Ormat Technologies, Inc. (NYSE:ORA) Holdings Boosted by Guinness Asset Management LTD

Guinness Asset Management LTD grew its holdings in Ormat Technologies, Inc. (NYSE:ORAGet Rating) by 5.6% in the first quarter, Holdings Channel.com reports. The firm owned 424,157 shares of the energy company’s stock after purchasing an additional 22,637 shares during the period. Ormat Technologies comprises approximately 1.3% of Guinness Asset Management LTD’s investment portfolio, making the stock its 23rd largest position. Guinness Asset Management LTD’s holdings in Ormat Technologies were worth $34,709,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ORA. Concord Wealth Partners grew its holdings in shares of Ormat Technologies by 286.0% during the fourth quarter. Concord Wealth Partners now owns 660 shares of the energy company’s stock valued at $52,000 after buying an additional 489 shares in the last quarter. NN Investment Partners Holdings N.V. purchased a new position in Ormat Technologies during the 4th quarter valued at about $111,000. Strs Ohio lifted its position in shares of Ormat Technologies by 111.1% in the fourth quarter. Strs Ohio now owns 1,900 shares of the energy company’s stock worth $150,000 after purchasing an additional 1,000 shares in the last quarter. Wetherby Asset Management Inc. purchased a new stake in shares of Ormat Technologies in the fourth quarter worth approximately $201,000. Finally, CIBC Asset Management Inc purchased a new position in Ormat Technologies during the fourth quarter valued at approximately $236,000. 96.42% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE ORA opened at $69.44 on Thursday. Ormat Technologies, Inc. has a 12 month low of $60.32 and a 12 month high of $88.52. The company has a market cap of $3.89 billion, a P/E ratio of 59.86, a P/E/G ratio of 3.71 and a beta of 0.45. The business’s 50 day moving average is $78.98 and its two-hundred day moving average is $76.32. The company has a quick ratio of 0.81, a current ratio of 0.87 and a debt-to-equity ratio of 0.61.

Ormat Technologies (NYSE:ORAGet Rating) last released its earnings results on Monday, May 2nd. The energy company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.32 by $0.03. The firm had revenue of $183.71 million during the quarter, compared to analysts’ expectations of $174.20 million. Ormat Technologies had a net margin of 9.59% and a return on equity of 3.70%. Sell-side analysts expect that Ormat Technologies, Inc. will post 1.27 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 31st. Investors of record on Monday, May 16th were paid a $0.12 dividend. The ex-dividend date of this dividend was Friday, May 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.69%. Ormat Technologies’s payout ratio is 41.38%.

A number of equities research analysts have issued reports on ORA shares. TheStreet raised shares of Ormat Technologies from a “c+” rating to a “b-” rating in a research note on Thursday, April 7th. StockNews.com downgraded Ormat Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, June 8th. Finally, Oppenheimer cut their price objective on shares of Ormat Technologies from $86.00 to $85.00 and set an “outperform” rating on the stock in a research report on Friday, February 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Ormat Technologies has a consensus rating of “Hold” and an average price target of $77.25.

In other news, Director Stanley Stern sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 31st. The shares were sold at an average price of $80.85, for a total transaction of $606,375.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Isaac Angel sold 9,502 shares of the firm’s stock in a transaction on Monday, June 6th. The shares were sold at an average price of $81.86, for a total value of $777,833.72. Following the sale, the director now directly owns 39,615 shares of the company’s stock, valued at $3,242,883.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,661 shares of company stock valued at $3,945,340. 1.30% of the stock is owned by company insiders.

Ormat Technologies Company Profile (Get Rating)

Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guadeloupe, Guatemala, Ethiopia, New Zealand, Honduras, and internationally. It operates through 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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