Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD held its stake in Ormat Technologies, Inc. (NYSE:ORA) during the first quarter, Holdings Channel reports. The fund owned 72,116 shares of the energy company’s stock at the end of the first quarter. Ormat Technologies comprises 5.1% of Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD’s investment portfolio, making the stock its 8th largest position. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD owned 0.15% of Ormat Technologies worth $4,102,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in Ormat Technologies during the fourth quarter worth $20,143,000. Renaissance Technologies LLC boosted its stake in Ormat Technologies by 41.5% in the fourth quarter. Renaissance Technologies LLC now owns 741,257 shares of the energy company’s stock worth $39,746,000 after buying an additional 217,357 shares in the last quarter. Teachers Advisors LLC boosted its stake in Ormat Technologies by 250.2% in the fourth quarter. Teachers Advisors LLC now owns 222,435 shares of the energy company’s stock worth $11,927,000 after buying an additional 158,913 shares in the last quarter. Mitchell Capital Management Co. acquired a new stake in Ormat Technologies during the third quarter worth $6,112,000. Finally, Jane Street Group LLC boosted its stake in Ormat Technologies by 204.7% in the third quarter. Jane Street Group LLC now owns 162,658 shares of the energy company’s stock worth $7,874,000 after buying an additional 109,270 shares in the last quarter. 43.57% of the stock is owned by hedge funds and other institutional investors.
Ormat Technologies, Inc. (NYSE:ORA) traded up 0.64% during midday trading on Friday, hitting $56.93. The stock had a trading volume of 132,822 shares. Ormat Technologies, Inc. has a 1-year low of $41.12 and a 1-year high of $61.49. The stock has a market cap of $2.83 billion, a price-to-earnings ratio of 28.72 and a beta of 1.18. The company has a 50-day moving average of $57.88 and a 200-day moving average of $54.14.
Ormat Technologies (NYSE:ORA) last announced its quarterly earnings results on Monday, May 8th. The energy company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.05. The company had revenue of $189.90 million during the quarter, compared to the consensus estimate of $177.42 million. Ormat Technologies had a net margin of 13.29% and a return on equity of 9.45%. The company’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.59 earnings per share. Equities research analysts forecast that Ormat Technologies, Inc. will post $2.33 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 31st. Stockholders of record on Monday, May 22nd will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, May 18th. This represents a $0.32 annualized dividend and a dividend yield of 0.57%. Ormat Technologies’s dividend payout ratio (DPR) is presently 15.73%.
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ORA has been the subject of a number of recent analyst reports. Cowen and Company reaffirmed an “outperform” rating and set a $67.00 price target on shares of Ormat Technologies in a report on Wednesday, April 12th. Zacks Investment Research cut Ormat Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, May 4th. Barclays PLC lifted their target price on Ormat Technologies from $43.00 to $54.00 and gave the company an “underweight” rating in a research note on Monday, March 6th. Oppenheimer Holdings Inc. set a $65.00 target price on Ormat Technologies and gave the company a “buy” rating in a research note on Thursday, May 4th. Finally, Roth Capital set a $66.00 target price on Ormat Technologies and gave the company a “buy” rating in a research note on Monday, March 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. Ormat Technologies presently has an average rating of “Buy” and a consensus target price of $63.71.
In other news, Director Robert Eugene Joyal sold 7,500 shares of the company’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $57.00, for a total transaction of $427,500.00. Following the completion of the transaction, the director now directly owns 7,500 shares in the company, valued at $427,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert F. Clarke sold 15,000 shares of the company’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $56.97, for a total transaction of $854,550.00. Following the transaction, the director now owns 7,500 shares of the company’s stock, valued at $427,275. The disclosure for this sale can be found here. 22.97% of the stock is currently owned by corporate insiders.
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. 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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