State of New Jersey Common Pension Fund D Grows Holdings in Ormat Technologies, Inc. (NYSE:ORA)

State of New Jersey Common Pension Fund D boosted its holdings in Ormat Technologies, Inc. (NYSE:ORA) by 12.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,173 shares of the energy company’s stock after purchasing an additional 4,069 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.06% of Ormat Technologies worth $2,817,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ORA. Harel Insurance Investments & Financial Services Ltd. raised its position in Ormat Technologies by 12,165.8% in the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 691,298 shares of the energy company’s stock valued at $48,336,000 after purchasing an additional 685,662 shares during the last quarter. Impax Asset Management Group plc raised its position in 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. Van Berkom & Associates Inc. raised its position in 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. Global Alpha Capital Management Ltd. raised its position in 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. Finally, LGT Capital Partners LTD. raised its position in Ormat Technologies by 26.6% during the 4th quarter. LGT Capital Partners LTD. now owns 524,710 shares of the energy company’s stock worth $39,768,000 after buying an additional 110,330 shares during the last quarter. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. TD Cowen cut their price objective on shares of Ormat Technologies from $74.00 to $70.00 and set a “market perform” rating for the company in a research report 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 research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $81.00.

Insider Activity at Ormat Technologies

In related news, Director Stanley Stern sold 1,825 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $66.95, for a total value of $122,183.75. Following the sale, the director now directly owns 4,835 shares of the company’s stock, valued at approximately $323,703.25. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.46% of the stock is owned by corporate insiders.

Ormat Technologies Stock Performance

NYSE:ORA opened at $64.48 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 1.20 and a debt-to-equity ratio of 0.64. Ormat Technologies, Inc. has a fifty-two week low of $58.73 and a fifty-two week high of $88.26. The stock has a market cap of $3.89 billion, a PE ratio of 30.85, a price-to-earnings-growth ratio of 2.95 and a beta of 0.48. The firm’s fifty day simple moving average is $64.88 and its 200-day simple moving average is $66.95.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings results on Wednesday, February 21st. The energy company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. Ormat Technologies had a net margin of 15.00% and a return on equity of 5.09%. The business had revenue of $241.30 million for the quarter, compared to analysts’ expectations of $239.71 million. During the same period in the prior year, the company posted $0.73 EPS. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. Analysts expect that Ormat Technologies, Inc. will post 2.14 earnings per share for the current fiscal year.

Ormat Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.74%. Ormat Technologies’s dividend payout ratio (DPR) is presently 22.97%.

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.