Aurora Investment Counsel Has $2.54 Million Holdings in Ormat Technologies, Inc. $ORA

Aurora Investment Counsel increased its position in Ormat Technologies, Inc. (NYSE:ORA) by 1.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,271 shares of the energy company’s stock after acquiring an additional 497 shares during the quarter. Ormat Technologies comprises about 1.3% of Aurora Investment Counsel’s investment portfolio, making the stock its 18th biggest position. Aurora Investment Counsel’s holdings in Ormat Technologies were worth $2,535,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. QRG Capital Management Inc. bought a new stake in Ormat Technologies in the first quarter valued at about $239,000. State of Alaska Department of Revenue lifted its position in shares of Ormat Technologies by 8.2% during the first quarter. State of Alaska Department of Revenue now owns 6,731 shares of the energy company’s stock worth $476,000 after purchasing an additional 510 shares in the last quarter. Perigon Wealth Management LLC lifted its holdings in Ormat Technologies by 8.8% in the first quarter. Perigon Wealth Management LLC now owns 3,440 shares of the energy company’s stock valued at $243,000 after buying an additional 278 shares during the period. Amalgamated Bank lifted its holdings in Ormat Technologies by 4.3% in the first quarter. Amalgamated Bank now owns 25,662 shares of the energy company’s stock valued at $1,816,000 after buying an additional 1,068 shares during the period. Finally, New York State Teachers Retirement System increased its stake in Ormat Technologies by 0.9% in the first quarter. New York State Teachers Retirement System now owns 32,180 shares of the energy company’s stock valued at $2,277,000 after purchasing an additional 300 shares in the last quarter. Institutional investors own 95.49% of the company’s stock.

Ormat Technologies Stock Up 1.1%

Ormat Technologies stock opened at $109.86 on Tuesday. The company has a market cap of $6.67 billion, a P/E ratio of 51.10, a price-to-earnings-growth ratio of 4.90 and a beta of 0.69. Ormat Technologies, Inc. has a 1-year low of $61.58 and a 1-year high of $111.08. The company has a fifty day simple moving average of $95.94 and a 200 day simple moving average of $84.97. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.77.

Ormat Technologies (NYSE:ORA) last announced its quarterly earnings results on Wednesday, August 6th. The energy company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.11. The firm had revenue of $234.02 million during the quarter, compared to analysts’ expectations of $225.26 million. Ormat Technologies had a net margin of 14.49% and a return on equity of 5.47%. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.37 earnings per share. Research analysts anticipate that Ormat Technologies, Inc. will post 1.94 earnings per share for the current fiscal year.

Ormat Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 20th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Wednesday, August 20th. Ormat Technologies’s dividend payout ratio (DPR) is currently 22.33%.

Insider Transactions at Ormat Technologies

In other Ormat Technologies news, CFO Assi Ginzburg sold 9,343 shares of the firm’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $93.31, for a total value of $871,795.33. Following the transaction, the chief financial officer directly owned 24,482 shares of the company’s stock, valued at $2,284,415.42. This trade represents a 27.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stanley Stern sold 876 shares of Ormat Technologies stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $91.98, for a total transaction of $80,574.48. Following the sale, the director directly owned 5,261 shares in the company, valued at $483,906.78. This trade represents a 14.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,926 shares of company stock worth $3,861,296. Corporate insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on ORA shares. Baird R W raised shares of Ormat Technologies from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 30th. Roth Capital reaffirmed a “buy” rating and issued a $98.00 target price (up previously from $88.00) on shares of Ormat Technologies in a research note on Tuesday, August 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ormat Technologies in a research note on Wednesday, October 8th. Robert W. Baird raised shares of Ormat Technologies from a “neutral” rating to an “outperform” rating and upped their target price for the company from $87.00 to $103.00 in a research note on Wednesday, July 30th. Finally, JPMorgan Chase & Co. upped their target price on shares of Ormat Technologies from $88.00 to $99.00 and gave the company a “neutral” rating in a research note on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Ormat Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $99.30.

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.