Thrivent Financial for Lutherans Boosts Stock Holdings in Ormat Technologies, Inc. (NYSE:ORA)

Thrivent Financial for Lutherans boosted its stake in shares of Ormat Technologies, Inc. (NYSE:ORA – Get Rating) by 9.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,069 shares of the energy company’s stock after acquiring an additional 1,145 shares during the period. Thrivent Financial for Lutherans’ holdings in Ormat Technologies were worth $1,130,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. US Bancorp DE lifted its position in Ormat Technologies by 10.5% during the first quarter. US Bancorp DE now owns 3,963 shares of the energy company’s stock valued at $324,000 after purchasing an additional 375 shares during the last quarter. AlphaCrest Capital Management LLC bought a new position in Ormat Technologies during the first quarter valued at $360,000. Bank of Montreal Can lifted its position in Ormat Technologies by 2.5% during the first quarter. Bank of Montreal Can now owns 14,424 shares of the energy company’s stock valued at $1,150,000 after purchasing an additional 355 shares during the last quarter. MetLife Investment Management LLC lifted its position in Ormat Technologies by 57.7% during the first quarter. MetLife Investment Management LLC now owns 24,095 shares of the energy company’s stock valued at $1,972,000 after purchasing an additional 8,812 shares during the last quarter. Finally, BlackRock Inc. lifted its position in Ormat Technologies by 0.5% during the first quarter. BlackRock Inc. now owns 4,650,385 shares of the energy company’s stock valued at $380,541,000 after purchasing an additional 20,844 shares during the last quarter. 81.74% of the stock is owned by hedge funds and other institutional investors.

Ormat Technologies Trading Up 1.7 %

Shares of ORA opened at $84.80 on Tuesday. Ormat Technologies, Inc. has a 1-year low of $67.28 and a 1-year high of $101.81. The company has a 50-day moving average of $84.43 and a 200 day moving average of $88.08. The firm has a market capitalization of $5.06 billion, a price-to-earnings ratio of 62.81, a PEG ratio of 3.97 and a beta of 0.46. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.07 and a quick ratio of 1.96.

Ormat Technologies (NYSE:ORA – Get Rating) last announced its quarterly earnings data on Tuesday, May 9th. The energy company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02. Ormat Technologies had a net margin of 10.39% and a return on equity of 4.86%. The company had revenue of $185.20 million during the quarter, compared to analyst estimates of $212.86 million. During the same quarter last year, the business posted $0.35 EPS. The firm’s revenue for the quarter was up .8% on a year-over-year basis. On average, research analysts expect that Ormat Technologies, Inc. will post 2.1 EPS for the current year.

Ormat Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 6th. Shareholders of record on Tuesday, May 23rd will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Monday, May 22nd. Ormat Technologies’s dividend payout ratio (DPR) is 35.56%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. StockNews.com assumed coverage on shares of Ormat Technologies in a research report on Thursday, May 18th. They set a “sell” rating for the company. Roth Mkm lowered their target price on shares of Ormat Technologies from $104.00 to $93.00 and set a “neutral” rating for the company in a report on Monday, February 27th. Barclays started coverage on shares of Ormat Technologies in a report on Monday. They issued an “equal weight” rating and a $89.00 target price for the company. Citigroup lowered their target price on shares of Ormat Technologies from $91.00 to $88.00 and set a “neutral” rating for the company in a report on Monday, March 27th. Finally, Oppenheimer lowered their target price on shares of Ormat Technologies from $106.00 to $96.00 and set an “outperform” rating for the company in a report on Friday, February 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Ormat Technologies has a consensus rating of “Hold” and a consensus price target of $91.86.

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.