Mirae Asset Global Investments Co. Ltd. Has $4.57 Million Position in Ormat Technologies, Inc. (NYSE:ORA)

Mirae Asset Global Investments Co. Ltd. grew its position in Ormat Technologies, Inc. (NYSE:ORAFree Report) by 48.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,104 shares of the energy company’s stock after purchasing an additional 22,413 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.11% of Ormat Technologies worth $4,574,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. TFO Wealth Partners LLC raised its holdings in Ormat Technologies by 9,066.7% in the 4th quarter. TFO Wealth Partners LLC now owns 275 shares of the energy company’s stock worth $227,000 after acquiring an additional 272 shares during the period. GAMMA Investing LLC acquired a new position in shares of Ormat Technologies during the 4th quarter worth about $32,000. Manchester Capital Management LLC lifted its position in shares of Ormat Technologies by 593.0% during the 4th quarter. Manchester Capital Management LLC now owns 797 shares of the energy company’s stock worth $60,000 after purchasing an additional 682 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Ormat Technologies by 50.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,540 shares of the energy company’s stock valued at $117,000 after buying an additional 514 shares during the last quarter. Finally, PFG Investments LLC bought a new position in Ormat Technologies in the 1st quarter worth approximately $202,000. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Ormat Technologies

In related news, Director David Granot sold 686 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $73.46, for a total transaction of $50,393.56. Following the completion of the sale, the director now directly owns 4,832 shares of the company’s stock, valued at approximately $354,958.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.46% of the company’s stock.

Ormat Technologies Trading Up 1.9 %

ORA stock opened at $71.94 on Thursday. Ormat Technologies, Inc. has a 1-year low of $58.73 and a 1-year high of $85.82. The company has a current ratio of 1.12, a quick ratio of 1.02 and a debt-to-equity ratio of 0.73. The business’s 50 day moving average is $72.26 and its 200-day moving average is $68.67. The firm has a market cap of $4.35 billion, a P/E ratio of 32.41, a P/E/G ratio of 3.43 and a beta of 0.51.

Ormat Technologies (NYSE:ORAGet Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The energy company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.03). The company had revenue of $224.17 million during the quarter, compared to the consensus estimate of $224.38 million. Ormat Technologies had a net margin of 15.43% and a return on equity of 5.45%. Equities analysts anticipate that Ormat Technologies, Inc. will post 2.08 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 22nd were paid a dividend of $0.12 per share. The ex-dividend date was Tuesday, May 21st. This represents a $0.48 annualized dividend and a yield of 0.67%. Ormat Technologies’s dividend payout ratio is 21.62%.

Analysts Set New Price Targets

ORA has been the topic of several research analyst reports. Barclays lowered their price objective on shares of Ormat Technologies from $75.00 to $73.00 and set an “equal weight” rating on the stock in a research note on Monday, May 13th. UBS Group upped their price objective on shares of Ormat Technologies from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, May 14th. Oppenheimer lifted their target price on Ormat Technologies from $83.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. Finally, TD Cowen raised their price objective on Ormat Technologies from $70.00 to $76.00 and gave the stock a “hold” rating in a research report on Friday, May 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Ormat Technologies currently has an average rating of “Hold” and an average price target of $84.17.

View Our Latest Analysis on ORA

Ormat Technologies Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Ormat Technologies (NYSE:ORA)

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