Pathstone Holdings LLC Grows Position in Ormat Technologies, Inc. (NYSE:ORA)

Pathstone Holdings LLC raised its position in Ormat Technologies, Inc. (NYSE:ORA) by 2.4% during the third quarter, HoldingsChannel.com reports. The firm owned 17,729 shares of the energy company’s stock after purchasing an additional 422 shares during the period. Pathstone Holdings LLC’s holdings in Ormat Technologies were worth $1,364,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. grew its stake in shares of Ormat Technologies by 180.3% during the third quarter. Blue Trust Inc. now owns 356 shares of the energy company’s stock valued at $26,000 after buying an additional 229 shares during the last quarter. UMB Bank n.a. increased its stake in Ormat Technologies by 107.7% in the third quarter. UMB Bank n.a. now owns 617 shares of the energy company’s stock worth $47,000 after purchasing an additional 320 shares during the period. GAMMA Investing LLC increased its stake in Ormat Technologies by 115.3% in the second quarter. GAMMA Investing LLC now owns 730 shares of the energy company’s stock worth $52,000 after purchasing an additional 391 shares during the period. DMC Group LLC purchased a new stake in shares of Ormat Technologies during the third quarter valued at $204,000. Finally, Virtu Financial LLC bought a new position in shares of Ormat Technologies in the first quarter worth about $246,000. Institutional investors own 95.49% of the company’s stock.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ORA shares. Roth Mkm reiterated 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 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 issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $84.50.

Ormat Technologies Stock Up 0.6 %

Shares of Ormat Technologies stock opened at $81.59 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.87. The stock has a market cap of $4.93 billion, a price-to-earnings ratio of 41.63, a PEG ratio of 4.24 and a beta of 0.53. The firm’s 50-day moving average is $78.63 and its two-hundred day moving average is $75.41. Ormat Technologies, Inc. has a 1 year low of $59.41 and a 1 year high of $84.30.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings data on Wednesday, November 6th. The energy company reported $0.36 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $215.53 million. During the same period last year, the firm earned $0.47 earnings per share. The company’s quarterly revenue was up 1.8% on a year-over-year basis. As a group, research analysts expect that Ormat Technologies, Inc. will post 1.93 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

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

Ormat Technologies Profile

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.