Raymond James & Associates Buys 743 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Raymond James & Associates grew its position in Ormat Technologies, Inc. (NYSE:ORA) by 6.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,666 shares of the energy company’s stock after purchasing an additional 743 shares during the quarter. Raymond James & Associates’ holdings in Ormat Technologies were worth $884,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ORA. Envestnet Portfolio Solutions Inc. bought a new position in Ormat Technologies in the 3rd quarter worth $204,000. Allspring Global Investments Holdings LLC increased its stake in shares of Ormat Technologies by 56.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,186 shares of the energy company’s stock worth $223,000 after purchasing an additional 1,153 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of Ormat Technologies during the 3rd quarter worth about $230,000. Inspire Investing LLC boosted its stake in Ormat Technologies by 12.8% during the 3rd quarter. Inspire Investing LLC now owns 4,400 shares of the energy company’s stock valued at $308,000 after purchasing an additional 501 shares during the period. Finally, Ballentine Partners LLC bought a new position in Ormat Technologies in the 3rd quarter worth approximately $317,000. Institutional investors own 95.49% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ORA shares. Oppenheimer reduced their price objective on Ormat Technologies from $84.00 to $83.00 and set an “outperform” rating for the company in a research report on Friday, January 19th. Barclays reduced their price target on shares of Ormat Technologies from $82.00 to $75.00 and set an “equal weight” rating for the company in a report on Monday, February 5th. Finally, TD Cowen dropped their price objective on shares of Ormat Technologies from $74.00 to $70.00 and set a “market perform” rating on the stock in a report on Friday, February 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Ormat Technologies has an average rating of “Hold” and an average target price of $81.00.

Ormat Technologies Trading Up 1.3 %

Shares of Ormat Technologies stock opened at $64.57 on Tuesday. The company’s fifty day moving average price is $65.02 and its two-hundred day moving average price is $67.05. The firm has a market capitalization of $3.90 billion, a PE ratio of 30.89, a price-to-earnings-growth ratio of 2.98 and a beta of 0.48. Ormat Technologies, Inc. has a 52-week low of $58.73 and a 52-week high of $88.64. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.20 and a quick ratio of 1.12.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings results on Wednesday, February 21st. The energy company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.07. Ormat Technologies had a net margin of 15.00% and a return on equity of 5.09%. The firm had revenue of $241.30 million during the quarter, compared to analyst estimates of $239.71 million. During the same quarter in the prior year, the business posted $0.73 earnings per share. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. On average, analysts expect that Ormat Technologies, Inc. will post 2.14 EPS for the current year.

Ormat Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.48 annualized dividend and a yield of 0.74%. Ormat Technologies’s dividend payout ratio is currently 22.97%.

Insiders Place Their Bets

In other news, Director Stanley Stern sold 1,825 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $66.95, for a total value of $122,183.75. Following the sale, the director now owns 4,835 shares of the company’s stock, valued at approximately $323,703.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.46% 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.