Ormat Technologies, Inc. $ORA Stock Acquired by Phoenix Financial Ltd.

Phoenix Financial Ltd. lifted its position in Ormat Technologies, Inc. (NYSE:ORA) by 191.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,614,749 shares of the energy company’s stock after acquiring an additional 1,060,468 shares during the period. Ormat Technologies comprises about 1.0% of Phoenix Financial Ltd.’s investment portfolio, making the stock its 27th biggest holding. Phoenix Financial Ltd.’s holdings in Ormat Technologies were worth $147,733,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Ormat Technologies during the second quarter valued at approximately $896,374,000. Clal Insurance Enterprises Holdings Ltd purchased a new position in Ormat Technologies in the 2nd quarter worth approximately $259,568,000. Canada Pension Plan Investment Board purchased a new position in Ormat Technologies in the 2nd quarter worth approximately $173,638,000. Legal & General Group Plc bought a new position in Ormat Technologies in the 2nd quarter valued at approximately $77,650,000. Finally, Van Berkom & Associates Inc. lifted its position in Ormat Technologies by 47.2% in the 3rd quarter. Van Berkom & Associates Inc. now owns 706,446 shares of the energy company’s stock valued at $64,633,000 after acquiring an additional 226,654 shares in the last quarter. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the company. Jefferies Financial Group reiterated a “hold” rating and set a $117.00 target price on shares of Ormat Technologies in a research note on Wednesday, September 9th. Weiss Ratings restated a “hold (c)” rating on shares of Ormat Technologies in a research note on Thursday, October 15th. Wall Street Zen raised Ormat Technologies from a “strong sell” rating to a “sell” rating in a report on Sunday, October 11th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $130.00 price target on shares of Ormat Technologies in a report on Wednesday, September 9th. Finally, Zacks Research raised Ormat Technologies from a “strong sell” rating to a “hold” rating in a research report on Monday, November 9th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $124.15.

Ormat Technologies Stock Performance

Shares of ORA stock traded down $0.17 during trading hours on Friday, reaching $90.28. The company had a trading volume of 710,433 shares, compared to its average volume of 881,697. The business has a fifty day moving average price of $92.51 and a 200-day moving average price of $110.15. Ormat Technologies, Inc. has a one year low of $85.77 and a one year high of $146.39. The firm has a market cap of $5.55 billion, a PE ratio of 41.99, a price-to-earnings-growth ratio of 3.14 and a beta of 0.89. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.88 and a current ratio of 0.92.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings data on Wednesday, November 4th. The energy company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.23. The firm had revenue of $275.12 million during the quarter, compared to analysts’ expectations of $248.36 million. Ormat Technologies had a net margin of 11.07% and a return on equity of 6.90%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.41 earnings per share. Sell-side analysts predict that Ormat Technologies, Inc. will post 2.88 earnings per share for the current fiscal year.

Ormat Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 2nd. Shareholders of record on Wednesday, November 18th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, November 18th. Ormat Technologies’s payout ratio is 22.33%.

About Ormat Technologies

Ormat Technologies is a renewable energy company that develops, owns and operates geothermal power plants and recovered energy generation facilities. It also provides equipment and services for geothermal projects, including its Ormat Energy Converter technology, which converts heat from geothermal resources and industrial processes into electricity. The company’s activities include project development and engineering, construction, plant operation and maintenance, and energy storage. Its geothermal and energy storage operations serve markets in the United States and internationally, including countries in Central America, the Caribbean, Africa and Asia.