39,651 Shares in Ormat Technologies, Inc. (ORA) Acquired by Piedmont Investment Advisors LLC
Piedmont Investment Advisors LLC bought a new position in shares of Ormat Technologies, Inc. (NYSE:ORA) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 39,651 shares of the energy company’s stock, valued at approximately $2,327,000. Piedmont Investment Advisors LLC owned approximately 0.08% of Ormat Technologies at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of ORA. BlackRock Inc. lifted its position in shares of Ormat Technologies by 6,068.3% during the first quarter. BlackRock Inc. now owns 2,473,872 shares of the energy company’s stock worth $141,210,000 after acquiring an additional 2,433,766 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Ormat Technologies by 24.3% during the first quarter. Renaissance Technologies LLC now owns 921,157 shares of the energy company’s stock worth $52,580,000 after acquiring an additional 179,900 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Ormat Technologies by 5.8% during the first quarter. Vanguard Group Inc. now owns 3,223,631 shares of the energy company’s stock worth $184,006,000 after acquiring an additional 177,288 shares in the last quarter. FMR LLC purchased a new stake in shares of Ormat Technologies during the first quarter worth $8,562,000. Finally, AHL Partners LLP purchased a new stake in shares of Ormat Technologies during the second quarter worth $8,370,000. Hedge funds and other institutional investors own 46.41% of the company’s stock.
In related news, major shareholder Iv 2007 Ltd. Fimi sold 7,202,646 shares of Ormat Technologies stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $57.00, for a total transaction of $410,550,822.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Bob Sullivan sold 9,890 shares of Ormat Technologies stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $62.89, for a total transaction of $621,982.10. Following the transaction, the executive vice president now owns 9,890 shares in the company, valued at approximately $621,982.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,118,038 shares of company stock worth $633,938,695. 22.97% of the stock is owned by corporate insiders.
Several equities research analysts have issued reports on the company. Oppenheimer Holdings, Inc. restated a “buy” rating and set a $70.00 target price (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 target price on Ormat Technologies and gave the stock a “buy” rating in a research report on Friday, August 18th. TheStreet downgraded Ormat Technologies from a “b” rating to a “c+” rating in a research report on Monday, August 14th. Zacks Investment Research upgraded Ormat Technologies from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research report on Thursday, October 5th. Finally, BidaskClub downgraded 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 given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $66.38.
Ormat Technologies, Inc. (ORA) traded up 0.98% on Friday, hitting $62.65. 140,155 shares of the stock traded hands. The stock has a market cap of $3.13 billion, a price-to-earnings ratio of 28.58 and a beta of 1.22. The company’s 50 day moving average price is $58.97 and its 200-day moving average price is $58.40. Ormat Technologies, Inc. has a 52-week low of $45.30 and a 52-week high of $63.56.
Ormat Technologies (NYSE:ORA) last released its earnings results on Thursday, August 3rd. The energy company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. Ormat Technologies had a net margin of 15.36% and a return on equity of 10.25%. The company had revenue of $179.36 million for the quarter, compared to analysts’ expectations of $169.80 million. During the same quarter in the previous year, the company earned $0.49 EPS. Ormat Technologies’s revenue for the quarter was up 12.2% on a year-over-year basis. On average, analysts forecast that Ormat Technologies, Inc. will post $2.29 earnings per share for the current fiscal year.
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Ormat Technologies Company 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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