Ormat Technologies, Inc. (NYSE:ORA) Shares Bought by Ballentine Partners LLC

Ballentine Partners LLC grew its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 54.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,182 shares of the energy company’s stock after purchasing an additional 2,537 shares during the quarter. Ballentine Partners LLC’s holdings in Ormat Technologies were worth $475,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Evexia Wealth LLC raised its holdings in Ormat Technologies by 2.7% during the fourth quarter. Evexia Wealth LLC now owns 6,096 shares of the energy company’s stock worth $462,000 after purchasing an additional 160 shares in the last quarter. LGT Capital Partners LTD. grew its position in shares of Ormat Technologies by 26.6% during the fourth quarter. LGT Capital Partners LTD. now owns 524,710 shares of the energy company’s stock worth $39,768,000 after acquiring an additional 110,330 shares during the last quarter. Capstone Investment Advisors LLC grew its position in shares of Ormat Technologies by 265.2% during the fourth quarter. Capstone Investment Advisors LLC now owns 14,293 shares of the energy company’s stock worth $1,083,000 after acquiring an additional 10,379 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its position in shares of Ormat Technologies by 25.0% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 864,232 shares of the energy company’s stock worth $65,500,000 after acquiring an additional 172,934 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Ormat Technologies by 2.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,256,304 shares of the energy company’s stock worth $95,220,000 after acquiring an additional 31,450 shares during the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

Insiders Place Their Bets

In other news, Director Stanley Stern sold 1,825 shares of Ormat Technologies stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $66.95, for a total transaction of $122,183.75. Following the completion of the transaction, the director now owns 4,835 shares of the company’s stock, valued at approximately $323,703.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director David Granot sold 686 shares of Ormat Technologies stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $73.46, for a total transaction of $50,393.56. Following the completion of the transaction, the director now owns 4,832 shares of the company’s stock, valued at approximately $354,958.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Stanley Stern sold 1,825 shares of Ormat Technologies stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $66.95, for a total value of $122,183.75. Following the transaction, the director now directly owns 4,835 shares of the company’s stock, valued at approximately $323,703.25. The disclosure for this sale can be found here. Insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. TD Cowen raised their target price on shares of Ormat Technologies from $70.00 to $76.00 and gave the stock a “hold” rating in a research report on Friday, May 10th. Barclays lowered their target price on shares of Ormat Technologies from $75.00 to $73.00 and set an “equal weight” rating on the stock in a research report on Monday, May 13th. Oppenheimer raised their target price on shares of Ormat Technologies from $83.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, UBS Group lifted their price objective on shares of Ormat Technologies from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, May 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $84.17.

Ormat Technologies Stock Performance

NYSE:ORA opened at $73.05 on Tuesday. The firm has a market cap of $4.41 billion, a price-to-earnings ratio of 32.91, a price-to-earnings-growth ratio of 3.50 and a beta of 0.53. Ormat Technologies, Inc. has a 1-year low of $58.73 and a 1-year high of $85.82. The firm’s fifty day moving average price is $70.44 and its 200 day moving average price is $68.82. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.12 and a quick ratio of 1.02.

Ormat Technologies (NYSE:ORA) last issued its earnings results on Wednesday, May 8th. The energy company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.03). The company had revenue of $224.17 million for the quarter, compared to analysts’ expectations of $224.38 million. Ormat Technologies had a return on equity of 5.45% and a net margin of 15.43%. On average, sell-side analysts expect that Ormat Technologies, Inc. will post 2.07 EPS for the current year.

Ormat Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 22nd were given a dividend of $0.12 per share. The ex-dividend date was Tuesday, May 21st. This represents a $0.48 annualized dividend and a dividend yield of 0.66%. Ormat Technologies’s payout ratio is currently 21.62%.

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.