Tudor Investment Corp ET AL Has $571,000 Stake in Ormat Technologies, Inc. (NYSE:ORA)
Tudor Investment Corp ET AL boosted its position in shares of Ormat Technologies, Inc. (NYSE:ORA) by 7.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,012 shares of the energy company’s stock after buying an additional 670 shares during the period. Tudor Investment Corp ET AL’s holdings in Ormat Technologies were worth $571,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of ORA. Norges Bank purchased a new stake in shares of Ormat Technologies during the fourth quarter worth $20,143,000. Stevens Capital Management LP bought a new stake in Ormat Technologies during the first quarter valued at approximately $226,000. Navellier & Associates Inc boosted its stake in Ormat Technologies by 2.3% in the first quarter. Navellier & Associates Inc now owns 8,090 shares of the energy company’s stock valued at $462,000 after buying an additional 180 shares during the period. UBS Asset Management Americas Inc. boosted its stake in Ormat Technologies by 45.8% in the first quarter. UBS Asset Management Americas Inc. now owns 16,671 shares of the energy company’s stock valued at $952,000 after buying an additional 5,233 shares during the period. Finally, IFP Advisors Inc bought a new stake in Ormat Technologies during the first quarter valued at approximately $154,000. Institutional investors own 45.96% of the company’s stock.
Ormat Technologies, Inc. (NYSE:ORA) traded up 0.57% during trading on Friday, hitting $57.97. The stock had a trading volume of 197,241 shares. The firm’s 50 day moving average is $58.85 and its 200 day moving average is $57.52. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of 29.25 and a beta of 1.20. Ormat Technologies, Inc. has a 1-year low of $45.30 and a 1-year high of $61.49.
Ormat Technologies (NYSE:ORA) last announced its quarterly earnings data on Thursday, August 3rd. The energy company reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.03. Ormat Technologies had a return on equity of 10.05% and a net margin of 14.26%. The company had revenue of $179.36 million during the quarter, compared to analysts’ expectations of $169.80 million. During the same quarter last year, the company earned $0.49 EPS. Ormat Technologies’s revenue for the quarter was up 12.2% compared to the same quarter last year. On average, analysts anticipate that Ormat Technologies, Inc. will post $2.32 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 29th. Investors of record on Tuesday, August 15th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date is Friday, August 11th. Ormat Technologies’s payout ratio is currently 16.08%.
ORA has been the subject of several analyst reports. Cowen and Company set a $67.00 price target on Ormat Technologies and gave the stock a “buy” rating in a research note on Monday, July 17th. Zacks Investment Research upgraded Ormat Technologies from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research report on Friday, May 12th. Oppenheimer Holdings, Inc. set a $65.00 price objective on Ormat Technologies and gave the stock a “buy” rating in a research report on Thursday, May 4th. BidaskClub raised Ormat Technologies from a “hold” rating to a “buy” rating in a report on Saturday, June 10th. Finally, Barclays PLC raised Ormat Technologies from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $54.00 to $59.00 in a report on Friday, May 26th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Ormat Technologies currently has an average rating of “Buy” and an average target price of $65.25.
In other news, CEO Isaac Angel sold 250,000 shares of Ormat Technologies stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $57.00, for a total value of $14,250,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Shimon Hatzir sold 3,074 shares of Ormat Technologies stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $61.20, for a total transaction of $188,128.80. Following the completion of the sale, the vice president now owns 3,074 shares of the company’s stock, valued at $188,128.80. The disclosure for this sale can be found here. Insiders have sold 11,083,033 shares of company stock valued at $631,792,760 in the last quarter. 22.97% of the stock is currently owned by corporate insiders.
About Ormat Technologies
Ormat Technologies, Inc is engaged in the geothermal and recovered energy power business. The Company designs, develops, builds, owns and operates geothermal and recovered energy-based power plants. Its equipment manufacturing operations are located in Israel. It conducts its business activities in two business segments: Electricity segment and Product segment.
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