Stuart Chaussee & Associates Inc. Purchases New Stake in Ormat Technologies, Inc. (NYSE:ORA)

Stuart Chaussee & Associates Inc. purchased a new stake in shares of Ormat Technologies, Inc. (NYSE:ORA) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 500 shares of the energy company’s stock, valued at approximately $34,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AlphaQuest LLC raised its holdings in Ormat Technologies by 4,691.7% during the 4th quarter. AlphaQuest LLC now owns 575 shares of the energy company’s stock valued at $39,000 after buying an additional 563 shares during the last quarter. Headlands Technologies LLC bought a new stake in Ormat Technologies during the 4th quarter valued at $66,000. Sterling Capital Management LLC increased its position in Ormat Technologies by 897.8% during the 4th quarter. Sterling Capital Management LLC now owns 1,856 shares of the energy company’s stock valued at $126,000 after purchasing an additional 1,670 shares during the period. Generali Investments CEE investicni spolecnost a.s. purchased a new position in Ormat Technologies during the 4th quarter valued at $182,000. Finally, Raymond James Financial Inc. purchased a new position in Ormat Technologies during the 4th quarter valued at $204,000. 95.49% of the stock is currently owned by institutional investors.

Insider Activity at Ormat Technologies

In related news, insider Jessica Woelfel sold 409 shares of the stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $72.15, for a total transaction of $29,509.35. Following the sale, the insider now directly owns 6,094 shares of the company’s stock, valued at approximately $439,682.10. This represents a 6.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David Granot sold 1,666 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $69.00, for a total transaction of $114,954.00. Following the sale, the director now directly owns 1,910 shares in the company, valued at $131,790. This trade represents a 46.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,192 shares of company stock valued at $225,872. 0.56% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ORA has been the topic of a number of research analyst reports. Robert W. Baird initiated coverage on shares of Ormat Technologies in a research report on Thursday, March 13th. They set a “neutral” rating and a $81.00 price objective on the stock. StockNews.com raised shares of Ormat Technologies from a “sell” rating to a “hold” rating in a research report on Monday, April 7th. Jefferies Financial Group boosted their price objective on shares of Ormat Technologies from $78.00 to $86.00 and gave the company a “buy” rating in a research report on Tuesday, March 25th. JPMorgan Chase & Co. boosted their price objective on shares of Ormat Technologies from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, February 28th. Finally, Barclays boosted their price objective on shares of Ormat Technologies from $75.00 to $80.00 and gave the company an “equal weight” rating in a research report on Thursday, May 8th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $83.29.

Ormat Technologies Stock Down 0.2%

NYSE:ORA opened at $74.97 on Friday. The firm’s 50-day moving average price is $71.44 and its 200-day moving average price is $71.48. The company has a market capitalization of $4.54 billion, a PE ratio of 38.25, a P/E/G ratio of 3.18 and a beta of 0.65. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.87. Ormat Technologies, Inc. has a 1-year low of $61.58 and a 1-year high of $84.30.

Ormat Technologies (NYSE:ORA) last released its earnings results on Wednesday, May 7th. The energy company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.10. The firm had revenue of $229.76 million for the quarter, compared to the consensus estimate of $228.33 million. Ormat Technologies had a net margin of 13.33% and a return on equity of 5.27%. The company’s revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 EPS. On average, equities analysts predict that Ormat Technologies, Inc. will post 1.94 EPS for the current fiscal year.

Ormat Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Wednesday, May 21st will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.64%. The ex-dividend date is Wednesday, May 21st. Ormat Technologies’s dividend payout ratio (DPR) is 23.30%.

Ormat Technologies Company 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.