WINTON GROUP Ltd bought a new position in Ormat Technologies, Inc. (NYSE:ORA – Free Report) in the second quarter, HoldingsChannel.com reports. The fund bought 6,400 shares of the energy company’s stock, valued at approximately $697,000.
A number of other institutional investors also recently modified their holdings of the stock. Glenmede Trust Co. NA lifted its position in shares of Ormat Technologies by 3.4% during the first quarter. Glenmede Trust Co. NA now owns 2,452 shares of the energy company’s stock worth $274,000 after purchasing an additional 81 shares in the last quarter. State of Wyoming increased its holdings in shares of Ormat Technologies by 6.7% in the fourth quarter. State of Wyoming now owns 2,091 shares of the energy company’s stock valued at $231,000 after purchasing an additional 131 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Ormat Technologies by 7.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,167 shares of the energy company’s stock worth $239,000 after purchasing an additional 144 shares during the last quarter. Evexia Wealth LLC raised its position in Ormat Technologies by 2.8% in the 1st quarter. Evexia Wealth LLC now owns 5,432 shares of the energy company’s stock worth $610,000 after purchasing an additional 149 shares during the last quarter. Finally, Corient Private Wealth LP raised its position in Ormat Technologies by 5.7% in the 2nd quarter. Corient Private Wealth LP now owns 3,063 shares of the energy company’s stock worth $334,000 after purchasing an additional 164 shares during the last quarter. 95.49% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
ORA has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their price objective on Ormat Technologies from $122.00 to $131.00 and gave the company a “neutral” rating in a research report on Wednesday, September 9th. Oppenheimer boosted their target price on Ormat Technologies from $141.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 9th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $130.00 price target on shares of Ormat Technologies in a research note on Wednesday, September 9th. Sanford C. Bernstein upgraded Ormat Technologies from an “underperform” rating to a “market perform” rating and set a $112.00 price target on the stock in a report on Friday, September 4th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $117.00 price objective on shares of Ormat Technologies in a research report on Wednesday, September 9th. Eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $130.75.
Ormat Technologies Trading Down 3.2%
Shares of NYSE ORA opened at $91.89 on Tuesday. The company’s 50 day simple moving average is $105.04 and its 200 day simple moving average is $114.53. Ormat Technologies, Inc. has a fifty-two week low of $90.77 and a fifty-two week high of $146.39. The firm has a market capitalization of $5.65 billion, a P/E ratio of 45.26, a P/E/G ratio of 3.84 and a beta of 0.90. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.05 and a quick ratio of 1.00.
Ormat Technologies (NYSE:ORA – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The energy company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.24. Ormat Technologies had a net margin of 10.66% and a return on equity of 6.61%. The firm had revenue of $258.76 million for the quarter, compared to analysts’ expectations of $240.03 million. During the same period last year, the firm earned $0.48 earnings per share. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, analysts predict that Ormat Technologies, Inc. will post 2.47 EPS for the current year.
Ormat Technologies Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Wednesday, August 19th. Ormat Technologies’s dividend payout ratio (DPR) is currently 23.65%.
About Ormat Technologies
Ormat Technologies, Inc is a renewable energy company that develops, owns, and operates geothermal, recovered energy, and energy storage facilities. The company also designs and manufactures equipment used to generate electricity from geothermal resources and waste heat, including its Ormat Energy Converter systems.
Ormat’s geothermal activities include the exploration and development of geothermal resources, power plant construction, and long-term operation and maintenance. Its recovered energy business converts industrial waste heat and other low-temperature heat sources into electricity.
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