Creative Planning Boosts Position in Ormat Technologies, Inc. (NYSE:ORA)

Creative Planning lifted its position in Ormat Technologies, Inc. (NYSE:ORA) by 8.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,168 shares of the energy company’s stock after buying an additional 996 shares during the quarter. Creative Planning’s holdings in Ormat Technologies were worth $872,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Ormat Technologies by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 5,388,571 shares of the energy company’s stock worth $356,670,000 after purchasing an additional 63,943 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Ormat Technologies by 6.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,450,797 shares of the energy company’s stock valued at $104,030,000 after buying an additional 86,291 shares during the period. Van Berkom & Associates Inc. grew its position in Ormat Technologies by 2.0% during the second quarter. Van Berkom & Associates Inc. now owns 1,322,936 shares of the energy company’s stock worth $94,855,000 after buying an additional 25,799 shares in the last quarter. Wellington Management Group LLP increased its stake in Ormat Technologies by 3.5% in the 4th quarter. Wellington Management Group LLP now owns 1,041,169 shares of the energy company’s stock worth $78,910,000 after acquiring an additional 35,665 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings 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 in the last quarter. 95.49% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Ormat Technologies

In other news, Director Dafna Sharir sold 433 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $74.91, for a total value of $32,436.03. Following the transaction, the director now owns 3,561 shares in the company, valued at approximately $266,754.51. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Dafna Sharir sold 433 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $74.91, for a total transaction of $32,436.03. Following the completion of the sale, the director now directly owns 3,561 shares in the company, valued at approximately $266,754.51. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Byron G. Wong sold 1,266 shares of the firm’s stock in a transaction dated 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 directly owns 6,906 shares in the company, valued at $517,811.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ORA shares. JPMorgan Chase & Co. upped their price objective on shares of Ormat Technologies from $69.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Roth Mkm reissued a “buy” rating and issued a $80.00 price target on shares of Ormat Technologies in a report on Monday, August 12th. Finally, Oppenheimer lifted their price objective on shares of Ormat Technologies from $85.00 to $86.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $81.67.

Ormat Technologies Trading Up 1.2 %

Shares of ORA opened at $75.99 on Friday. Ormat Technologies, Inc. has a fifty-two week low of $58.73 and a fifty-two week high of $78.51. The firm has a market cap of $4.59 billion, a price-to-earnings ratio of 34.70, a PEG ratio of 3.92 and a beta of 0.53. The firm has a 50 day moving average price of $74.43 and a 200-day moving average price of $71.94. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.89 and a current ratio of 0.97.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.40 earnings per share 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 business had revenue of $212.96 million during the quarter, compared to the consensus estimate of $214.07 million. During the same period in the previous year, the firm posted $0.40 earnings per share. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. As a group, equities research analysts forecast that Ormat Technologies, Inc. will post 1.94 earnings per share for the current year.

Ormat Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were paid a $0.12 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $0.48 dividend on an annualized basis and a yield of 0.63%. Ormat Technologies’s dividend payout ratio (DPR) is currently 21.92%.

Ormat Technologies Company 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.