Y.D. More Investments Ltd Grows Holdings in Ormat Technologies, Inc. (NYSE:ORA)

Y.D. More Investments Ltd lifted its position in Ormat Technologies, Inc. (NYSE:ORA) by 39.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 51,599 shares of the energy company’s stock after purchasing an additional 14,600 shares during the period. Y.D. More Investments Ltd owned about 0.09% of Ormat Technologies worth $3,911,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC bought a new stake in Ormat Technologies during the fourth quarter valued at about $32,000. Envestnet Portfolio Solutions Inc. bought a new stake in Ormat Technologies in the 3rd quarter worth approximately $204,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Ormat Technologies by 56.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,186 shares of the energy company’s stock worth $223,000 after acquiring an additional 1,153 shares in the last quarter. Prime Capital Investment Advisors LLC purchased a new position in shares of Ormat Technologies in the fourth quarter valued at $257,000. Finally, Inspire Investing LLC increased its position in Ormat Technologies by 12.8% in the third quarter. Inspire Investing LLC now owns 4,400 shares of the energy company’s stock worth $308,000 after purchasing an additional 501 shares during the last quarter. 95.49% of the stock is currently owned by institutional investors.

Ormat Technologies Stock Up 3.0 %

Shares of ORA stock traded up $1.91 during mid-day trading on Wednesday, hitting $65.74. The stock had a trading volume of 384,886 shares, compared to its average volume of 478,486. The firm has a market capitalization of $3.97 billion, a P/E ratio of 30.54, a price-to-earnings-growth ratio of 3.02 and a beta of 0.48. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.20 and a quick ratio of 1.12. Ormat Technologies, Inc. has a 12-month low of $58.73 and a 12-month high of $88.26. The firm’s 50-day moving average is $64.77 and its two-hundred day moving average is $66.91.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings results on Wednesday, February 21st. The energy company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.60 by $0.07. The business had revenue of $241.30 million during the quarter, compared to analyst estimates of $239.71 million. Ormat Technologies had a net margin of 15.00% and a return on equity of 5.09%. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.73 EPS. On average, analysts predict that Ormat Technologies, Inc. will post 2.14 earnings per share for the current fiscal year.

Ormat Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend was Tuesday, March 5th. Ormat Technologies’s dividend payout ratio is currently 22.97%.

Insider Activity

In other news, Director Stanley Stern sold 1,825 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $66.95, for a total transaction of $122,183.75. Following the transaction, the director now owns 4,835 shares in the company, valued at $323,703.25. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ORA shares. TD Cowen lowered their price target on shares of Ormat Technologies from $74.00 to $70.00 and set a “market perform” rating for the company in a report on Friday, February 23rd. Barclays reduced their price target on Ormat Technologies from $82.00 to $75.00 and set an “equal weight” rating on the stock in a report on Monday, February 5th. Finally, Oppenheimer reduced their target price on Ormat Technologies from $84.00 to $83.00 and set an “outperform” rating on the stock in a research note on Friday, January 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $81.00.

Ormat Technologies Company Profile

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.