Strs Ohio Has $405,000 Position in Ormat Technologies, Inc. (NYSE:ORA)

Strs Ohio lifted its stake in Ormat Technologies, Inc. (NYSE:ORAGet Rating) by 56.7% in the third quarter, HoldingsChannel.com reports. The firm owned 4,700 shares of the energy company’s stock after purchasing an additional 1,700 shares during the quarter. Strs Ohio’s holdings in Ormat Technologies were worth $405,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ORA. Millennium Management LLC increased its holdings in shares of Ormat Technologies by 2,082.9% in the second quarter. Millennium Management LLC now owns 779,242 shares of the energy company’s stock valued at $61,054,000 after purchasing an additional 743,545 shares in the last quarter. Amundi increased its holdings in shares of Ormat Technologies by 23.6% in the second quarter. Amundi now owns 1,120,993 shares of the energy company’s stock valued at $87,890,000 after purchasing an additional 214,353 shares in the last quarter. Meitav Dash Investments Ltd. grew its holdings in Ormat Technologies by 22.1% during the 2nd quarter. Meitav Dash Investments Ltd. now owns 754,290 shares of the energy company’s stock worth $57,740,000 after acquiring an additional 136,431 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Ormat Technologies by 121.6% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 137,809 shares of the energy company’s stock valued at $10,797,000 after acquiring an additional 75,633 shares during the last quarter. Finally, Global Alpha Capital Management Ltd. lifted its stake in shares of Ormat Technologies by 3.2% in the 2nd quarter. Global Alpha Capital Management Ltd. now owns 2,174,087 shares of the energy company’s stock valued at $166,478,000 after purchasing an additional 68,013 shares during the period. Institutional investors and hedge funds own 81.74% of the company’s stock.

Ormat Technologies Trading Down 2.6 %

NYSE ORA opened at $88.29 on Friday. The firm has a market cap of $4.95 billion, a P/E ratio of 74.19, a P/E/G ratio of 4.74 and a beta of 0.49. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.28 and a quick ratio of 1.20. The stock’s 50-day moving average is $89.35 and its 200-day moving average is $89.22. Ormat Technologies, Inc. has a one year low of $60.32 and a one year high of $101.81.

Ormat Technologies (NYSE:ORAGet Rating) last released its quarterly earnings results on Wednesday, November 2nd. The energy company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.08. The company had revenue of $175.89 million for the quarter, compared to analyst estimates of $173.11 million. Ormat Technologies had a return on equity of 3.69% and a net margin of 9.27%. Sell-side analysts anticipate that Ormat Technologies, Inc. will post 1.35 earnings per share for the current fiscal year.

Ormat Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 30th. Stockholders of record on Wednesday, November 16th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend was Tuesday, November 15th. Ormat Technologies’s dividend payout ratio is currently 40.34%.

Analysts Set New Price Targets

ORA has been the subject of a number of analyst reports. JPMorgan Chase & Co. decreased their price objective on Ormat Technologies from $97.00 to $88.00 and set a “neutral” rating for the company in a research note on Thursday, October 20th. StockNews.com raised Ormat Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, November 16th. Roth Capital reissued a “neutral” rating on shares of Ormat Technologies in a research note on Sunday, November 6th. Citigroup assumed coverage on Ormat Technologies in a research note on Thursday, October 20th. They issued a “neutral” rating and a $91.00 target price on the stock. Finally, Bank of America assumed coverage on Ormat Technologies in a research note on Tuesday, November 22nd. They issued a “neutral” rating on the stock. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $87.00.

Insider Transactions at Ormat Technologies

In related news, President Shlomi Argas sold 12,106 shares of the stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $98.25, for a total transaction of $1,189,414.50. Following the completion of the transaction, the president now directly owns 6,369 shares in the company, valued at $625,754.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, President Shlomi Argas sold 12,106 shares of the stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $98.25, for a total transaction of $1,189,414.50. Following the completion of the transaction, the president now directly owns 6,369 shares in the company, valued at $625,754.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Corp Orix sold 562,500 shares of the stock in a transaction dated Friday, November 25th. The stock was sold at an average price of $87.75, for a total value of $49,359,375.00. Following the transaction, the insider now owns 6,676,077 shares of the company’s stock, valued at $585,825,756.75. The disclosure for this sale can be found here. Insiders have sold a total of 4,331,557 shares of company stock valued at $380,304,372 over the last 90 days. 1.30% of the stock is owned by company insiders.

Ormat Technologies Profile

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Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guadeloupe, Guatemala, Ethiopia, New Zealand, Honduras, and internationally. It operates through 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.

Further Reading

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Institutional Ownership by Quarter for Ormat Technologies (NYSE:ORA)

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