Van ECK Associates Corp Buys 16,943 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Van ECK Associates Corp grew its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA) by 3.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 446,882 shares of the energy company’s stock after buying an additional 16,943 shares during the quarter. Van ECK Associates Corp’s holdings in Ormat Technologies were worth $31,072,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its stake in shares of Ormat Technologies by 3.3% during the first quarter. The Manufacturers Life Insurance Company now owns 24,595 shares of the energy company’s stock valued at $1,931,000 after purchasing an additional 787 shares in the last quarter. Great Lakes Advisors LLC acquired a new stake in shares of Ormat Technologies during the first quarter worth $222,000. Victory Capital Management Inc. raised its holdings in shares of Ormat Technologies by 62.3% during the first quarter. Victory Capital Management Inc. now owns 11,259 shares of the energy company’s stock worth $884,000 after purchasing an additional 4,321 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Ormat Technologies during the first quarter worth $327,000. Finally, Meitav Dash Investments Ltd. raised its holdings in shares of Ormat Technologies by 11.9% during the first quarter. Meitav Dash Investments Ltd. now owns 168,422 shares of the energy company’s stock worth $13,222,000 after purchasing an additional 17,923 shares during the last quarter. 84.93% of the stock is currently owned by institutional investors.

ORA has been the subject of a number of recent analyst reports. TheStreet cut shares of Ormat Technologies from a “b-” rating to a “c” rating in a report on Monday, May 24th. JPMorgan Chase & Co. lifted their target price on shares of Ormat Technologies from $83.00 to $89.00 and gave the company an “overweight” rating in a research report on Wednesday, July 21st. Finally, Roth Capital dropped their target price on shares of Ormat Technologies from $97.00 to $76.00 and set a “neutral” rating on the stock in a research report on Thursday, July 15th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Ormat Technologies has an average rating of “Buy” and an average target price of $83.17.

Ormat Technologies stock opened at $71.08 on Wednesday. The company’s 50 day simple moving average is $69.38 and its 200-day simple moving average is $71.95. The company has a market capitalization of $3.98 billion, a price-to-earnings ratio of 59.23, a price-to-earnings-growth ratio of 3.57 and a beta of 0.32. Ormat Technologies, Inc. has a 1 year low of $53.44 and a 1 year high of $128.87. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.27 and a current ratio of 2.39.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings results on Wednesday, August 4th. The energy company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.02. The business had revenue of $146.90 million for the quarter, compared to the consensus estimate of $147.75 million. Ormat Technologies had a net margin of 9.92% and a return on equity of 3.96%. The business’s revenue was down 16.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.45 EPS. Equities analysts expect that Ormat Technologies, Inc. will post 1.48 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 1st. Investors of record on Wednesday, August 18th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.68%. The ex-dividend date was Tuesday, August 17th. Ormat Technologies’s payout ratio is currently 29.09%.

Ormat Technologies Company Profile

Ormat Technologies, Inc operates as a holding company. The firm engages in the provision of geothermal and recovered energy power business. It operates through the following segments: Electricity, Product and Energy Storage. The Electricity segment focuses in the sale of electricity from the company’s power plants pursuant to PPAs.

Recommended Story: Intrinsic Value and Stock Selection

Want to see what other hedge funds are holding ORA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ormat Technologies, Inc. (NYSE:ORA).

Institutional Ownership by Quarter for Ormat Technologies (NYSE:ORA)

Receive News & Ratings for Ormat Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ormat Technologies and related companies with MarketBeat.com's FREE daily email newsletter.