Nisa Investment Advisors LLC Acquires 150 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Nisa Investment Advisors LLC boosted its position in shares of Ormat Technologies, Inc. (NYSE:ORA) by 1.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm 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.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Creative Planning boosted its position in Ormat Technologies by 43.9% in the first quarter. Creative Planning now owns 1,874 shares of the energy company’s stock worth $107,000 after buying an additional 572 shares during the last quarter. US Bancorp DE boosted its position in Ormat Technologies by 33.6% in the first quarter. US Bancorp DE now owns 2,169 shares of the energy company’s stock worth $124,000 after buying an additional 545 shares during the last quarter. SG Americas Securities LLC boosted its position in Ormat Technologies by 16.6% in the first quarter. SG Americas Securities LLC now owns 2,285 shares of the energy company’s stock worth $130,000 after buying an additional 326 shares during the last quarter. Quantbot Technologies LP boosted its position in Ormat Technologies by 89.3% in the first quarter. Quantbot Technologies LP now owns 2,334 shares of the energy company’s stock worth $133,000 after buying an additional 1,101 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in Ormat Technologies during the fourth quarter worth $128,000. 45.33% of the stock is owned by institutional investors.

Ormat Technologies, Inc. (NYSE ORA) opened at 55.71 on Friday. The company’s 50-day moving average is $57.77 and its 200-day moving average is $57.77. Ormat Technologies, Inc. has a 52-week low of $45.30 and a 52-week high of $61.49. The firm has a market capitalization of $2.78 billion, a price-to-earnings ratio of 25.42 and a beta of 1.20.

Ormat Technologies (NYSE:ORA) last announced its quarterly earnings results on Thursday, August 3rd. The energy company reported $0.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.03. The business had revenue of $179.36 million during the quarter, compared to the consensus estimate of $169.80 million. Ormat Technologies had a net margin of 15.36% and a return on equity of 10.25%. The business’s revenue was up 12.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.49 EPS. Equities analysts predict that Ormat Technologies, Inc. will post $2.28 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 29th. Stockholders of record on Tuesday, August 15th will be issued a $0.08 dividend. The ex-dividend date is Friday, August 11th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.57%. Ormat Technologies’s dividend payout ratio is presently 14.61%.

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A number of research firms have recently commented on ORA. Cowen and Company reissued a “buy” rating and set a $67.00 target price on shares of Ormat Technologies in a research note on Friday. TheStreet cut shares of Ormat Technologies from a “b” rating to a “c+” rating in a research note on Monday, August 14th. Zacks Investment Research cut shares of Ormat Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. J P Morgan Chase & Co raised shares of Ormat Technologies from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $65.00 to $71.00 in a research note on Wednesday, June 7th. Finally, BidaskClub raised shares of Ormat Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, June 10th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $65.38.

In other news, Director David Granot sold 5,000 shares of the stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $57.70, for a total value of $288,500.00. Following the completion of the transaction, the director now owns 5,000 shares in the company, valued at approximately $288,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Zvi Krieger sold 7,704 shares of the firm’s stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $57.81, for a total transaction of $445,368.24. Following the transaction, the vice president now owns 7,704 shares of the company’s stock, valued at $445,368.24. The disclosure for this sale can be found here. Insiders sold a total of 11,067,154 shares of company stock valued at $630,894,268 in the last quarter. Insiders own 22.97% of the company’s stock.

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.