Louisiana State Employees Retirement System Takes Position in Ormat Technologies, Inc. (NYSE:ORA)

Louisiana State Employees Retirement System acquired a new position in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 15,100 shares of the energy company's stock, valued at approximately $1,144,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Envestnet Portfolio Solutions Inc. acquired a new stake in Ormat Technologies during the third quarter worth $204,000. Allspring Global Investments Holdings LLC increased its stake in Ormat Technologies by 56.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,186 shares of the energy company's stock valued at $223,000 after acquiring an additional 1,153 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in Ormat Technologies in the third quarter worth about $230,000. Prime Capital Investment Advisors LLC bought a new position in Ormat Technologies during the fourth quarter worth about $257,000. Finally, Inspire Investing LLC lifted its stake in Ormat Technologies by 12.8% during the third quarter. Inspire Investing LLC now owns 4,400 shares of the energy company's stock worth $308,000 after purchasing an additional 501 shares during the period. 95.49% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Stanley Stern sold 1,825 shares of the firm's stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $66.95, for a total value of $122,183.75. Following the transaction, the director now owns 4,835 shares of the company's stock, valued at approximately $323,703.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.46% of the company's stock.

Ormat Technologies Price Performance

Shares of ORA stock traded down $0.21 during trading hours on Wednesday, hitting $64.96. 434,992 shares of the company's stock were exchanged, compared to its average volume of 477,930. Ormat Technologies, Inc. has a 52 week low of $58.73 and a 52 week high of $88.64. The stock has a market cap of $3.92 billion, a price-to-earnings ratio of 31.10, a price-to-earnings-growth ratio of 3.02 and a beta of 0.48. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.20 and a quick ratio of 1.12. The stock's 50-day moving average is $65.04 and its 200-day moving average is $67.03.

Ormat Technologies (NYSE:ORA - Get Free Report) last posted its quarterly earnings data on Wednesday, February 21st. The energy company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.07. The firm had revenue of $241.30 million during 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%. Ormat Technologies's revenue was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.73 EPS. As a group, research analysts forecast that Ormat Technologies, Inc. will post 2.14 EPS for the current year.

Ormat Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.74%. The ex-dividend date was Tuesday, March 5th. Ormat Technologies's dividend payout ratio is 22.97%.

Wall Street Analysts Forecast Growth

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

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.