Psagot Value Holdings Ltd. Israel Takes $229,000 Position in Ormat Technologies, Inc. (NYSE:ORA)

Psagot Value Holdings Ltd. Israel acquired a new position in shares of Ormat Technologies, Inc. (NYSE:ORA) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,731 shares of the energy company’s stock, valued at approximately $229,000.

Other hedge funds have also recently made changes to their positions in the company. Rhumbline Advisers increased its stake in Ormat Technologies by 1.5% during the first quarter. Rhumbline Advisers now owns 168,295 shares of the energy company’s stock worth $14,266,000 after purchasing an additional 2,426 shares during the period. Lord Abbett & CO. LLC acquired a new stake in Ormat Technologies during the 4th quarter worth approximately $234,000. Mutual of America Capital Management LLC boosted its position in Ormat Technologies by 5.5% in the 1st quarter. Mutual of America Capital Management LLC now owns 42,215 shares of the energy company’s stock valued at $3,579,000 after buying an additional 2,186 shares during the period. Tower Research Capital LLC TRC boosted its position in Ormat Technologies by 71.8% in the 1st quarter. Tower Research Capital LLC TRC now owns 2,336 shares of the energy company’s stock valued at $198,000 after buying an additional 976 shares during the period. Finally, Citigroup Inc. grew its stake in shares of Ormat Technologies by 6.4% in the first quarter. Citigroup Inc. now owns 50,067 shares of the energy company’s stock worth $4,244,000 after acquiring an additional 3,003 shares in the last quarter. Hedge funds and other institutional investors own 88.24% of the company’s stock.

Ormat Technologies Price Performance

ORA stock opened at $74.85 on Thursday. The stock has a market cap of $4.51 billion, a price-to-earnings ratio of 48.29, a PEG ratio of 1.52 and a beta of 0.45. Ormat Technologies, Inc. has a fifty-two week low of $74.04 and a fifty-two week high of $101.81. The company has a quick ratio of 1.69, a current ratio of 1.79 and a debt-to-equity ratio of 0.67. The business has a 50 day moving average price of $78.51 and a 200 day moving average price of $82.43.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings data on Wednesday, August 2nd. The energy company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.02. The business had revenue of $194.80 million during the quarter, compared to the consensus estimate of $196.74 million. Ormat Technologies had a net margin of 11.74% and a return on equity of 5.17%. The company’s revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.22 EPS. Equities research analysts anticipate that Ormat Technologies, Inc. will post 2.14 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 30th. Shareholders of record on Wednesday, August 16th were paid a $0.12 dividend. The ex-dividend date was Tuesday, August 15th. This represents a $0.48 annualized dividend and a yield of 0.64%. Ormat Technologies’s dividend payout ratio is presently 30.97%.

Wall Street Analyst Weigh In

ORA has been the topic of several analyst reports. Roth Mkm upgraded Ormat Technologies from a “neutral” rating to a “buy” rating and set a $92.00 price objective on the stock in a research note on Monday, August 7th. Barclays initiated coverage on Ormat Technologies in a research note on Monday, May 22nd. They issued an “equal weight” rating and a $89.00 price objective for the company. Bank of America upped their target price on shares of Ormat Technologies from $85.00 to $87.00 in a research note on Wednesday, June 14th. StockNews.com began coverage on shares of Ormat Technologies in a report on Thursday, August 17th. They issued a “sell” rating on the stock. Finally, TheStreet cut shares of Ormat Technologies from a “b-” rating to a “c+” rating in a report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Ormat Technologies currently has a consensus rating of “Hold” and an average price target of $92.29.

Insiders Place Their Bets

In related news, CEO Doron Blachar sold 11,315 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $75.58, for a total value of $855,187.70. Following the completion of the sale, the chief executive officer now directly owns 17,934 shares of the company’s stock, valued at approximately $1,355,451.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Isaac Angel sold 26,144 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $75.50, for a total transaction of $1,973,872.00. Following the transaction, the director now directly owns 15,789 shares in the company, valued at $1,192,069.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Doron Blachar sold 11,315 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $75.58, for a total transaction of $855,187.70. Following the completion of the sale, the chief executive officer now owns 17,934 shares of the company’s stock, valued at approximately $1,355,451.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 63,032 shares of company stock valued at $4,762,366. 1.00% of the stock is currently owned by insiders.

Ormat Technologies Company Profile

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.