419 Shares in Ormat Technologies, Inc. (NYSE:ORA) Purchased by GAMMA Investing LLC

GAMMA Investing LLC acquired a new stake in Ormat Technologies, Inc. (NYSE:ORA) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 419 shares of the energy company’s stock, valued at approximately $32,000.

A number of other institutional investors also recently added to or reduced their stakes in ORA. Raymond James & Associates boosted its holdings in Ormat Technologies by 3.0% in the 3rd quarter. Raymond James & Associates now owns 10,923 shares of the energy company’s stock valued at $764,000 after purchasing an additional 317 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Ormat Technologies by 6.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,059 shares of the energy company’s stock valued at $1,333,000 after purchasing an additional 1,229 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Ormat Technologies by 4.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,179 shares of the energy company’s stock valued at $3,439,000 after purchasing an additional 1,891 shares in the last quarter. Inspire Investing LLC boosted its holdings in Ormat Technologies by 12.8% in 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 in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Ormat Technologies by 56.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,186 shares of the energy company’s stock valued at $223,000 after purchasing an additional 1,153 shares in the last quarter. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Ormat Technologies Trading Up 1.2 %

Shares of Ormat Technologies stock opened at $67.50 on Monday. 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, Inc. has a 1 year low of $58.73 and a 1 year high of $88.26. The company has a market capitalization of $4.08 billion, a P/E ratio of 32.30, a P/E/G ratio of 3.16 and a beta of 0.48. The business has a 50 day moving average price of $64.85 and a 200 day moving average price of $66.88.

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

Ormat Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were issued a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.48 annualized dividend and a yield of 0.71%. Ormat Technologies’s dividend payout ratio (DPR) is presently 22.97%.

Insider Transactions at Ormat Technologies

In other news, Director Stanley Stern sold 1,825 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $66.95, for a total transaction of $122,183.75. Following the completion of the sale, the director now directly owns 4,835 shares in the company, valued at approximately $323,703.25. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ORA shares. Barclays decreased their price target 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. Oppenheimer decreased their price target 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, TD Cowen decreased their price target 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $81.00.

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.