Public Employees Retirement System of Ohio bought a new position in shares of Ormat Technologies, Inc. (NYSE:ORA) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 9,065 shares of the energy company’s stock, valued at approximately $532,000.
A number of other institutional investors have also bought and sold shares of the stock. Royal Bank of Canada grew its position in Ormat Technologies by 1.7% during the second quarter. Royal Bank of Canada now owns 2,008 shares of the energy company’s stock worth $117,000 after buying an additional 34 shares in the last quarter. Psagot Investment House Ltd. boosted its holdings in shares of Ormat Technologies by 1.6% in the 2nd quarter. Psagot Investment House Ltd. now owns 2,661 shares of the energy company’s stock worth $156,000 after purchasing an additional 43 shares in the last quarter. Hanseatic Management Services Inc. boosted its holdings in shares of Ormat Technologies by 1.0% in the 2nd quarter. Hanseatic Management Services Inc. now owns 4,940 shares of the energy company’s stock worth $290,000 after purchasing an additional 48 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of Ormat Technologies by 2.2% in the 2nd quarter. Sei Investments Co. now owns 2,266 shares of the energy company’s stock worth $133,000 after purchasing an additional 49 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Ormat Technologies by 1.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 11,350 shares of the energy company’s stock worth $670,000 after purchasing an additional 150 shares in the last quarter. Institutional investors and hedge funds own 45.96% of the company’s stock.
Shares of Ormat Technologies, Inc. (ORA) opened at $63.23 on Monday. Ormat Technologies, Inc. has a 52 week low of $45.67 and a 52 week high of $65.91. The company has a quick ratio of 1.62, a current ratio of 1.72 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $3,199.26, a PE ratio of 27.98, a PEG ratio of 2.10 and a beta of 1.25.
Ormat Technologies (NYSE:ORA) last released its earnings results on Tuesday, November 7th. The energy company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.06). Ormat Technologies had a net margin of 16.99% and a return on equity of 9.41%. The company had revenue of $157.20 million during the quarter, compared to the consensus estimate of $159.02 million. During the same period last year, the firm posted $0.56 EPS. The company’s revenue was down 14.8% on a year-over-year basis. analysts expect that Ormat Technologies, Inc. will post 2.24 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 21st will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date is Monday, November 20th. Ormat Technologies’s dividend payout ratio (DPR) is presently 13.73%.
In other Ormat Technologies news, VP Erez Klein sold 24,576 shares of the company’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $59.03, for a total transaction of $1,450,721.28. Following the completion of the transaction, the vice president now owns 23,890 shares of the company’s stock, valued at approximately $1,410,226.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Shlomi Argas sold 11,523 shares of the company’s stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $59.50, for a total value of $685,618.50. Following the transaction, the vice president now directly owns 1,734 shares of the company’s stock, valued at approximately $103,173. The disclosure for this sale can be found here. In the last three months, insiders sold 84,359 shares of company stock valued at $5,013,332. 14.74% of the stock is currently owned by corporate insiders.
A number of research firms have recently issued reports on ORA. Zacks Investment Research cut Ormat Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. TheStreet cut Ormat Technologies from a “b” rating to a “c+” rating in a report on Monday, August 14th. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $70.00 price objective (up from $65.00) on shares of Ormat Technologies in a report on Wednesday, September 27th. Finally, Cowen and Company set a $67.00 price objective on Ormat Technologies and gave the stock a “buy” rating in a report on Monday, July 17th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $66.38.
Ormat Technologies Profile
Ormat Technologies, Inc is engaged in the geothermal and recovered energy power business. The Company designs, develops, builds, owns and operates geothermal and recovered energy-based power plants. Its equipment manufacturing operations are located in Israel. It conducts its business activities in two business segments: Electricity segment and Product segment.
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