AQR Capital Management LLC Increases Stake in Ormat Technologies, Inc. (NYSE:ORA)

AQR Capital Management LLC raised its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 45.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 5,809 shares of the energy company’s stock after acquiring an additional 1,811 shares during the period. AQR Capital Management LLC’s holdings in Ormat Technologies were worth $417,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its position in shares of Ormat Technologies by 115.3% during the 2nd quarter. GAMMA Investing LLC now owns 730 shares of the energy company’s stock valued at $52,000 after acquiring an additional 391 shares during the last quarter. EntryPoint Capital LLC bought a new position in shares of Ormat Technologies during the 1st quarter valued at approximately $50,000. PNC Financial Services Group Inc. boosted its position in shares of Ormat Technologies by 50.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,540 shares of the energy company’s stock valued at $117,000 after acquiring an additional 514 shares during the last quarter. nVerses Capital LLC boosted its position in shares of Ormat Technologies by 311.1% during the 2nd quarter. nVerses Capital LLC now owns 3,700 shares of the energy company’s stock valued at $265,000 after acquiring an additional 2,800 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Ormat Technologies during the 1st quarter valued at approximately $246,000. 95.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Roth Mkm reiterated a “buy” rating and set a $80.00 target price on shares of Ormat Technologies in a research report on Monday, August 12th. JPMorgan Chase & Co. increased their target price on Ormat Technologies from $69.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Finally, Oppenheimer increased their target price on Ormat Technologies from $85.00 to $86.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Ormat Technologies currently has an average rating of “Moderate Buy” and an average price target of $81.67.

Ormat Technologies Stock Up 0.2 %

Shares of ORA opened at $77.02 on Wednesday. The company has a market cap of $4.65 billion, a PE ratio of 34.69, a P/E/G ratio of 3.92 and a beta of 0.53. The business has a fifty day moving average of $74.58 and a 200 day moving average of $72.18. Ormat Technologies, Inc. has a 52-week low of $58.73 and a 52-week high of $78.51. 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 (NYSE:ORA) last issued its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. The company had revenue of $212.96 million during the quarter, compared to the consensus estimate of $214.07 million. Ormat Technologies had a return on equity of 5.40% and a net margin of 14.89%. Ormat Technologies’s revenue was up 9.3% on a year-over-year basis. During the same period last year, the company earned $0.40 earnings per share. On average, sell-side analysts expect that Ormat Technologies, Inc. will post 1.94 EPS for the current year.

Ormat Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were given a dividend of $0.12 per share. The ex-dividend date was Tuesday, August 20th. This represents a $0.48 annualized dividend and a dividend yield of 0.62%. Ormat Technologies’s dividend payout ratio (DPR) is 21.62%.

Insider Transactions at Ormat Technologies

In other news, Director Byron G. Wong sold 1,266 shares of Ormat Technologies stock in a transaction on Friday, September 20th. The stock was sold at an average price of $74.98, for a total transaction of $94,924.68. Following the completion of the sale, the director now directly owns 6,906 shares in the company, valued at approximately $517,811.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Dafna Sharir sold 433 shares of Ormat Technologies stock in a transaction on Friday, August 23rd. The stock was 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Byron G. Wong sold 1,266 shares of the firm’s 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 transaction, the director now owns 6,906 shares in the company, valued at approximately $517,811.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

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.