Legal & General Group Plc lifted its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA) by 11.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,373 shares of the energy company’s stock after buying an additional 1,468 shares during the period. Legal & General Group Plc’s holdings in Ormat Technologies were worth $845,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ORA. Bank of New York Mellon Corp grew its holdings in shares of Ormat Technologies by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 279,582 shares of the energy company’s stock worth $16,405,000 after buying an additional 1,483 shares during the last quarter. SG Americas Securities LLC increased its position in Ormat Technologies by 189.0% in the 2nd quarter. SG Americas Securities LLC now owns 6,603 shares of the energy company’s stock valued at $387,000 after acquiring an additional 4,318 shares during the period. Trillium Asset Management LLC increased its position in Ormat Technologies by 2.6% in the 2nd quarter. Trillium Asset Management LLC now owns 163,582 shares of the energy company’s stock valued at $9,599,000 after acquiring an additional 4,129 shares during the period. Smith Asset Management Group LP increased its position in Ormat Technologies by 144.0% in the 2nd quarter. Smith Asset Management Group LP now owns 50,830 shares of the energy company’s stock valued at $2,983,000 after acquiring an additional 30,000 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its position in Ormat Technologies by 135.5% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 7,300 shares of the energy company’s stock valued at $431,000 after acquiring an additional 4,200 shares during the period. Institutional investors and hedge funds own 46.41% of the company’s stock.

Several analysts have commented on the company. BidaskClub raised Ormat Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, June 10th. Zacks Investment Research upgraded Ormat Technologies from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research note on Tuesday, August 8th. Cowen and Company set a $67.00 target price on Ormat Technologies and gave the company a “buy” rating in a research note on Monday, July 17th. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $70.00 target price (up from $65.00) on shares of Ormat Technologies in a research note on Wednesday, September 27th. Finally, TheStreet lowered Ormat Technologies from a “b” rating to a “c+” rating in a report on Monday, August 14th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $66.00.

Ormat Technologies, Inc. (ORA) opened at 61.06 on Tuesday. Ormat Technologies, Inc. has a 12-month low of $45.30 and a 12-month high of $63.56. The stock has a market capitalization of $3.05 billion, a PE ratio of 27.86 and a beta of 1.22. The company’s 50-day moving average is $57.54 and its 200 day moving average is $58.12.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings data on Thursday, August 3rd. The energy company reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.03. The business had revenue of $179.36 million for the quarter, compared to analysts’ expectations of $169.80 million. Ormat Technologies had a net margin of 15.36% and a return on equity of 10.25%. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.49 EPS. On average, analysts predict that Ormat Technologies, Inc. will post $2.29 EPS for the current year.

In other Ormat Technologies news, SVP Etty Rosner sold 9,983 shares of the business’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $60.23, for a total transaction of $601,276.09. Following the completion of the transaction, the senior vice president now owns 9,983 shares in the company, valued at approximately $601,276.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Bob Sullivan sold 9,890 shares of the business’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $62.89, for a total value of $621,982.10. Following the transaction, the executive vice president now owns 9,890 shares of the company’s stock, valued at approximately $621,982.10. The disclosure for this sale can be found here. Insiders have sold a total of 11,118,038 shares of company stock valued at $633,938,695 over the last three months. 22.97% of the stock is currently owned by company insiders.

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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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Institutional Ownership by Quarter for Ormat Technologies (NYSE:ORA)

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