Healthcare of Ontario Pension Plan Trust Fund Purchases 4,722 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Ormat Technologies, Inc. (NYSE:ORA) by 2.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 182,939 shares of the energy company’s stock after purchasing an additional 4,722 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned about 0.30% of Ormat Technologies worth $14,075,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Quadrature Capital Ltd acquired a new position in shares of Ormat Technologies during the 1st quarter worth about $309,000. Tidal Investments LLC boosted its stake in shares of Ormat Technologies by 433.4% during the 1st quarter. Tidal Investments LLC now owns 15,075 shares of the energy company’s stock worth $998,000 after buying an additional 12,249 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Ormat Technologies during the 1st quarter worth about $246,000. Swedbank AB acquired a new position in shares of Ormat Technologies during the 1st quarter worth about $7,907,000. Finally, DekaBank Deutsche Girozentrale boosted its stake in shares of Ormat Technologies by 81.8% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 9,049 shares of the energy company’s stock worth $597,000 after buying an additional 4,072 shares during the last quarter. Institutional investors own 95.49% of the company’s stock.

Insider Buying and Selling at Ormat Technologies

In other news, Director Byron G. Wong sold 1,266 shares of Ormat Technologies stock in a transaction on Friday, September 20th. The stock was sold at an average price of $74.98, for a total transaction of $94,924.68. Following the completion of the sale, the director now owns 6,906 shares of the company’s stock, valued at approximately $517,811.88. This trade represents a 15.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ORA shares. Oppenheimer increased their price objective on shares of Ormat Technologies from $86.00 to $91.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Roth Mkm reiterated a “buy” rating and issued a $92.00 target price (up from $87.00) on shares of Ormat Technologies in a research note on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $84.50.

Ormat Technologies Trading Up 0.6 %

Shares of NYSE:ORA opened at $81.59 on Friday. Ormat Technologies, Inc. has a 52-week low of $59.41 and a 52-week high of $84.30. The company has a market capitalization of $4.93 billion, a P/E ratio of 41.63, a price-to-earnings-growth ratio of 4.22 and a beta of 0.53. The company has a 50-day simple moving average of $78.63 and a 200 day simple moving average of $75.41. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 0.95.

Ormat Technologies (NYSE:ORA) last issued its earnings results on Wednesday, November 6th. The energy company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.05. The business had revenue of $211.80 million during the quarter, compared to the consensus estimate of $215.53 million. Ormat Technologies had a net margin of 13.33% and a return on equity of 5.27%. Ormat Technologies’s revenue was up 1.8% on a year-over-year basis. During the same period last year, the business posted $0.47 EPS. Sell-side analysts forecast that Ormat Technologies, Inc. will post 1.93 earnings per share for the current year.

Ormat Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $0.48 annualized dividend and a yield of 0.59%. Ormat Technologies’s payout ratio is currently 24.49%.

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.