11,635 Shares in Ormat Technologies, Inc. (NYSE:ORA) Acquired by Intech Investment Management LLC

Intech Investment Management LLC acquired a new stake in Ormat Technologies, Inc. (NYSE:ORA) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 11,635 shares of the energy company’s stock, valued at approximately $895,000.

A number of other institutional investors have also recently bought and sold shares of ORA. Susquehanna International Group Ltd. acquired a new position in shares of Ormat Technologies in the 2nd quarter valued at $1,006,000. Tidal Investments LLC lifted its stake in Ormat Technologies by 433.4% in the first quarter. Tidal Investments LLC now owns 15,075 shares of the energy company’s stock valued at $998,000 after buying an additional 12,249 shares during the period. Y.D. More Investments Ltd boosted its holdings in Ormat Technologies by 1,011.5% during the second quarter. Y.D. More Investments Ltd now owns 493,619 shares of the energy company’s stock worth $34,943,000 after buying an additional 449,209 shares during the last quarter. Chesapeake Capital Corp IL acquired a new position in shares of Ormat Technologies during the 3rd quarter worth about $522,000. Finally, Bank of New York Mellon Corp raised its position in shares of Ormat Technologies by 2.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 560,029 shares of the energy company’s stock valued at $40,154,000 after acquiring an additional 15,004 shares during the period. Institutional investors and hedge funds own 95.49% of the company’s stock.

Insider Buying and Selling at Ormat Technologies

In other Ormat Technologies news, Director Byron G. Wong sold 1,266 shares of Ormat Technologies stock in a transaction on Friday, September 20th. The shares were sold at an average price of $74.98, for a total value of $94,924.68. Following the sale, the director now directly owns 6,906 shares in the company, valued at approximately $517,811.88. The trade was a 15.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on ORA shares. Roth Mkm restated a “buy” rating and set a $92.00 price objective (up previously from $87.00) on shares of Ormat Technologies in a report on Friday, November 8th. Oppenheimer boosted their price target on shares of Ormat Technologies from $86.00 to $91.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $84.50.

Ormat Technologies Stock Up 0.6 %

Ormat Technologies stock opened at $81.59 on Friday. The company has a 50 day moving average of $78.63 and a 200-day moving average of $75.41. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.73. Ormat Technologies, Inc. has a twelve month low of $59.41 and a twelve month high of $84.30. The stock has a market capitalization of $4.93 billion, a PE ratio of 41.63, a price-to-earnings-growth ratio of 4.24 and a beta of 0.53.

Ormat Technologies (NYSE:ORA) last announced its earnings results on Wednesday, November 6th. The energy company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.05. Ormat Technologies had a net margin of 13.33% and a return on equity of 5.27%. The firm had revenue of $211.80 million during the quarter, compared to analyst estimates of $215.53 million. During the same period in the prior year, the business earned $0.47 EPS. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, equities research analysts anticipate that Ormat Technologies, Inc. will post 1.93 EPS for the current fiscal year.

Ormat Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date is Wednesday, November 20th. Ormat Technologies’s dividend payout ratio is presently 24.49%.

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.