Strs Ohio Has $295,000 Position in Ormat Technologies, Inc. (NYSE:ORA)

Strs Ohio lessened its position in Ormat Technologies, Inc. (NYSE:ORA) by 15.2% in the 4th quarter, Holdings Channel reports. The firm owned 3,900 shares of the energy company’s stock after selling 700 shares during the period. Strs Ohio’s holdings in Ormat Technologies were worth $295,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Ormat Technologies by 12,165.8% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 691,298 shares of the energy company’s stock worth $48,336,000 after purchasing an additional 685,662 shares during the period. Impax Asset Management Group plc raised its holdings in Ormat Technologies by 15.0% during the 4th quarter. Impax Asset Management Group plc now owns 2,638,182 shares of the energy company’s stock worth $199,004,000 after buying an additional 343,650 shares during the period. Van Berkom & Associates Inc. lifted its stake in Ormat Technologies by 32.0% in the third quarter. Van Berkom & Associates Inc. now owns 1,035,686 shares of the energy company’s stock valued at $72,415,000 after buying an additional 250,884 shares in the last quarter. Global Alpha Capital Management Ltd. boosted its holdings in shares of Ormat Technologies by 6.4% in the third quarter. Global Alpha Capital Management Ltd. now owns 2,117,339 shares of the energy company’s stock valued at $149,232,000 after buying an additional 127,149 shares during the period. Finally, LGT Capital Partners LTD. increased its position in shares of 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 acquiring an additional 110,330 shares in the last quarter. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Ormat Technologies Stock Up 2.2 %

Shares of ORA stock opened at $64.48 on Tuesday. The firm’s fifty day moving average price is $64.88 and its two-hundred day moving average price is $66.95. Ormat Technologies, Inc. has a 1 year low of $58.73 and a 1 year high of $88.26. The company has a current ratio of 1.20, a quick ratio of 1.12 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $3.89 billion, a P/E ratio of 30.85, a PEG ratio of 2.95 and a beta of 0.48.

Ormat Technologies (NYSE:ORA) last released its earnings results on Wednesday, February 21st. The energy company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $239.71 million. During the same quarter in the previous year, the business earned $0.73 earnings per share. Ormat Technologies’s quarterly revenue was up 17.4% on a year-over-year basis. On average, equities analysts predict that Ormat Technologies, Inc. will post 2.14 EPS for the current fiscal 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 0.74%. The ex-dividend date of this dividend was Tuesday, March 5th. Ormat Technologies’s dividend payout ratio is currently 22.97%.

Insider Activity

In other Ormat Technologies news, Director Stanley Stern sold 1,825 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $66.95, for a total transaction of $122,183.75. Following the sale, the director now directly owns 4,835 shares of the company’s stock, valued at $323,703.25. The transaction 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.

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.