US Bancorp DE Purchases 328 Shares of Ormat Technologies, Inc. (NYSE:ORA)

US Bancorp DE boosted its position in shares of Ormat Technologies, Inc. (NYSE:ORAGet Rating) by 10.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,598 shares of the energy company’s stock after acquiring an additional 328 shares during the period. US Bancorp DE’s holdings in Ormat Technologies were worth $310,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ORA. Citizens Financial Group Inc RI grew its position in shares of Ormat Technologies by 11.6% during the 2nd quarter. Citizens Financial Group Inc RI now owns 6,462 shares of the energy company’s stock valued at $506,000 after purchasing an additional 671 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in Ormat Technologies during the third quarter valued at $209,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Ormat Technologies by 14.2% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,388 shares of the energy company’s stock valued at $3,791,000 after buying an additional 6,026 shares during the period. Ballentine Partners LLC purchased a new position in Ormat Technologies during the third quarter worth about $213,000. Finally, California Public Employees Retirement System increased its stake in Ormat Technologies by 3.2% in the 2nd quarter. California Public Employees Retirement System now owns 91,683 shares of the energy company’s stock worth $7,183,000 after acquiring an additional 2,838 shares during the last quarter. Institutional investors own 81.74% of the company’s stock.

Ormat Technologies Price Performance

Shares of NYSE:ORA opened at $92.21 on Wednesday. The company has a quick ratio of 1.20, a current ratio of 1.28 and a debt-to-equity ratio of 0.80. The stock has a market cap of $5.17 billion, a PE ratio of 77.49, a PEG ratio of 4.67 and a beta of 0.49. The company’s fifty day moving average is $88.81 and its 200 day moving average is $89.64. Ormat Technologies, Inc. has a 52 week low of $60.32 and a 52 week high of $101.81.

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

Ormat Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 30th. Stockholders of record on Wednesday, November 16th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend was Tuesday, November 15th. Ormat Technologies’s dividend payout ratio (DPR) is presently 40.34%.

Insider Transactions at Ormat Technologies

In related news, major shareholder Corp Orix sold 3,750,000 shares of the company’s stock in a transaction on Monday, November 21st. The shares were sold at an average price of $87.75, for a total transaction of $329,062,500.00. Following the completion of the sale, the insider now directly owns 7,238,577 shares in the company, valued at approximately $635,185,131.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Dafna Sharir sold 1,588 shares of Ormat Technologies stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of $98.00, for a total value of $155,624.00. Following the sale, the director now directly owns 2,489 shares in the company, valued at approximately $243,922. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Corp Orix sold 3,750,000 shares of the firm’s stock in a transaction on Monday, November 21st. The stock was sold at an average price of $87.75, for a total value of $329,062,500.00. Following the completion of the sale, the insider now directly owns 7,238,577 shares of the company’s stock, valued at approximately $635,185,131.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,331,557 shares of company stock worth $380,304,372. Insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

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

Ormat Technologies Company Profile

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Ormat Technologies, Inc operates as a holding company. The firm engages in the geothermal and recovered energy power businesses. It operates through the following segments: Electricity, Product and Energy Storage. The Electricity segment focuses on the sale of electricity from the company’s power plants pursuant to power purchase agreements.

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

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