Aurora Investment Counsel Has $2.82 Million Holdings in Ormat Technologies, Inc. $ORA

Aurora Investment Counsel reduced its stake in Ormat Technologies, Inc. (NYSE:ORA) by 14.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,562 shares of the energy company’s stock after selling 4,311 shares during the period. Ormat Technologies accounts for 1.5% of Aurora Investment Counsel’s holdings, making the stock its 7th biggest holding. Aurora Investment Counsel’s holdings in Ormat Technologies were worth $2,824,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its stake in Ormat Technologies by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,910,292 shares of the energy company’s stock valued at $211,036,000 after purchasing an additional 43,749 shares in the last quarter. Geode Capital Management LLC increased its stake in Ormat Technologies by 6.8% in the fourth quarter. Geode Capital Management LLC now owns 1,611,360 shares of the energy company’s stock valued at $178,033,000 after purchasing an additional 102,864 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in Ormat Technologies by 62.6% in the second quarter. Canada Pension Plan Investment Board now owns 1,073,639 shares of the energy company’s stock valued at $89,928,000 after purchasing an additional 413,384 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Ormat Technologies by 155.8% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 886,526 shares of the energy company’s stock valued at $97,935,000 after buying an additional 540,000 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Ormat Technologies during the fourth quarter valued at about $86,545,000. 95.49% of the stock is owned by institutional investors.

Ormat Technologies Stock Up 1.5%

Shares of NYSE ORA opened at $138.43 on Friday. Ormat Technologies, Inc. has a 1 year low of $78.24 and a 1 year high of $146.39. The stock has a market capitalization of $8.51 billion, a P/E ratio of 67.20, a P/E/G ratio of 5.89 and a beta of 0.85. The company has a 50-day moving average price of $124.61 and a 200-day moving average price of $118.26. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.07 and a quick ratio of 1.02.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.38. Ormat Technologies had a net margin of 10.97% and a return on equity of 6.61%. The business had revenue of $403.91 million for the quarter, compared to analysts’ expectations of $349.17 million. During the same period in the previous year, the company earned $0.68 earnings per share. The firm’s revenue for the quarter was up 75.8% compared to the same quarter last year. On average, equities research analysts forecast that Ormat Technologies, Inc. will post 2.35 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 20th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Wednesday, May 20th. Ormat Technologies’s payout ratio is presently 23.30%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ORA shares. JPMorgan Chase & Co. lifted their price objective on shares of Ormat Technologies from $106.00 to $123.00 and gave the company a “neutral” rating in a report on Friday, May 8th. TD Cowen reduced their price objective on shares of Ormat Technologies from $131.00 to $125.00 and set a “buy” rating for the company in a report on Friday, February 27th. UBS Group lifted their price objective on shares of Ormat Technologies from $143.00 to $152.00 and gave the company a “buy” rating in a report on Friday, May 8th. Wolfe Research started coverage on shares of Ormat Technologies in a report on Monday, June 8th. They set a “peer perform” rating for the company. Finally, Roth Mkm reiterated a “buy” rating and set a $135.00 price objective on shares of Ormat Technologies in a report on Monday, May 11th. Eight research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $133.18.

Insider Transactions at Ormat Technologies

In other Ormat Technologies news, Director Byron G. Wong sold 4,500 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $134.32, for a total value of $604,440.00. Following the transaction, the director directly owned 5,925 shares in the company, valued at $795,846. The trade was a 43.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dafna Sharir sold 883 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $122.44, for a total transaction of $108,114.52. Following the completion of the sale, the director directly owned 3,140 shares in the company, valued at approximately $384,461.60. This trade represents a 21.95% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 30,721 shares of company stock valued at $4,105,657. Corporate insiders own 0.56% of the company’s stock.

About Ormat Technologies

Ormat Technologies, Inc is a leading renewable energy company specializing in geothermal and recovered energy power plants. Through its vertically integrated business model, Ormat designs, develops, engineers, constructs, owns and operates clean energy projects worldwide. The company’s core technology centers on the Organic Rankine Cycle (ORC), which converts heat from geothermal sources or industrial waste streams into sustainable electricity without combustion.

Ormat’s offering includes turnkey power plant solutions, proprietary ORC equipment and ongoing operations and maintenance services.