Quantbot Technologies LP Increases Stock Position in Ormat Technologies, Inc. (NYSE:ORA)

Quantbot Technologies LP boosted its stake in Ormat Technologies, Inc. (NYSE:ORA) by 23.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,538 shares of the energy company’s stock after acquiring an additional 5,933 shares during the period. Quantbot Technologies LP owned about 0.05% of Ormat Technologies worth $2,088,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Evexia Wealth LLC raised its holdings in shares of Ormat Technologies by 2.7% in the fourth quarter. Evexia Wealth LLC now owns 6,096 shares of the energy company’s stock valued at $462,000 after buying an additional 160 shares during the last quarter. Retirement Systems of Alabama increased its stake in shares of Ormat Technologies by 0.3% during the first quarter. Retirement Systems of Alabama now owns 67,453 shares of the energy company’s stock worth $4,465,000 after acquiring an additional 177 shares during the period. Harrington Investments INC increased its stake in shares of Ormat Technologies by 3.2% during the fourth quarter. Harrington Investments INC now owns 6,510 shares of the energy company’s stock worth $493,000 after acquiring an additional 200 shares during the period. New York State Teachers Retirement System increased its stake in shares of Ormat Technologies by 0.6% during the first quarter. New York State Teachers Retirement System now owns 31,880 shares of the energy company’s stock worth $2,110,000 after acquiring an additional 200 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased its stake in shares of Ormat Technologies by 5.1% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 5,014 shares of the energy company’s stock worth $380,000 after acquiring an additional 242 shares during the period. 95.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Transactions at Ormat Technologies

In other news, Director David Granot sold 686 shares of the stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $73.46, for a total value of $50,393.56. Following the completion of the sale, the director now owns 4,832 shares of the company’s stock, valued at $354,958.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.00% of the company’s stock.

Ormat Technologies Trading Up 1.7 %

Shares of ORA traded up $1.24 on Friday, hitting $75.23. 470,477 shares of the stock traded hands, compared to its average volume of 481,686. The company has a quick ratio of 1.02, a current ratio of 1.12 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $4.55 billion, a P/E ratio of 33.89, a P/E/G ratio of 3.59 and a beta of 0.51. The stock’s 50 day moving average is $72.56 and its two-hundred day moving average is $68.70. Ormat Technologies, Inc. has a 1 year low of $58.73 and a 1 year high of $85.82.

Ormat Technologies (NYSE:ORA) last posted 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 for the quarter, compared to analysts’ expectations of $224.38 million. Ormat Technologies had a return on equity of 5.45% and a net margin of 15.43%. As a group, sell-side analysts predict that Ormat Technologies, Inc. will post 2 earnings per share for the current year.

Ormat Technologies Dividend Announcement

The business also recently declared 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. This represents a $0.48 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend was Tuesday, May 21st. Ormat Technologies’s dividend payout ratio is currently 21.62%.

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.