Great West Life Assurance Co. Can continued to hold its position in Ormat Technologies Inc. (NYSE:ORA) during the second quarter, Holdings Channel reports. The firm owned 3,278 shares of the company’s stock at the end of the second quarter. Great West Life Assurance Co. Can’s holdings in Ormat Technologies were worth $135,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Old Mutual Global Investors UK Ltd. bought a new stake in shares of Ormat Technologies during the second quarter worth $216,000. NN Investment Partners Holdings N.V. increased its stake in shares of Ormat Technologies by 7.5% in the second quarter. NN Investment Partners Holdings N.V. now owns 24,084 shares of the company’s stock worth $1,054,000 after buying an additional 1,684 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in shares of Ormat Technologies by 13.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,004,355 shares of the company’s stock worth $41,420,000 after buying an additional 116,906 shares during the period. Zebra Capital Management LLC increased its stake in shares of Ormat Technologies by 53.9% in the first quarter. Zebra Capital Management LLC now owns 17,271 shares of the company’s stock worth $712,000 after buying an additional 6,049 shares during the period. Finally, Menta Capital LLC increased its stake in shares of Ormat Technologies by 210.9% in the first quarter. Menta Capital LLC now owns 29,561 shares of the company’s stock worth $1,219,000 after buying an additional 20,053 shares during the period. Institutional investors and hedge funds own 41.27% of the company’s stock.
Ormat Technologies Inc. (NYSE:ORA) traded up 0.28% during trading on Friday, hitting $50.17. 80,351 shares of the stock were exchanged. Ormat Technologies Inc. has a 52 week low of $32.25 and a 52 week high of $51.19. The stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of 16.68 and a beta of 1.16. The firm has a 50-day moving average of $48.58 and a 200-day moving average of $44.31.
Ormat Technologies (NYSE:ORA) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.49 EPS for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.07. The business had revenue of $159.90 million for the quarter, compared to analyst estimates of $152.88 million. Ormat Technologies had a net margin of 23.05% and a return on equity of 9.18%. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.28 earnings per share. Equities research analysts anticipate that Ormat Technologies Inc. will post $1.94 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 30th. Shareholders of record on Tuesday, August 16th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.56%. The ex-dividend date was Friday, August 12th. Ormat Technologies’s dividend payout ratio (DPR) is currently 9.49%.
A number of analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Ormat Technologies from a “buy” rating to a “hold” rating in a report on Thursday, July 7th. Roth Capital assumed coverage on shares of Ormat Technologies in a report on Thursday, July 28th. They issued a “buy” rating and a $50.00 price target for the company. Oppenheimer Holdings Inc. assumed coverage on shares of Ormat Technologies in a report on Thursday, September 8th. They issued an “outperform” rating and a $54.00 price target for the company. Finally, JPMorgan Chase & Co. reissued a “hold” rating on shares of Ormat Technologies in a report on Wednesday, August 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $46.80.
In other Ormat Technologies news, VP Shimon Hatzir sold 2,857 shares of the company’s stock in a transaction on Thursday, June 30th. The shares were sold at an average price of $43.50, for a total transaction of $124,279.50. Following the sale, the vice president now directly owns 2,857 shares of the company’s stock, valued at $124,279.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Granot sold 3,500 shares of the company’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $48.27, for a total transaction of $168,945.00. Following the sale, the director now directly owns 3,500 shares in the company, valued at $168,945. The disclosure for this sale can be found here. Company insiders own 22.97% of the company’s stock.
About Ormat Technologies
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. The Company’s equipment manufacturing operations are located in Israel. The Company conducts its business activities in two business segments: Electricity segment and Product segment.
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