Intech Investment Management LLC Buys New Shares in Ormat Technologies, Inc. (NYSE:ORA)

Intech Investment Management LLC purchased a new position in Ormat Technologies, Inc. (NYSE:ORA) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 11,635 shares of the energy company’s stock, valued at approximately $895,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ORA. Blue Trust Inc. increased its stake in Ormat Technologies by 180.3% during the third quarter. Blue Trust Inc. now owns 356 shares of the energy company’s stock valued at $26,000 after acquiring an additional 229 shares during the period. UMB Bank n.a. increased its position in shares of Ormat Technologies by 107.7% during the third quarter. UMB Bank n.a. now owns 617 shares of the energy company’s stock valued at $47,000 after purchasing an additional 320 shares during the period. GAMMA Investing LLC raised its stake in shares of Ormat Technologies by 115.3% in the second quarter. GAMMA Investing LLC now owns 730 shares of the energy company’s stock valued at $52,000 after purchasing an additional 391 shares in the last quarter. DMC Group LLC bought a new position in Ormat Technologies in the third quarter worth $204,000. Finally, Virtu Financial LLC bought a new position in Ormat Technologies in the first quarter worth $246,000. Institutional investors own 95.49% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity at Ormat Technologies

In related news, Director Byron G. Wong sold 1,266 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $74.98, for a total value of $94,924.68. Following the completion of the transaction, the director now owns 6,906 shares in the company, valued at $517,811.88. The trade was a 15.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.46% of the stock is currently owned by company insiders.

Ormat Technologies Trading Up 0.6 %

Shares of Ormat Technologies stock opened at $81.59 on Friday. Ormat Technologies, Inc. has a 12-month low of $59.41 and a 12-month high of $84.30. The stock has a market capitalization of $4.93 billion, a P/E ratio of 41.63, a price-to-earnings-growth ratio of 4.24 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 quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.73.

Ormat Technologies (NYSE:ORA) last posted its earnings results on Wednesday, November 6th. The energy company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.05. The company had revenue of $211.80 million during the quarter, compared to analysts’ expectations of $215.53 million. Ormat Technologies had a net margin of 13.33% and a return on equity of 5.27%. Ormat Technologies’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.47 earnings per share. Research analysts expect that Ormat Technologies, Inc. will post 1.93 earnings per share for the current fiscal year.

Ormat Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th will be paid a $0.12 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.59%. Ormat Technologies’s dividend payout ratio (DPR) is presently 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.