Raymond James & Associates Raises Stock Position in Ormat Technologies, Inc. (NYSE:ORA)

Raymond James & Associates grew its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 6.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,666 shares of the energy company’s stock after acquiring an additional 743 shares during the period. Raymond James & Associates’ holdings in Ormat Technologies were worth $884,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Guinness Atkinson Asset Management Inc raised its holdings in Ormat Technologies by 1.2% during the third quarter. Guinness Atkinson Asset Management Inc now owns 15,944 shares of the energy company’s stock worth $1,115,000 after purchasing an additional 194 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Ormat Technologies by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 15,300 shares of the energy company’s stock worth $1,070,000 after buying an additional 207 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of Ormat Technologies by 4.5% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 7,698 shares of the energy company’s stock worth $538,000 after buying an additional 334 shares in the last quarter. Inspire Investing LLC grew its stake in Ormat Technologies by 12.8% in the 3rd quarter. Inspire Investing LLC now owns 4,400 shares of the energy company’s stock valued at $308,000 after acquiring an additional 501 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Ormat Technologies by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 200,054 shares of the energy company’s stock valued at $13,988,000 after acquiring an additional 587 shares in the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on ORA shares. Oppenheimer lowered their price target on shares of Ormat Technologies from $84.00 to $83.00 and set an “outperform” rating on the stock in a research report on Friday, January 19th. Barclays dropped their price target on shares of Ormat Technologies from $82.00 to $75.00 and set an “equal weight” rating for the company in a research report on Monday, February 5th. Finally, TD Cowen decreased their price target on shares of Ormat Technologies from $74.00 to $70.00 and set a “market perform” rating on the stock in a report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $81.00.

Ormat Technologies Trading Up 1.3 %

NYSE ORA opened at $64.57 on Tuesday. The firm has a market capitalization of $3.90 billion, a price-to-earnings ratio of 30.89, a PEG ratio of 2.98 and a beta of 0.48. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.12 and a current ratio of 1.20. Ormat Technologies, Inc. has a one year low of $58.73 and a one year high of $88.64. The company’s 50 day moving average price is $65.02 and its 200 day moving average price is $67.05.

Ormat Technologies (NYSE:ORA) last issued its earnings results on Wednesday, February 21st. The energy company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. Ormat Technologies had a net margin of 15.00% and a return on equity of 5.09%. The business had revenue of $241.30 million for the quarter, compared to the consensus estimate of $239.71 million. During the same quarter last year, the firm posted $0.73 EPS. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. On average, sell-side analysts predict that Ormat Technologies, Inc. will post 2.14 EPS for the current year.

Ormat Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend was Tuesday, March 5th. Ormat Technologies’s dividend payout ratio (DPR) is 22.97%.

Insider Activity at Ormat Technologies

In other news, Director Stanley Stern sold 1,825 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 4,835 shares in the company, valued at $323,703.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.46% 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.