Boston Advisors LLC Acquires New Holdings in Ormat Technologies, Inc. (ORA)

Boston Advisors LLC acquired a new stake in shares of Ormat Technologies, Inc. (NYSE:ORA) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 77,047 shares of the energy company’s stock, valued at approximately $4,704,000. Boston Advisors LLC owned about 0.15% of Ormat Technologies as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. UBS Asset Management Americas Inc. lifted its holdings in Ormat Technologies by 45.8% during the first quarter. UBS Asset Management Americas Inc. now owns 16,671 shares of the energy company’s stock valued at $952,000 after purchasing an additional 5,233 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in Ormat Technologies by 108.0% during the second quarter. BNP Paribas Arbitrage SA now owns 12,425 shares of the energy company’s stock valued at $729,000 after purchasing an additional 6,452 shares during the last quarter. BlackRock Inc. lifted its holdings in Ormat Technologies by 6,068.3% during the first quarter. BlackRock Inc. now owns 2,473,872 shares of the energy company’s stock valued at $141,210,000 after purchasing an additional 2,433,766 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Ormat Technologies by 5.8% during the first quarter. Vanguard Group Inc. now owns 3,223,631 shares of the energy company’s stock valued at $184,006,000 after purchasing an additional 177,288 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Ormat Technologies by 16.0% during the second quarter. Goldman Sachs Group Inc. now owns 177,762 shares of the energy company’s stock valued at $10,431,000 after purchasing an additional 24,457 shares during the last quarter. 46.44% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have commented on ORA. Zacks Investment Research downgraded shares of Ormat Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. TheStreet downgraded shares of Ormat Technologies from a “b” rating to a “c+” rating in a report on Monday, August 14th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $70.00 price objective (up from $65.00) on shares of Ormat Technologies in a report on Wednesday, September 27th. Cowen and Company set a $67.00 price objective on shares of Ormat Technologies and gave the company a “buy” rating in a report on Monday, July 17th. Finally, BidaskClub downgraded shares of Ormat Technologies from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Ormat Technologies currently has a consensus rating of “Buy” and a consensus price target of $66.38.

In other news, VP Shimon Hatzir sold 2,976 shares of Ormat Technologies stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $58.50, for a total transaction of $174,096.00. Following the transaction, the vice president now directly owns 2,976 shares of the company’s stock, valued at approximately $174,096. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Isaac Angel sold 250,000 shares of Ormat Technologies stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $57.00, for a total value of $14,250,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 341,859 shares of company stock worth $19,696,457. Insiders own 14.74% of the company’s stock.

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Shares of Ormat Technologies, Inc. (ORA) opened at 65.51 on Friday. The stock has a 50 day moving average of $60.91 and a 200-day moving average of $58.89. Ormat Technologies, Inc. has a one year low of $45.30 and a one year high of $65.52. The stock has a market capitalization of $3.27 billion, a P/E ratio of 29.89 and a beta of 1.22.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings data on Thursday, August 3rd. The energy company reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.03. Ormat Technologies had a return on equity of 10.25% and a net margin of 15.36%. The firm had revenue of $179.36 million for the quarter, compared to analysts’ expectations of $169.80 million. During the same period in the previous year, the firm earned $0.49 EPS. The business’s quarterly revenue was up 12.2% on a year-over-year basis. Equities analysts forecast that Ormat Technologies, Inc. will post $2.41 earnings per share for the current year.

Ormat Technologies Company Profile

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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Institutional Ownership by Quarter for Ormat Technologies (NYSE:ORA)

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