Y.D. More Investments Ltd Grows Stake in Ormat Technologies, Inc. (NYSE:ORA)

Y.D. More Investments Ltd boosted its position in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 39.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,599 shares of the energy company's stock after purchasing an additional 14,600 shares during the period. Y.D. More Investments Ltd owned about 0.09% of Ormat Technologies worth $3,911,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Ormat Technologies by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 5,285,456 shares of the energy company's stock worth $369,559,000 after buying an additional 42,266 shares during the last quarter. Impax Asset Management Group plc boosted its stake in shares of Ormat Technologies by 15.0% during the 4th quarter. Impax Asset Management Group plc now owns 2,638,182 shares of the energy company's stock worth $199,004,000 after buying an additional 343,650 shares during the last quarter. Global Alpha Capital Management Ltd. boosted its stake in shares of Ormat Technologies by 6.4% during the 3rd quarter. Global Alpha Capital Management Ltd. now owns 2,117,339 shares of the energy company's stock worth $149,232,000 after buying an additional 127,149 shares during the last quarter. Van Berkom & Associates Inc. boosted its stake in shares of Ormat Technologies by 32.0% during the 3rd quarter. Van Berkom & Associates Inc. now owns 1,035,686 shares of the energy company's stock worth $72,415,000 after buying an additional 250,884 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of Ormat Technologies by 25.0% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 864,232 shares of the energy company's stock worth $65,500,000 after buying an additional 172,934 shares during the last quarter. Institutional investors own 95.49% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ORA shares. TD Cowen cut their target price on shares of Ormat Technologies from $74.00 to $70.00 and set a "market perform" rating for the company in a research note on Friday, February 23rd. Oppenheimer cut 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 cut 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 assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Ormat Technologies presently has a consensus rating of "Hold" and an average target price of $81.00.

Ormat Technologies Stock Performance

ORA stock traded up $1.91 during mid-day trading on Wednesday, hitting $65.74. 384,886 shares of the company were exchanged, compared to its average volume of 478,486. The business has a 50 day simple moving average of $64.77 and a 200-day simple moving average of $66.91. The company has a current ratio of 1.20, a quick ratio of 1.12 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $3.97 billion, a PE ratio of 30.54, a price-to-earnings-growth ratio of 3.02 and a beta of 0.48. Ormat Technologies, Inc. has a 1-year low of $58.73 and a 1-year high of $88.26.

Ormat Technologies (NYSE:ORA - Get Free Report) last announced its 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. Ormat Technologies had a net margin of 15.00% and a return on equity of 5.09%. The company had revenue of $241.30 million for the quarter, compared to analysts' expectations of $239.71 million. During the same period last year, the firm earned $0.73 earnings per share. The business's revenue for the quarter was up 17.4% on a year-over-year basis. On average, equities analysts forecast that Ormat Technologies, Inc. will post 2.14 earnings per share for the current year.

Ormat Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were issued a dividend of $0.12 per share. The ex-dividend date was Tuesday, March 5th. This represents a $0.48 annualized dividend and a dividend yield of 0.73%. Ormat Technologies's dividend payout ratio is presently 22.97%.

Insider Transactions at Ormat Technologies

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