Principal Financial Group Inc. Has $9.43 Million Stock Holdings in Ormat Technologies, Inc. (NYSE:ORA)

Principal Financial Group Inc. raised its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 1.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,227 shares of the energy company’s stock after buying an additional 1,321 shares during the period. Principal Financial Group Inc. owned 0.22% of Ormat Technologies worth $9,428,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ORA. Teacher Retirement System of Texas acquired a new stake in shares of Ormat Technologies in the first quarter valued at about $593,000. New York State Teachers Retirement System boosted its holdings in Ormat Technologies by 0.9% during the first quarter. New York State Teachers Retirement System now owns 32,180 shares of the energy company’s stock valued at $2,277,000 after purchasing an additional 300 shares in the last quarter. Amalgamated Bank boosted its holdings in Ormat Technologies by 4.3% during the first quarter. Amalgamated Bank now owns 25,662 shares of the energy company’s stock valued at $1,816,000 after purchasing an additional 1,068 shares in the last quarter. Perigon Wealth Management LLC boosted its holdings in Ormat Technologies by 8.8% during the first quarter. Perigon Wealth Management LLC now owns 3,440 shares of the energy company’s stock valued at $243,000 after purchasing an additional 278 shares in the last quarter. Finally, TT International Asset Management LTD acquired a new position in shares of Ormat Technologies in the 1st quarter worth approximately $1,196,000. 95.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ORA has been the topic of several recent analyst reports. Jefferies Financial Group boosted their target price on Ormat Technologies from $78.00 to $86.00 and gave the stock a “buy” rating in a report on Tuesday, March 25th. Wall Street Zen raised Ormat Technologies from a “sell” rating to a “hold” rating in a report on Monday, April 7th. Finally, Barclays boosted their target price on Ormat Technologies from $86.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $84.71.

Ormat Technologies Stock Performance

Shares of Ormat Technologies stock opened at $87.50 on Tuesday. The firm has a fifty day moving average of $78.86 and a two-hundred day moving average of $72.15. The stock has a market capitalization of $5.30 billion, a price-to-earnings ratio of 42.47, a PEG ratio of 4.23 and a beta of 0.64. Ormat Technologies, Inc. has a 52 week low of $61.58 and a 52 week high of $88.60. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.90 and a current ratio of 0.97.

Ormat Technologies (NYSE:ORA) last issued its earnings results on Wednesday, May 7th. The energy company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.58 by $0.10. The company had revenue of $229.76 million during the quarter, compared to analysts’ expectations of $228.33 million. Ormat Technologies had a net margin of 14.18% and a return on equity of 5.35%. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 EPS. As a group, equities research analysts predict that Ormat Technologies, Inc. will post 1.94 EPS for the current year.

Ormat Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 21st were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend was Wednesday, May 21st. Ormat Technologies’s payout ratio is 23.30%.

Insider Activity at Ormat Technologies

In related news, Director David Granot sold 950 shares of the company’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $73.10, for a total value of $69,445.00. Following the completion of the sale, the director owned 2,713 shares in the company, valued at $198,320.30. This represents a 25.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dafna Sharir sold 1,601 shares of the company’s stock in a transaction on Friday, June 20th. The shares were sold at an average price of $85.63, for a total transaction of $137,093.63. Following the completion of the sale, the director owned 3,238 shares of the company’s stock, valued at approximately $277,269.94. This represents a 33.09% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,329 shares of company stock worth $423,443. 0.56% of the stock is owned by company insiders.

About Ormat Technologies

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.