15,100 Shares in Ormat Technologies, Inc. (NYSE:ORA) Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new position in shares of Ormat Technologies, Inc. (NYSE:ORA) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 15,100 shares of the energy company’s stock, valued at approximately $1,144,000.

Other large investors have also recently made changes to their positions in the company. Guinness Asset Management LTD increased its position in shares of Ormat Technologies by 5.7% during the third quarter. Guinness Asset Management LTD now owns 518,360 shares of the energy company’s stock worth $36,234,000 after purchasing an additional 28,058 shares in the last quarter. Guinness Atkinson Asset Management Inc increased its position in shares of Ormat Technologies by 1.2% during the third quarter. Guinness Atkinson Asset Management Inc now owns 15,944 shares of the energy company’s stock worth $1,115,000 after purchasing an additional 194 shares in the last quarter. LGT Capital Partners LTD. boosted its stake in Ormat Technologies by 26.6% during the fourth quarter. LGT Capital Partners LTD. now owns 524,710 shares of the energy company’s stock worth $39,768,000 after buying an additional 110,330 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new position in Ormat Technologies during the fourth quarter worth $1,516,000. Finally, Jupiter Asset Management Ltd. boosted its stake in Ormat Technologies by 32.1% during the third quarter. Jupiter Asset Management Ltd. now owns 185,147 shares of the energy company’s stock worth $12,945,000 after buying an additional 44,979 shares during the last quarter. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Stanley Stern sold 1,825 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $66.95, for a total transaction of $122,183.75. Following the transaction, the director now owns 4,835 shares of the company’s stock, valued at approximately $323,703.25. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.46% of the stock is owned by corporate insiders.

Ormat Technologies Stock Performance

Shares of Ormat Technologies stock opened at $65.17 on Wednesday. Ormat Technologies, Inc. has a 52 week low of $58.73 and a 52 week high of $88.64. The business’s fifty day simple moving average is $65.02 and its 200-day simple moving average is $67.05. The firm has a market cap of $3.94 billion, a PE ratio of 31.18, a price-to-earnings-growth ratio of 2.98 and a beta of 0.48. The company has a quick ratio of 1.12, a current ratio of 1.20 and a debt-to-equity ratio of 0.64.

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

Ormat Technologies Dividend Announcement

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

Analysts Set New Price Targets

ORA has been the topic of a number of recent research reports. TD Cowen lowered their price objective on Ormat Technologies from $74.00 to $70.00 and set a “market perform” rating on the stock in a research note on Friday, February 23rd. Oppenheimer lowered their price objective on Ormat Technologies from $84.00 to $83.00 and set an “outperform” rating on the stock in a research note on Friday, January 19th. Finally, Barclays lowered their price objective on Ormat Technologies from $82.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Monday, February 5th. One research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $81.00.

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.