Quantamental Technologies LLC purchased a new position in shares of Ormat Technologies, Inc. (NYSE:ORA) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,003 shares of the energy company’s stock, valued at approximately $64,000.
Several other large investors have also recently added to or reduced their stakes in the company. Strs Ohio increased its holdings in shares of Ormat Technologies by 130.0% in the 2nd quarter. Strs Ohio now owns 2,300 shares of the energy company’s stock valued at $145,000 after acquiring an additional 1,300 shares during the last quarter. Mission Wealth Management LP purchased a new stake in Ormat Technologies in the 2nd quarter worth about $212,000. Prudential Financial Inc. lifted its stake in Ormat Technologies by 3.8% in the 2nd quarter. Prudential Financial Inc. now owns 4,367 shares of the energy company’s stock worth $277,000 after acquiring an additional 160 shares in the last quarter. Allianz Asset Management GmbH purchased a new stake in Ormat Technologies in the 2nd quarter worth about $331,000. Finally, Bank of Montreal Can lifted its stake in Ormat Technologies by 31.1% in the 2nd quarter. Bank of Montreal Can now owns 7,443 shares of the energy company’s stock worth $471,000 after acquiring an additional 1,764 shares in the last quarter. 75.16% of the stock is owned by institutional investors and hedge funds.
ORA stock traded down $0.67 during mid-day trading on Friday, hitting $71.77. The stock had a trading volume of 1,664 shares, compared to its average volume of 154,830. The company has a current ratio of 1.49, a quick ratio of 1.35 and a debt-to-equity ratio of 0.77. Ormat Technologies, Inc. has a 1-year low of $49.01 and a 1-year high of $74.75. The company has a fifty day moving average of $70.10 and a 200 day moving average of $61.89. The stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of 34.45, a PEG ratio of 3.66 and a beta of 1.06.
Ormat Technologies (NYSE:ORA) last issued its earnings results on Wednesday, August 7th. The energy company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.09. Ormat Technologies had a return on equity of 6.07% and a net margin of 11.98%. The company had revenue of $184.10 million for the quarter, compared to analyst estimates of $175.60 million. During the same period in the prior year, the firm posted $0.32 EPS. The business’s revenue was up 3.3% compared to the same quarter last year. As a group, sell-side analysts expect that Ormat Technologies, Inc. will post 1.77 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 20th were given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.61%. The ex-dividend date was Monday, August 19th. Ormat Technologies’s payout ratio is currently 21.15%.
ORA has been the subject of several research analyst reports. Roth Capital increased their price objective on Ormat Technologies from $67.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. UBS Group upped their target price on Ormat Technologies from $59.00 to $73.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $70.33.
In other news, Director David Granot sold 7,500 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $70.70, for a total transaction of $530,250.00. Following the transaction, the director now owns 8,861 shares of the company’s stock, valued at approximately $626,472.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ravit Barniv sold 1,714 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $73.07, for a total value of $125,241.98. Following the transaction, the director now directly owns 2,473 shares in the company, valued at approximately $180,702.11. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,712 shares of company stock worth $2,582,976. Insiders own 0.81% of the company’s stock.
Ormat Technologies Profile
Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, New Zealand, and internationally. The company operates through three segments: Electricity, Product, and Other. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants; and sells electricity.
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