Sei Investments Co. raised its holdings in Ormat Technologies, Inc. (NYSE:ORA) by 2.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,266 shares of the energy company’s stock after acquiring an additional 49 shares during the quarter. Sei Investments Co.’s holdings in Ormat Technologies were worth $133,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. UBS Asset Management Americas Inc. lifted its holdings in Ormat Technologies by 45.8% in the first quarter. UBS Asset Management Americas Inc. now owns 16,671 shares of the energy company’s stock valued at $952,000 after acquiring an additional 5,233 shares during the period. Stevens Capital Management LP acquired a new stake in Ormat Technologies in the first quarter valued at $226,000. BlackRock Inc. lifted its holdings in Ormat Technologies by 6,068.3% in the first quarter. BlackRock Inc. now owns 2,473,872 shares of the energy company’s stock valued at $141,210,000 after acquiring an additional 2,433,766 shares during the period. US Bancorp DE lifted its holdings in Ormat Technologies by 33.6% in the first quarter. US Bancorp DE now owns 2,169 shares of the energy company’s stock valued at $124,000 after acquiring an additional 545 shares during the period. Finally, Oxford Asset Management acquired a new stake in Ormat Technologies in the first quarter valued at $281,000. 46.42% of the stock is owned by institutional investors.
In other news, Director Robert Eugene Joyal sold 7,500 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $57.75, for a total value of $433,125.00. Following the completion of the sale, the director now owns 7,500 shares in the company, valued at $433,125. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Zvi Krieger sold 7,704 shares of the company’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $57.81, for a total value of $445,368.24. Following the completion of the sale, the vice president now owns 7,704 shares of the company’s stock, valued at approximately $445,368.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,041,383 shares of company stock valued at $629,370,732. Insiders own 22.97% of the company’s stock.
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Ormat Technologies, Inc. (ORA) opened at 57.05 on Wednesday. The stock has a 50 day moving average price of $57.40 and a 200-day moving average price of $57.99. The stock has a market cap of $2.85 billion, a PE ratio of 26.03 and a beta of 1.20. Ormat Technologies, Inc. has a 12 month low of $45.30 and a 12 month high of $61.49.
Ormat Technologies (NYSE:ORA) last announced its quarterly earnings results on Thursday, August 3rd. The energy company reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.03. The company had revenue of $179.36 million during the quarter, compared to analyst estimates of $169.80 million. Ormat Technologies had a return on equity of 10.25% and a net margin of 15.36%. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 EPS. On average, analysts expect that Ormat Technologies, Inc. will post $2.29 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 29th. Stockholders of record on Tuesday, August 15th were issued a $0.08 dividend. The ex-dividend date was Friday, August 11th. This represents a $0.32 annualized dividend and a dividend yield of 0.56%. Ormat Technologies’s dividend payout ratio (DPR) is 14.61%.
A number of equities research analysts have commented on ORA shares. BidaskClub raised Ormat Technologies from a “hold” rating to a “buy” rating in a report on Saturday, June 10th. Zacks Investment Research raised Ormat Technologies from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a report on Tuesday, August 8th. Cowen and Company set a $67.00 target price on Ormat Technologies and gave the company a “buy” rating in a report on Monday, July 17th. TheStreet downgraded Ormat Technologies from a “b” rating to a “c+” rating in a report on Monday, August 14th. Finally, Barclays PLC raised Ormat Technologies from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $54.00 to $59.00 in a report on Friday, May 26th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $65.38.
Ormat Technologies Company Profile
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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