Bank of Montreal Can boosted its stake in Ormat Technologies, Inc. (NYSE:ORA) by 25.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,380 shares of the energy company’s stock after buying an additional 2,879 shares during the quarter. Bank of Montreal Can’s holdings in Ormat Technologies were worth $920,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in ORA. Royal Bank of Canada lifted its position in Ormat Technologies by 1.7% in the 2nd quarter. Royal Bank of Canada now owns 2,008 shares of the energy company’s stock worth $117,000 after buying an additional 34 shares in the last quarter. Advisor Group Inc. lifted its position in Ormat Technologies by 153.2% in the 2nd quarter. Advisor Group Inc. now owns 2,302 shares of the energy company’s stock worth $135,000 after buying an additional 1,393 shares in the last quarter. Great West Life Assurance Co. Can lifted its position in Ormat Technologies by 42.3% in the 3rd quarter. Great West Life Assurance Co. Can now owns 4,665 shares of the energy company’s stock worth $295,000 after buying an additional 1,386 shares in the last quarter. Sei Investments Co. lifted its position in Ormat Technologies by 126.9% in the 3rd quarter. Sei Investments Co. now owns 5,142 shares of the energy company’s stock worth $314,000 after buying an additional 2,876 shares in the last quarter. Finally, Harrington Investments INC bought a new position in shares of Ormat Technologies during the 3rd quarter valued at $334,000. Institutional investors own 46.32% of the company’s stock.
ORA has been the topic of a number of recent research reports. Zacks Investment Research downgraded shares of Ormat Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Guggenheim initiated coverage on shares of Ormat Technologies in a report on Monday, January 8th. They set a “buy” rating and a $72.00 price target on the stock. JPMorgan Chase & Co. raised their price target on shares of Ormat Technologies from $72.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, January 25th. Roth Capital set a $70.00 price target on shares of Ormat Technologies and gave the company a “buy” rating in a report on Monday, November 13th. Finally, Cowen restated a “buy” rating and set a $75.00 price target on shares of Ormat Technologies in a report on Wednesday, January 24th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $71.14.
Ormat Technologies, Inc. (NYSE ORA) opened at $64.97 on Monday. The firm has a market cap of $3,290.00, a price-to-earnings ratio of 27.88, a PEG ratio of 1.91 and a beta of 1.22. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.62 and a current ratio of 1.72. Ormat Technologies, Inc. has a twelve month low of $54.75 and a twelve month high of $70.68.
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Ormat Technologies Company Profile
Ormat Technologies, Inc is engaged in the geothermal and recovered energy power business. The Company designs, develops, builds, owns and operates geothermal and recovered energy-based power plants. Its equipment manufacturing operations are located in Israel. It conducts its business activities in two business segments: Electricity segment and Product segment.
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