DekaBank Deutsche Girozentrale Acquires 370 Shares of Ormat Technologies, Inc. (NYSE:ORA)

DekaBank Deutsche Girozentrale lifted its holdings in Ormat Technologies, Inc. (NYSE:ORA) by 8.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,977 shares of the energy company’s stock after purchasing an additional 370 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Ormat Technologies were worth $380,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Creative Planning lifted its position in shares of Ormat Technologies by 2.1% in the second quarter. Creative Planning now owns 5,429 shares of the energy company’s stock worth $425,000 after purchasing an additional 111 shares in the last quarter. Mackenzie Financial Corp increased its holdings in Ormat Technologies by 4.4% during the fourth quarter. Mackenzie Financial Corp now owns 3,097 shares of the energy company’s stock worth $268,000 after buying an additional 131 shares during the last quarter. Toroso Investments LLC increased its holdings in Ormat Technologies by 15.8% during the third quarter. Toroso Investments LLC now owns 1,065 shares of the energy company’s stock worth $91,000 after buying an additional 145 shares during the last quarter. FMR LLC increased its holdings in Ormat Technologies by 13.0% during the second quarter. FMR LLC now owns 1,465 shares of the energy company’s stock worth $115,000 after buying an additional 169 shares during the last quarter. Finally, Guinness Atkinson Asset Management Inc increased its holdings in Ormat Technologies by 1.2% during the third quarter. Guinness Atkinson Asset Management Inc now owns 15,944 shares of the energy company’s stock worth $1,115,000 after buying an additional 194 shares during the last quarter. Institutional investors own 95.49% of the company’s stock.

Insider Buying and Selling

In related 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 completion of the sale, the director now owns 4,835 shares of the company’s stock, valued at $323,703.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is currently owned by company insiders.

Ormat Technologies Price Performance

NYSE:ORA opened at $60.97 on Tuesday. Ormat Technologies, Inc. has a one year low of $58.73 and a one year high of $88.64. The company has a market cap of $3.68 billion, a P/E ratio of 29.17, a P/E/G ratio of 2.92 and a beta of 0.48. The firm’s fifty day moving average price is $65.31 and its two-hundred day moving average price is $67.24. 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 (NYSE:ORA) last released its quarterly earnings data on Wednesday, February 21st. The energy company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.60 by $0.07. Ormat Technologies had a net margin of 15.00% and a return on equity of 5.09%. The firm had revenue of $241.30 million for the quarter, compared to the consensus estimate of $239.71 million. During the same period in the previous year, the company earned $0.73 earnings per share. The company’s quarterly revenue was up 17.4% on a year-over-year basis. Equities analysts expect that Ormat Technologies, Inc. will post 2.2 earnings per share for the current year.

Ormat Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were paid a $0.12 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $0.48 annualized dividend and a dividend yield of 0.79%. Ormat Technologies’s dividend payout ratio (DPR) is presently 22.97%.

Analyst Ratings Changes

A number of brokerages recently weighed in on ORA. Oppenheimer lowered their target price on shares of Ormat Technologies from $84.00 to $83.00 and set an “outperform” rating on the stock in a report on Friday, January 19th. Barclays lowered their target price on shares of 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, TD Cowen lowered their target price on shares of Ormat Technologies from $74.00 to $70.00 and set a “market perform” rating on the stock in a report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Ormat Technologies presently has an average rating of “Hold” and an average 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.