Erste Asset Management GmbH Invests $19.10 Million in Ormat Technologies, Inc. (NYSE:ORA)

Erste Asset Management GmbH bought a new position in Ormat Technologies, Inc. (NYSE:ORA) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 246,572 shares of the energy company’s stock, valued at approximately $19,096,000.

Other institutional investors also recently modified their holdings of the company. Blue Trust Inc. grew its stake in shares of Ormat Technologies by 180.3% in the 3rd quarter. Blue Trust Inc. now owns 356 shares of the energy company’s stock valued at $26,000 after buying an additional 229 shares in the last quarter. UMB Bank n.a. grew its position in Ormat Technologies by 107.7% in the third quarter. UMB Bank n.a. now owns 617 shares of the energy company’s stock worth $47,000 after acquiring an additional 320 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Ormat Technologies by 115.3% during the 2nd quarter. GAMMA Investing LLC now owns 730 shares of the energy company’s stock worth $52,000 after purchasing an additional 391 shares during the last quarter. DMC Group LLC bought a new position in shares of Ormat Technologies during the 3rd quarter valued at $204,000. Finally, Virtu Financial LLC acquired a new stake in shares of Ormat Technologies in the 1st quarter valued at $246,000. Institutional investors and hedge funds own 95.49% of the company’s stock.

Ormat Technologies Stock Up 0.0 %

Ormat Technologies stock opened at $81.62 on Monday. The firm has a market cap of $4.94 billion, a price-to-earnings ratio of 41.64, a P/E/G ratio of 4.22 and a beta of 0.53. The firm has a fifty day moving average price of $78.89 and a two-hundred day moving average price of $75.55. Ormat Technologies, Inc. has a fifty-two week low of $59.41 and a fifty-two week high of $84.30. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.87.

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

Ormat Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th will be given a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $0.48 annualized dividend and a dividend yield of 0.59%. Ormat Technologies’s dividend payout ratio is 24.49%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Roth Mkm reissued a “buy” rating and set a $92.00 target price (up from $87.00) on shares of Ormat Technologies in a research report on Friday, November 8th. Oppenheimer raised their price objective on Ormat Technologies from $86.00 to $91.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Three equities research 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.50.

Insider Transactions at Ormat Technologies

In related news, Director Byron G. Wong sold 1,266 shares of the stock in a transaction dated 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 sale, the director now owns 6,906 shares in the company, 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 is accessible through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

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.