DekaBank Deutsche Girozentrale Buys 370 Shares of Ormat Technologies, Inc. (NYSE:ORA)

DekaBank Deutsche Girozentrale increased its stake in Ormat Technologies, Inc. (NYSE:ORA) by 8.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,977 shares of the energy company’s stock after purchasing an additional 370 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Ormat Technologies were worth $380,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Creative Planning increased its position in shares of Ormat Technologies by 2.1% in the second quarter. Creative Planning now owns 5,429 shares of the energy company’s stock worth $425,000 after purchasing an additional 111 shares during the last quarter. Mackenzie Financial Corp boosted its stake in Ormat Technologies by 4.4% in the fourth quarter. Mackenzie Financial Corp now owns 3,097 shares of the energy company’s stock worth $268,000 after buying an additional 131 shares in the last quarter. Toroso Investments LLC boosted its stake in Ormat Technologies by 15.8% in the third quarter. Toroso Investments LLC now owns 1,065 shares of the energy company’s stock worth $91,000 after buying an additional 145 shares in the last quarter. FMR LLC boosted its stake in Ormat Technologies by 13.0% in the second quarter. FMR LLC now owns 1,465 shares of the energy company’s stock worth $115,000 after buying an additional 169 shares in the last quarter. Finally, Guinness Atkinson Asset Management Inc boosted its stake in Ormat Technologies by 1.2% in the third quarter. Guinness Atkinson Asset Management Inc now owns 15,944 shares of the energy company’s stock worth $1,115,000 after buying an additional 194 shares in the last quarter. 95.49% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Stanley Stern sold 1,825 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $66.95, for a total value of $122,183.75. Following the completion of the sale, the director now owns 4,835 shares of the company’s stock, valued at $323,703.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ORA has been the subject of several research reports. Barclays cut their target price on Ormat Technologies from $82.00 to $75.00 and set an “equal weight” rating for the company in a research note on Monday, February 5th. TD Cowen cut their target price on Ormat Technologies from $74.00 to $70.00 and set a “market perform” rating for the company in a research note on Friday, February 23rd. Finally, Oppenheimer cut their target price on Ormat Technologies from $84.00 to $83.00 and set an “outperform” rating for the company in a research note on Friday, January 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $81.00.

Ormat Technologies Stock Performance

NYSE:ORA opened at $60.97 on Tuesday. The firm has a market cap of $3.68 billion, a PE ratio of 29.17, a price-to-earnings-growth ratio of 2.92 and a beta of 0.48. Ormat Technologies, Inc. has a fifty-two week low of $58.73 and a fifty-two week high of $88.64. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.12 and a current ratio of 1.20. The business has a 50 day moving average price of $65.31 and a 200-day moving average price of $67.24.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings data on Wednesday, February 21st. The energy company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. The firm had revenue of $241.30 million during the quarter, compared to analyst estimates of $239.71 million. Ormat Technologies had a return on equity of 5.09% and a net margin of 15.00%. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.73 earnings per share. Equities research analysts predict that Ormat Technologies, Inc. will post 2.2 earnings per share for the current year.

Ormat Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend was Tuesday, March 5th. Ormat Technologies’s dividend payout ratio (DPR) is presently 22.97%.

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.