Beck Bode LLC Acquires 9,968 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Beck Bode LLC grew its holdings in Ormat Technologies, Inc. (NYSE:ORA) by 8.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 130,431 shares of the energy company’s stock after purchasing an additional 9,968 shares during the period. Ormat Technologies comprises about 2.2% of Beck Bode LLC’s investment portfolio, making the stock its 15th biggest holding. Beck Bode LLC owned 0.22% of Ormat Technologies worth $9,885,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of ORA. GAMMA Investing LLC bought a new stake in shares of Ormat Technologies in the fourth quarter worth $32,000. Envestnet Portfolio Solutions Inc. purchased a new position in Ormat Technologies during the third quarter valued at $204,000. Allspring Global Investments Holdings LLC lifted its position in Ormat Technologies by 56.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,186 shares of the energy company’s stock valued at $223,000 after purchasing an additional 1,153 shares in the last quarter. Prime Capital Investment Advisors LLC purchased a new position in Ormat Technologies during the fourth quarter valued at $257,000. Finally, Inspire Investing LLC lifted its position in Ormat Technologies by 12.8% during the third quarter. Inspire Investing LLC now owns 4,400 shares of the energy company’s stock valued at $308,000 after purchasing an additional 501 shares in the last quarter. Institutional investors own 95.49% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Barclays lowered their target price on Ormat Technologies from $82.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Monday, February 5th. TD Cowen cut their price objective on shares of Ormat Technologies from $74.00 to $70.00 and set a “market perform” rating for the company in a report on Friday, February 23rd. Finally, Oppenheimer dropped their target price on shares of Ormat Technologies from $84.00 to $83.00 and set an “outperform” rating for the company in a research report on Friday, January 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $81.00.

Insider Buying and Selling

In related news, Director Stanley Stern sold 1,825 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $66.95, for a total value of $122,183.75. Following the sale, the director now directly owns 4,835 shares of the company’s stock, valued at approximately $323,703.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.46% of the stock is currently owned by corporate insiders.

Ormat Technologies Trading Down 1.0 %

Shares of NYSE:ORA traded down $0.65 during trading on Tuesday, reaching $63.83. The company’s stock had a trading volume of 374,177 shares, compared to its average volume of 479,614. The company has a current ratio of 1.20, a quick ratio of 1.12 and a debt-to-equity ratio of 0.64. Ormat Technologies, Inc. has a 12 month low of $58.73 and a 12 month high of $88.26. The firm’s 50 day simple moving average is $64.83 and its two-hundred day simple moving average is $66.93. The stock has a market capitalization of $3.86 billion, a PE ratio of 30.48, a price-to-earnings-growth ratio of 2.95 and a beta of 0.48.

Ormat Technologies (NYSE:ORA) last announced its quarterly earnings results on Wednesday, February 21st. The energy company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. Ormat Technologies had a net margin of 15.00% and a return on equity of 5.09%. The firm had revenue of $241.30 million during the quarter, compared to the consensus estimate of $239.71 million. During the same quarter last year, the firm earned $0.73 EPS. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. On average, research analysts predict that Ormat Technologies, Inc. will post 2.14 EPS for the current fiscal year.

Ormat Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date was Tuesday, March 5th. Ormat Technologies’s dividend payout ratio (DPR) is currently 22.97%.

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.