Ormat Technologies, Inc. (ORA) Position Boosted by First Trust Advisors LP
First Trust Advisors LP boosted its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA) by 8.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 85,421 shares of the energy company’s stock after acquiring an additional 6,810 shares during the quarter. First Trust Advisors LP owned 0.17% of Ormat Technologies worth $5,215,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Ormat Technologies by 4.4% during the 2nd quarter. Vanguard Group Inc. now owns 3,366,355 shares of the energy company’s stock valued at $197,538,000 after acquiring an additional 142,724 shares during the period. BlackRock Inc. boosted its holdings in Ormat Technologies by 6,068.3% during the 1st quarter. BlackRock Inc. now owns 2,473,872 shares of the energy company’s stock valued at $141,210,000 after acquiring an additional 2,433,766 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Ormat Technologies by 6.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,526,801 shares of the energy company’s stock valued at $89,594,000 after acquiring an additional 96,288 shares during the period. Renaissance Technologies LLC boosted its holdings in Ormat Technologies by 17.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,085,257 shares of the energy company’s stock valued at $63,683,000 after acquiring an additional 164,100 shares during the period. Finally, State Street Corp boosted its holdings in Ormat Technologies by 7.5% during the 2nd quarter. State Street Corp now owns 778,621 shares of the energy company’s stock valued at $45,685,000 after acquiring an additional 54,489 shares during the period. Institutional investors own 45.96% of the company’s stock.
In other Ormat Technologies news, Director David Granot sold 2,500 shares of Ormat Technologies stock in a transaction 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 completion of the sale, the director now directly owns 2,500 shares of the company’s stock, valued at approximately $144,150. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Shimon Hatzir sold 4,843 shares of the business’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $59.00, for a total value of $285,737.00. Following the completion of the transaction, the vice president now directly owns 4,843 shares of the company’s stock, valued at $285,737. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 84,359 shares of company stock valued at $5,013,332. 14.74% of the stock is currently owned by corporate insiders.
A number of equities analysts recently issued reports on ORA shares. Zacks Investment Research cut Ormat Technologies from a “buy” rating to a “hold” rating in a report on Tuesday. Oppenheimer Holdings, Inc. restated a “buy” rating and set a $70.00 price objective (up previously from $65.00) on shares of Ormat Technologies in a report on Wednesday, September 27th. Roth Capital set a $70.00 price objective on Ormat Technologies and gave the company a “buy” rating in a report on Monday. TheStreet cut Ormat Technologies from a “b” rating to a “c+” rating in a report on Monday, August 14th. Finally, Cowen and Company set a $67.00 price objective on Ormat Technologies and gave the company a “buy” rating in a report on Friday, August 18th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Ormat Technologies presently has a consensus rating of “Buy” and a consensus target price of $66.88.
Shares of Ormat Technologies, Inc. (ORA) opened at $63.72 on Friday. The company has a current ratio of 1.72, a quick ratio of 1.62 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $3,198.24, a price-to-earnings ratio of 27.97, a price-to-earnings-growth ratio of 2.12 and a beta of 1.25. Ormat Technologies, Inc. has a 1 year low of $46.12 and a 1 year high of $65.91.
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). The firm had revenue of $157.20 million for the quarter, compared to the consensus estimate of $159.02 million. Ormat Technologies had a net margin of 16.99% and a return on equity of 9.41%. The company’s revenue for the quarter was down 14.8% on a year-over-year basis. During the same period last year, the firm earned $0.56 earnings per share. equities research analysts predict that Ormat Technologies, Inc. will post 2.21 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 21st will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date is Monday, November 20th. Ormat Technologies’s dividend payout ratio (DPR) is presently 13.73%.
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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