American Century Companies Inc. Has $2.57 Million Stake in Ormat Technologies, Inc. (ORA)
American Century Companies Inc. reduced its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 57.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 42,042 shares of the energy company’s stock after selling 56,706 shares during the quarter. American Century Companies Inc. owned 0.08% of Ormat Technologies worth $2,567,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in ORA. Royal Bank of Canada boosted its stake in Ormat Technologies by 1.7% in the second quarter. Royal Bank of Canada now owns 2,008 shares of the energy company’s stock valued at $117,000 after buying an additional 34 shares in the last quarter. Creative Planning raised its position in Ormat Technologies by 12.0% in the second quarter. Creative Planning now owns 2,099 shares of the energy company’s stock valued at $123,000 after purchasing an additional 225 shares during the last quarter. Sei Investments Co. raised its position in Ormat Technologies by 2.2% in the second quarter. Sei Investments Co. now owns 2,266 shares of the energy company’s stock valued at $133,000 after purchasing an additional 49 shares during the last quarter. Advisor Group Inc. raised its position in Ormat Technologies by 153.2% in the second quarter. Advisor Group Inc. now owns 2,302 shares of the energy company’s stock valued at $135,000 after purchasing an additional 1,393 shares during the last quarter. Finally, Psagot Investment House Ltd. raised its position in Ormat Technologies by 1.6% in the second quarter. Psagot Investment House Ltd. now owns 2,661 shares of the energy company’s stock valued at $156,000 after purchasing an additional 43 shares during the last quarter. 45.82% of the stock is currently owned by institutional investors.
ORA has been the subject of several research reports. Zacks Investment Research upgraded Ormat Technologies from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research report on Tuesday, August 8th. TheStreet downgraded Ormat Technologies from a “b” rating to a “c+” rating in a research report on Monday, August 14th. Cowen Inc set a $67.00 price objective on Ormat Technologies and gave the stock a “buy” rating in a research report on Friday, August 18th. Oppenheimer Holdings, Inc. restated a “buy” rating and set a $70.00 price objective (up from $65.00) on shares of Ormat Technologies in a research report on Wednesday, September 27th. Finally, Roth Capital set a $70.00 price objective on Ormat Technologies and gave the stock a “buy” rating in a research report on Monday, November 13th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $66.88.
Shares of Ormat Technologies, Inc. (ORA) traded up $0.70 on Monday, hitting $64.09. The stock had a trading volume of 59,000 shares, compared to its average volume of 180,716. Ormat Technologies, Inc. has a 52 week low of $46.40 and a 52 week high of $65.91. The company has a quick ratio of 1.62, a current ratio of 1.72 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $3,240.00, a P/E ratio of 28.36, a price-to-earnings-growth ratio of 2.15 and a beta of 1.25.
Ormat Technologies (NYSE:ORA) last issued its earnings results on Tuesday, November 7th. The energy company reported $0.42 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.06). Ormat Technologies had a return on equity of 9.41% and a net margin of 16.99%. The business had revenue of $157.20 million during the quarter, compared to the consensus estimate of $159.02 million. During the same quarter in the previous year, the firm posted $0.56 earnings per share. The company’s revenue for the quarter was down 14.8% compared to the same quarter last year. research analysts predict that Ormat Technologies, Inc. will post 2.21 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 21st will be paid a $0.08 dividend. The ex-dividend date of this dividend is Monday, November 20th. This represents a $0.32 dividend on an annualized basis and a yield of 0.50%. Ormat Technologies’s dividend payout ratio (DPR) is presently 13.73%.
In related news, Director David Granot sold 2,500 shares of Ormat Technologies stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $57.66, for a total transaction of $144,150.00. Following the transaction, the director now owns 2,500 shares of the company’s stock, valued at $144,150. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Bob Sullivan sold 9,890 shares of Ormat Technologies stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $62.89, for a total value of $621,982.10. Following the transaction, the executive vice president now directly owns 9,890 shares in the company, valued at approximately $621,982.10. The disclosure for this sale can be found here. Insiders sold 84,359 shares of company stock valued at $5,013,332 in the last three months. Insiders own 14.74% of the company’s stock.
Ormat Technologies 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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