Algert Global LLC Invests $392,000 in Ormat Technologies, Inc. (NYSE:ORA)

Algert Global LLC acquired a new position in Ormat Technologies, Inc. (NYSE:ORA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,472 shares of the energy company’s stock, valued at approximately $392,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ORA. Wellington Management Group LLP increased its stake in shares of Ormat Technologies by 3.5% in the fourth quarter. Wellington Management Group LLP now owns 1,041,169 shares of the energy company’s stock worth $78,910,000 after purchasing an additional 35,665 shares in the last quarter. Vanguard Group Inc. grew its stake in Ormat Technologies by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 5,324,628 shares of the energy company’s stock valued at $403,554,000 after buying an additional 39,172 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Ormat Technologies by 1.0% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 124,981 shares of the energy company’s stock valued at $9,472,000 after acquiring an additional 1,192 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Ormat Technologies by 50.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,540 shares of the energy company’s stock worth $117,000 after acquiring an additional 514 shares in the last quarter. Finally, Bridge Creek Capital Management LLC boosted its holdings in shares of Ormat Technologies by 2.8% in the first quarter. Bridge Creek Capital Management LLC now owns 36,831 shares of the energy company’s stock worth $2,438,000 after acquiring an additional 1,010 shares during the period. 95.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ORA shares. Oppenheimer boosted their price objective on Ormat Technologies from $85.00 to $86.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. increased their price target on shares of Ormat Technologies from $69.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $80.00 price objective on shares of Ormat Technologies in a research note on Monday, August 12th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Ormat Technologies has an average rating of “Moderate Buy” and a consensus price target of $81.67.

Ormat Technologies Stock Down 0.2 %

Shares of NYSE:ORA opened at $75.90 on Tuesday. The firm has a market capitalization of $4.59 billion, a PE ratio of 34.19, a price-to-earnings-growth ratio of 3.94 and a beta of 0.53. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.89 and a current ratio of 0.97. Ormat Technologies, Inc. has a 52-week low of $58.73 and a 52-week high of $78.51. The firm has a fifty day moving average of $74.51 and a 200 day moving average of $71.75.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings data on Tuesday, August 6th. The energy company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. The firm had revenue of $212.96 million during the quarter, compared to analysts’ expectations of $214.07 million. Ormat Technologies had a return on equity of 5.40% and a net margin of 14.89%. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.40 EPS. As a group, research analysts anticipate that Ormat Technologies, Inc. will post 1.94 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.63%. The ex-dividend date was Tuesday, August 20th. Ormat Technologies’s dividend payout ratio (DPR) is presently 21.62%.

Insider Transactions at Ormat Technologies

In related news, Director Dafna Sharir sold 433 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $74.91, for a total transaction of $32,436.03. Following the transaction, the director now owns 3,561 shares of the company’s stock, valued at approximately $266,754.51. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Byron G. Wong sold 1,266 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $74.98, for a total transaction of $94,924.68. Following the completion of the sale, the director now owns 6,906 shares of the company’s stock, valued at approximately $517,811.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Dafna Sharir sold 433 shares of Ormat Technologies stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $74.91, for a total transaction of $32,436.03. Following the completion of the transaction, the director now directly owns 3,561 shares in the company, valued at approximately $266,754.51. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

About Ormat Technologies

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.