Psagot Investment House Ltd. lifted its holdings in Ormat Technologies, Inc. (NYSE:ORA) by 1.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,661 shares of the energy company’s stock after purchasing an additional 43 shares during the quarter. Psagot Investment House Ltd.’s holdings in Ormat Technologies were worth $156,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also bought and sold shares of ORA. Royal Bank of Canada raised its stake in shares of Ormat Technologies by 1.7% in the second quarter. Royal Bank of Canada now owns 2,008 shares of the energy company’s stock worth $117,000 after purchasing an additional 34 shares during the last quarter. Creative Planning increased its position in Ormat Technologies by 12.0% during the second quarter. Creative Planning now owns 2,099 shares of the energy company’s stock valued at $123,000 after acquiring an additional 225 shares during the last quarter. US Bancorp DE increased its position in Ormat Technologies by 33.6% during 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 last quarter. SG Americas Securities LLC increased its position in Ormat Technologies by 16.6% during the first quarter. SG Americas Securities LLC now owns 2,285 shares of the energy company’s stock valued at $130,000 after acquiring an additional 326 shares during the last quarter. Finally, Sei Investments Co. increased its position in Ormat Technologies by 2.2% during the second quarter. Sei Investments Co. now owns 2,266 shares of the energy company’s stock valued at $133,000 after acquiring an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 46.41% of the company’s stock.
In other Ormat Technologies news, VP Shimon Hatzir sold 2,976 shares of Ormat Technologies stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $58.50, for a total transaction of $174,096.00. Following the completion of the transaction, the vice president now owns 2,976 shares in the company, valued at approximately $174,096. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Iv 2007 Ltd. Fimi sold 7,202,646 shares of Ormat Technologies stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $57.00, for a total value of $410,550,822.00. The disclosure for this sale can be found here. Insiders have sold a total of 11,118,038 shares of company stock valued at $633,938,695 in the last quarter. Company insiders own 22.97% of the company’s stock.
A number of analysts recently commented on the company. Zacks Investment Research upgraded Ormat Technologies from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research report on Thursday, October 5th. Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $70.00 price objective (up previously from $65.00) on shares of Ormat Technologies in a research report on Wednesday, September 27th. Cowen and Company set a $67.00 price objective on Ormat Technologies and gave the company a “buy” rating in a research report on Friday, August 18th. TheStreet cut Ormat Technologies from a “b” rating to a “c+” rating in a research report on Monday, August 14th. Finally, BidaskClub cut Ormat Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Ormat Technologies has an average rating of “Buy” and an average price target of $66.38.
Ormat Technologies, Inc. (NYSE ORA) traded up 0.63% during mid-day trading on Friday, reaching $62.43. The company had a trading volume of 12,241 shares. Ormat Technologies, Inc. has a 52 week low of $45.30 and a 52 week high of $63.56. The stock’s 50-day moving average price is $58.68 and its 200 day moving average price is $58.35. The firm has a market capitalization of $3.12 billion, a PE ratio of 28.48 and a beta of 1.22.
Ormat Technologies (NYSE:ORA) last released its quarterly earnings data on Thursday, August 3rd. The energy company reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.03. The business 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 company’s revenue was up 12.2% on a year-over-year basis. During the same quarter last year, the business posted $0.49 EPS. On average, equities research analysts predict that Ormat Technologies, Inc. will post $2.29 EPS for the current year.
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Ormat Technologies 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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