Ormat Technologies, Inc. (NYSE:ORA) Shares Purchased by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund raised its stake in Ormat Technologies, Inc. (NYSE:ORA) by 15.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 144,778 shares of the energy company’s stock after buying an additional 19,797 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.24% of Ormat Technologies worth $9,583,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Impax Asset Management Group plc grew its holdings in shares of Ormat Technologies by 15.0% during the fourth quarter. Impax Asset Management Group plc now owns 2,638,182 shares of the energy company’s stock valued at $199,004,000 after buying an additional 343,650 shares in the last quarter. Norges Bank bought a new stake in shares of Ormat Technologies in the 4th quarter valued at approximately $25,709,000. Global Alpha Capital Management Ltd. increased its stake in shares of Ormat Technologies by 9.3% during the 4th quarter. Global Alpha Capital Management Ltd. now owns 2,313,856 shares of the energy company’s stock worth $177,552,000 after purchasing an additional 196,517 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its holdings in Ormat Technologies by 25.0% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 864,232 shares of the energy company’s stock valued at $65,500,000 after buying an additional 172,934 shares in the last quarter. Finally, LGT Capital Partners LTD. raised its stake in shares of Ormat Technologies by 26.6% in the 4th quarter. LGT Capital Partners LTD. now owns 524,710 shares of the energy company’s stock valued at $39,768,000 after acquiring an additional 110,330 shares in the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

Ormat Technologies Trading Down 0.3 %

Shares of ORA stock traded down $0.24 during trading hours on Thursday, reaching $76.40. The company had a trading volume of 204,835 shares, compared to its average volume of 476,394. Ormat Technologies, Inc. has a 1-year low of $58.73 and a 1-year high of $84.19. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.12 and a quick ratio of 1.02. The firm has a market cap of $4.62 billion, a price-to-earnings ratio of 34.52, a P/E/G ratio of 3.81 and a beta of 0.51. The company has a 50 day moving average of $73.39 and a 200 day moving average of $68.61.

Ormat Technologies (NYSE:ORA) last announced its quarterly earnings results on Wednesday, May 8th. The energy company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.03). Ormat Technologies had a return on equity of 5.45% and a net margin of 15.43%. The firm had revenue of $224.17 million for the quarter, compared to the consensus estimate of $224.38 million. On average, equities research analysts anticipate that Ormat Technologies, Inc. will post 2 EPS for the current year.

Ormat Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 22nd were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $0.48 annualized dividend and a yield of 0.63%. Ormat Technologies’s dividend payout ratio (DPR) is currently 21.62%.

Analysts Set New Price Targets

Several research firms recently issued reports on ORA. Oppenheimer upped their price objective on shares of Ormat Technologies from $83.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, June 21st. JPMorgan Chase & Co. lifted their price target on shares of Ormat Technologies from $69.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. Barclays dropped their target price on Ormat Technologies from $75.00 to $73.00 and set an “equal weight” rating for the company in a report on Monday, May 13th. UBS Group lifted their price target on shares of Ormat Technologies from $95.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. Finally, TD Cowen raised their target price on Ormat Technologies from $70.00 to $76.00 and gave the company a “hold” rating in a research note on Friday, May 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $83.50.

Insider Buying and Selling at Ormat Technologies

In other news, Director David Granot sold 686 shares of the stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $73.46, for a total transaction of $50,393.56. Following the completion of the sale, the director now owns 4,832 shares of the company’s stock, valued at $354,958.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.00% 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, Guadeloupe, New Zealand, Honduras, and internationally. It operates in three segments: Electricity, Product, and Energy Storage. The Electricity segment develops, builds, owns, and operates geothermal, solar photovoltaic, and recovered energy-based power plants; and sells electricity.