Nisa Investment Advisors LLC Has $417,000 Stake in Ormat Technologies, Inc. (NYSE:ORA)

Nisa Investment Advisors LLC lifted its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 19.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,819 shares of the energy company’s stock after purchasing an additional 961 shares during the period. Nisa Investment Advisors LLC’s holdings in Ormat Technologies were worth $417,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ORA. SG Americas Securities LLC raised its stake in shares of Ormat Technologies by 287.4% during the second quarter. SG Americas Securities LLC now owns 8,163 shares of the energy company’s stock worth $585,000 after buying an additional 6,056 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Ormat Technologies by 115.3% during the second quarter. GAMMA Investing LLC now owns 730 shares of the energy company’s stock worth $52,000 after buying an additional 391 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Ormat Technologies by 81.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 9,049 shares of the energy company’s stock worth $597,000 after buying an additional 4,072 shares during the last quarter. Beck Bode LLC raised its stake in shares of Ormat Technologies by 34.1% during the first quarter. Beck Bode LLC now owns 174,882 shares of the energy company’s stock worth $11,575,000 after buying an additional 44,451 shares during the last quarter. Finally, Swedbank AB bought a new stake in shares of Ormat Technologies during the first quarter worth approximately $7,907,000. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director David Granot sold 686 shares of the stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $73.46, for a total transaction of $50,393.56. Following the completion of the transaction, the director now owns 4,832 shares in the company, valued at $354,958.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ORA has been the subject of a number of recent research reports. Oppenheimer boosted their price target on shares of Ormat Technologies from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. TD Cowen boosted their price target on shares of Ormat Technologies from $70.00 to $76.00 and gave the stock a “hold” rating in a research note on Friday, May 10th. Barclays lowered their target price on shares of Ormat Technologies from $75.00 to $73.00 and set an “equal weight” rating for the company in a research note on Monday, May 13th. UBS Group upped their target price on shares of Ormat Technologies from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $80.00 target price on shares of Ormat Technologies in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Ormat Technologies presently has an average rating of “Hold” and a consensus price target of $81.67.

Ormat Technologies Stock Up 3.0 %

Shares of ORA stock opened at $74.73 on Friday. The firm has a fifty day moving average of $73.52 and a 200-day moving average of $69.64. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.72. Ormat Technologies, Inc. has a 12-month low of $58.73 and a 12-month high of $78.51. The company has a market capitalization of $4.52 billion, a price-to-earnings ratio of 33.66, a P/E/G ratio of 3.62 and a beta of 0.51.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings data on Tuesday, August 6th. The energy company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.03. Ormat Technologies had a net margin of 14.89% and a return on equity of 5.40%. The company had revenue of $212.96 million during the quarter, compared to the consensus estimate of $214.07 million. During the same quarter in the prior year, the firm earned $0.40 earnings per share. The firm’s revenue was up 9.3% compared to the same quarter last year. As a group, equities research analysts predict that Ormat Technologies, Inc. will post 2.04 earnings per share for the current fiscal year.

Ormat Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend is Tuesday, August 20th. Ormat Technologies’s dividend payout ratio is 21.62%.

About Ormat Technologies

Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, Guadeloupe, New Zealand, Honduras, and internationally. It operates in three segments: Electricity, Product, and Energy Storage. The Electricity segment develops, builds, owns, and operates geothermal, solar photovoltaic, and recovered energy-based power plants; and sells electricity.