California State Teachers Retirement System Boosts Stake in Ormat Technologies, Inc. $ORA

California State Teachers Retirement System boosted its position in Ormat Technologies, Inc. (NYSE:ORA) by 21.2% in the first quarter, Holdings Channel.com reports. The firm owned 69,659 shares of the energy company’s stock after buying an additional 12,199 shares during the quarter. California State Teachers Retirement System’s holdings in Ormat Technologies were worth $7,796,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. AQR Capital Management LLC raised its stake in Ormat Technologies by 324.1% during the first quarter. AQR Capital Management LLC now owns 24,918 shares of the energy company’s stock valued at $1,740,000 after buying an additional 19,043 shares during the last quarter. United Services Automobile Association purchased a new position in shares of Ormat Technologies in the 1st quarter worth about $243,000. Empowered Funds LLC raised its position in shares of Ormat Technologies by 7.3% in the 1st quarter. Empowered Funds LLC now owns 4,201 shares of the energy company’s stock worth $297,000 after purchasing an additional 286 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Ormat Technologies by 22.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 234,467 shares of the energy company’s stock worth $16,593,000 after purchasing an additional 43,483 shares in the last quarter. Finally, Intech Investment Management LLC grew its position in Ormat Technologies by 10.5% during the 1st quarter. Intech Investment Management LLC now owns 24,592 shares of the energy company’s stock valued at $1,740,000 after purchasing an additional 2,329 shares during the last quarter. Institutional investors own 95.49% of the company’s stock.

Ormat Technologies Price Performance

NYSE ORA opened at $100.06 on Wednesday. The company has a 50-day moving average price of $118.47 and a 200-day moving average price of $117.77. Ormat Technologies, Inc. has a 52 week low of $84.13 and a 52 week high of $146.39. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $6.15 billion, a P/E ratio of 48.57, a PEG ratio of 4.18 and a beta of 0.90.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.38. Ormat Technologies had a net margin of 10.97% and a return on equity of 6.61%. The company had revenue of $403.91 million for the quarter, compared to the consensus estimate of $349.17 million. During the same quarter last year, the firm posted $0.68 earnings per share. The firm’s revenue was up 75.8% compared to the same quarter last year. Equities research analysts anticipate that Ormat Technologies, Inc. will post 2.35 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on ORA. Roth Capital restated a “buy” rating and issued a $135.00 price target on shares of Ormat Technologies in a research note on Monday, May 11th. Wolfe Research assumed coverage on Ormat Technologies in a report on Monday, June 8th. They issued a “peer perform” rating for the company. UBS Group boosted their target price on Ormat Technologies from $143.00 to $152.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Oppenheimer restated an “outperform” rating and set a $144.00 target price on shares of Ormat Technologies in a research note on Friday, May 8th. Finally, Sanford C. Bernstein assumed coverage on shares of Ormat Technologies in a report on Tuesday, June 16th. They set an “underperform” rating and a $115.00 price target on the stock. Eight research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $131.75.

Insiders Place Their Bets

In other news, Director Byron G. Wong sold 4,500 shares of Ormat Technologies stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $134.32, for a total transaction of $604,440.00. Following the transaction, the director owned 5,925 shares in the company, valued at $795,846. This trade represents a 43.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Dafna Sharir sold 883 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $122.44, for a total transaction of $108,114.52. Following the sale, the director directly owned 3,140 shares of the company’s stock, valued at approximately $384,461.60. The trade was a 21.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 30,585 shares of company stock valued at $4,090,998. 0.50% of the stock is currently owned by corporate insiders.

Ormat Technologies Company Profile

Ormat Technologies, Inc is a leading renewable energy company specializing in geothermal and recovered energy power plants. Through its vertically integrated business model, Ormat designs, develops, engineers, constructs, owns and operates clean energy projects worldwide. The company’s core technology centers on the Organic Rankine Cycle (ORC), which converts heat from geothermal sources or industrial waste streams into sustainable electricity without combustion.

Ormat’s offering includes turnkey power plant solutions, proprietary ORC equipment and ongoing operations and maintenance services.