies had a net margin of 15.00% and a return on equity of 5.09%. The company's quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.73 earnings per share. Sell-side analysts predict that Ormat Technologies, Inc. will post 2.2 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.48 annualized dividend and a yield of 0.75%. Ormat Technologies's dividend payout ratio (DPR) is 22.97%.

About Ormat Technologies

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.