Great Lakes Advisors LLC Purchases 1,165 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Great Lakes Advisors LLC lifted its holdings in Ormat Technologies, Inc. (NYSE:ORA) by 27.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 5,444 shares of the energy company’s stock after buying an additional 1,165 shares during the period. Great Lakes Advisors LLC’s holdings in Ormat Technologies were worth $413,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in ORA. Vanguard Group Inc. raised its position in Ormat Technologies by 0.8% in the third quarter. Vanguard Group Inc. now owns 5,285,456 shares of the energy company’s stock worth $369,559,000 after acquiring an additional 42,266 shares during the period. Impax Asset Management Group plc raised its holdings in Ormat Technologies by 15.0% in the 4th quarter. Impax Asset Management Group plc now owns 2,638,182 shares of the energy company’s stock worth $199,004,000 after purchasing an additional 343,650 shares during the period. Global Alpha Capital Management Ltd. lifted its position in Ormat Technologies by 6.4% during the third quarter. Global Alpha Capital Management Ltd. now owns 2,117,339 shares of the energy company’s stock valued at $149,232,000 after purchasing an additional 127,149 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in 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 valued at $95,220,000 after purchasing an additional 31,450 shares during the period. Finally, Van Berkom & Associates Inc. increased its position in Ormat Technologies by 32.0% in the third quarter. Van Berkom & Associates Inc. now owns 1,035,686 shares of the energy company’s stock worth $72,415,000 after buying an additional 250,884 shares in the last quarter. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on ORA shares. UBS Group lifted their price objective on Ormat Technologies from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, May 14th. Barclays lowered their price target on shares of Ormat Technologies from $75.00 to $73.00 and set an “equal weight” rating on the stock in a report on Monday, May 13th. Finally, TD Cowen increased their price objective on shares of Ormat Technologies from $70.00 to $76.00 and gave the stock a “hold” rating in a research note on Friday, May 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Ormat Technologies presently has an average rating of “Hold” and an average price target of $84.29.

Ormat Technologies Price Performance

Shares of NYSE:ORA opened at $73.11 on Thursday. The firm has a market cap of $4.42 billion, a price-to-earnings ratio of 32.93, a P/E/G ratio of 3.49 and a beta of 0.48. The firm has a fifty day moving average price of $66.25 and a 200 day moving average price of $67.50. Ormat Technologies, Inc. has a fifty-two week low of $58.73 and a fifty-two week high of $88.26. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.02 and a current ratio of 1.12.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings data on Wednesday, February 21st. The energy company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. The firm had revenue of $241.30 million during the quarter, compared to analyst estimates of $239.71 million. Ormat Technologies had a return on equity of 5.45% and a net margin of 15.43%. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.73 earnings per share. As a group, sell-side analysts expect that Ormat Technologies, Inc. will post 2.07 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 22nd will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date is Tuesday, May 21st. Ormat Technologies’s payout ratio is 21.62%.

Insider Transactions at Ormat Technologies

In related news, Director Stanley Stern sold 1,825 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $66.95, for a total value 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.00% of the company’s stock.

Ormat Technologies Company 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.