Nisa Investment Advisors LLC increased its stake in Ormat Technologies, Inc. (NYSE:ORA) by 1.3% during the second quarter, Holdings Channel reports. The fund owned 11,350 shares of the energy company’s stock after buying an additional 150 shares during the period. Nisa Investment Advisors LLC’s holdings in Ormat Technologies were worth $670,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of ORA. BlackRock Inc. raised its position in shares of Ormat Technologies by 6,068.3% in the first quarter. BlackRock Inc. now owns 2,473,872 shares of the energy company’s stock valued at $141,210,000 after buying an additional 2,433,766 shares in the last quarter. Norges Bank acquired a new position in shares of Ormat Technologies during the fourth quarter valued at about $20,143,000. Renaissance Technologies LLC raised its position in shares of Ormat Technologies by 24.3% in the first quarter. Renaissance Technologies LLC now owns 921,157 shares of the energy company’s stock valued at $52,580,000 after buying an additional 179,900 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Ormat Technologies by 5.8% in the first quarter. Vanguard Group Inc. now owns 3,223,631 shares of the energy company’s stock valued at $184,006,000 after buying an additional 177,288 shares in the last quarter. Finally, Teachers Advisors LLC raised its position in shares of Ormat Technologies by 250.2% in the fourth quarter. Teachers Advisors LLC now owns 222,435 shares of the energy company’s stock valued at $11,927,000 after buying an additional 158,913 shares in the last quarter. Institutional investors own 45.91% of the company’s stock.
Shares of Ormat Technologies, Inc. (NYSE:ORA) traded down 0.14% during trading on Tuesday, hitting $57.94. The company had a trading volume of 41,029 shares. The stock has a 50-day moving average of $58.85 and a 200 day moving average of $57.52. Ormat Technologies, Inc. has a 12-month low of $45.30 and a 12-month high of $61.49. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 29.23 and a beta of 1.20.
Ormat Technologies (NYSE:ORA) last released its earnings results on Thursday, August 3rd. The energy company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.55 by $0.03. Ormat Technologies had a return on equity of 10.39% and a net margin of 15.36%. The business had revenue of $179.36 million during the quarter, compared to analysts’ expectations of $169.80 million. During the same quarter last year, the firm posted $0.49 earnings per share. The firm’s revenue was up 12.2% on a year-over-year basis. On average, analysts predict that Ormat Technologies, Inc. will post $2.32 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 29th. Investors of record on Tuesday, August 15th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, August 11th. This represents a $0.32 annualized dividend and a yield of 0.55%. Ormat Technologies’s dividend payout ratio is currently 14.61%.
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Several equities analysts recently issued reports on the company. BidaskClub upgraded Ormat Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, June 10th. Zacks Investment Research lowered Ormat Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, May 4th. J P Morgan Chase & Co upgraded Ormat Technologies from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $65.00 to $71.00 in a research report on Wednesday, June 7th. Cowen and Company reiterated an “outperform” rating and issued a $67.00 price objective on shares of Ormat Technologies in a research report on Wednesday, April 12th. Finally, Barclays PLC upgraded Ormat Technologies from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $54.00 to $59.00 in a research report on Friday, May 26th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $65.38.
In related news, CEO Isaac Angel sold 250,000 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $57.00, for a total transaction of $14,250,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Etty Rosner sold 879 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $56.39, for a total value of $49,566.81. Following the sale, the senior vice president now directly owns 879 shares of the company’s stock, valued at approximately $49,566.81. The disclosure for this sale can be found here. Insiders have sold 11,083,033 shares of company stock valued at $631,792,760 in the last ninety days. 22.97% of the stock is currently owned by insiders.
About Ormat Technologies
Ormat Technologies, Inc is engaged in the geothermal and recovered energy power business. The Company designs, develops, builds, owns and operates geothermal and recovered energy-based power plants. Its equipment manufacturing operations are located in Israel. It conducts its business activities in two business segments: Electricity segment and Product segment.
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