Ormat Technologies, Inc. (NYSE:ORA) Shares Bought by Y.D. More Investments Ltd

Y.D. More Investments Ltd grew its position in Ormat Technologies, Inc. (NYSE:ORA) by 1,011.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 493,619 shares of the energy company’s stock after purchasing an additional 449,209 shares during the period. Ormat Technologies makes up approximately 3.6% of Y.D. More Investments Ltd’s holdings, making the stock its 6th largest holding. Y.D. More Investments Ltd owned approximately 0.82% of Ormat Technologies worth $34,943,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in Ormat Technologies by 1.2% in the first quarter. Vanguard Group Inc. now owns 5,388,571 shares of the energy company’s stock valued at $356,670,000 after purchasing an additional 63,943 shares during the period. Global Alpha Capital Management Ltd. boosted its holdings in Ormat Technologies by 9.3% in the 4th quarter. Global Alpha Capital Management Ltd. now owns 2,313,856 shares of the energy company’s stock worth $177,552,000 after acquiring an additional 196,517 shares during the period. Van Berkom & Associates Inc. grew its position in Ormat Technologies by 2.0% in the second quarter. Van Berkom & Associates Inc. now owns 1,322,936 shares of the energy company’s stock valued at $94,855,000 after acquiring an additional 25,799 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Ormat Technologies by 2.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,256,304 shares of the energy company’s stock valued at $95,220,000 after purchasing an additional 31,450 shares during the period. Finally, Wellington Management Group LLP lifted its position in shares of Ormat Technologies by 3.5% during the fourth quarter. Wellington Management Group LLP now owns 1,041,169 shares of the energy company’s stock worth $78,910,000 after purchasing an additional 35,665 shares in the last quarter. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ORA shares. Oppenheimer lifted their price target on shares of Ormat Technologies from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. boosted their price target on Ormat Technologies from $69.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. Finally, Roth Mkm restated a “buy” rating and set a $80.00 price objective on shares of Ormat Technologies in a research note on Monday, August 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to MarketBeat, Ormat Technologies has a consensus rating of “Hold” and a consensus price target of $81.67.

Ormat Technologies Stock Performance

Shares of ORA stock opened at $73.69 on Thursday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.89 and a current ratio of 0.97. The stock has a market capitalization of $4.45 billion, a price-to-earnings ratio of 33.19, a PEG ratio of 3.57 and a beta of 0.53. Ormat Technologies, Inc. has a one year low of $58.73 and a one year high of $78.51. The company’s 50-day simple moving average is $73.91 and its 200-day simple moving average is $70.36.

Ormat Technologies (NYSE:ORA) last issued its earnings results on Tuesday, August 6th. The energy company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.37 by $0.03. The company had revenue of $212.96 million during the quarter, compared to analyst estimates of $214.07 million. Ormat Technologies had a return on equity of 5.40% and a net margin of 14.89%. The business’s revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.40 EPS. Equities analysts anticipate that Ormat Technologies, Inc. will post 2.04 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend was Tuesday, August 20th. Ormat Technologies’s dividend payout ratio is presently 21.62%.

Insider Buying and Selling

In other Ormat Technologies news, Director Dafna Sharir sold 433 shares of Ormat Technologies stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $74.91, for a total value of $32,436.03. Following the completion of the transaction, the director now directly owns 3,561 shares in the company, valued at $266,754.51. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.00% of the stock is owned by company insiders.

Ormat Technologies 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.