AQR Capital Management LLC Grows Stake in Ormat Technologies, Inc. (NYSE:ORA)

AQR Capital Management LLC lifted its stake in Ormat Technologies, Inc. (NYSE:ORA) by 45.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,809 shares of the energy company’s stock after purchasing an additional 1,811 shares during the quarter. AQR Capital Management LLC’s holdings in Ormat Technologies were worth $417,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of ORA. GAMMA Investing LLC lifted its position in Ormat Technologies by 115.3% in the 2nd quarter. GAMMA Investing LLC now owns 730 shares of the energy company’s stock valued at $52,000 after acquiring an additional 391 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Ormat Technologies during the first quarter valued at $50,000. PNC Financial Services Group Inc. increased its holdings in Ormat Technologies by 50.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,540 shares of the energy company’s stock worth $117,000 after buying an additional 514 shares in the last quarter. nVerses Capital LLC increased its holdings in Ormat Technologies by 311.1% in the 2nd quarter. nVerses Capital LLC now owns 3,700 shares of the energy company’s stock worth $265,000 after buying an additional 2,800 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in Ormat Technologies in the 1st quarter worth about $246,000. Institutional investors own 95.49% of the company’s stock.

Analyst Ratings Changes

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

Insider Activity

In related news, Director Dafna Sharir sold 433 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $74.91, for a total value of $32,436.03. Following the completion of the sale, the director now directly owns 3,561 shares of the company’s stock, valued at approximately $266,754.51. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Dafna Sharir sold 433 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $74.91, for a total value of $32,436.03. Following the completion of the sale, the director now directly owns 3,561 shares of the company’s stock, valued at approximately $266,754.51. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 directly owns 6,906 shares of the company’s stock, valued at $517,811.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Ormat Technologies Price Performance

NYSE ORA opened at $77.02 on Wednesday. Ormat Technologies, Inc. has a 52 week low of $58.73 and a 52 week high of $78.51. The firm has a market capitalization of $4.65 billion, a P/E ratio of 34.69, a PEG ratio of 3.92 and a beta of 0.53. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.72. The company has a 50-day moving average price of $74.58 and a 200-day moving average price of $72.18.

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

Ormat Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.62%. The ex-dividend date was Tuesday, August 20th. Ormat Technologies’s payout ratio is currently 21.62%.

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.