Strs Ohio Has $1,232,000 Stake in Ormat Technologies, Inc. (ORA)
Strs Ohio maintained its position in Ormat Technologies, Inc. (NYSE:ORA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,000 shares of the energy company’s stock at the end of the second quarter. Strs Ohio’s holdings in Ormat Technologies were worth $1,232,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Ormat Technologies by 5.8% in the first quarter. Vanguard Group Inc. now owns 3,223,631 shares of the energy company’s stock valued at $184,006,000 after buying an additional 177,288 shares during the last quarter. BlackRock Inc. boosted its position in Ormat Technologies by 6,068.3% in the first quarter. BlackRock Inc. now owns 2,473,872 shares of the energy company’s stock valued at $141,210,000 after buying an additional 2,433,766 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Ormat Technologies by 5.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,430,513 shares of the energy company’s stock valued at $81,654,000 after buying an additional 70,927 shares during the last quarter. Renaissance Technologies LLC boosted its position in Ormat Technologies by 24.3% in the first quarter. Renaissance Technologies LLC now owns 921,157 shares of the energy company’s stock valued at $52,580,000 after buying an additional 179,900 shares during the last quarter. Finally, State Street Corp boosted its position in Ormat Technologies by 4.9% in the first quarter. State Street Corp now owns 724,132 shares of the energy company’s stock valued at $41,332,000 after buying an additional 34,005 shares during the last quarter. 45.91% of the stock is owned by hedge funds and other institutional investors.
Ormat Technologies, Inc. (NYSE:ORA) opened at 56.13 on Monday. The stock’s 50 day moving average price is $58.24 and its 200 day moving average price is $57.68. The firm has a market capitalization of $2.80 billion, a PE ratio of 25.61 and a beta of 1.20. Ormat Technologies, Inc. has a 52-week low of $45.30 and a 52-week high of $61.49.
Ormat Technologies (NYSE:ORA) last issued its quarterly earnings data on Thursday, August 3rd. The energy company reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.03. The business had revenue of $179.36 million during the quarter, compared to the consensus estimate of $169.80 million. Ormat Technologies had a return on equity of 10.25% and a net margin of 15.36%. The business’s revenue was up 12.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.49 earnings per share. Analysts expect that Ormat Technologies, Inc. will post $2.28 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 29th. Stockholders of record on Tuesday, August 15th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.32 annualized dividend and a dividend yield of 0.57%. Ormat Technologies’s dividend payout ratio is presently 14.61%.
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Several research analysts recently commented on ORA shares. Cowen and Company set a $67.00 target price on Ormat Technologies and gave the stock a “buy” rating in a research note on Wednesday, May 10th. BidaskClub cut Ormat Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Zacks Investment Research cut Ormat Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, May 13th. J P Morgan Chase & Co raised Ormat Technologies from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $65.00 to $71.00 in a research note on Wednesday, June 7th. Finally, Barclays PLC raised Ormat Technologies from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $54.00 to $59.00 in a research note on Friday, May 26th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Ormat Technologies presently has an average rating of “Buy” and an average price target of $65.38.
In related news, EVP Bob Sullivan sold 7,151 shares of the business’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $58.13, for a total transaction of $415,687.63. Following the sale, the executive vice president now owns 7,151 shares of the company’s stock, valued at $415,687.63. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Isaac Angel sold 150,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $57.00, for a total value of $8,550,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,075,533 shares of company stock valued at $631,371,335. Insiders own 22.97% of the company’s stock.
Ormat Technologies Company Profile
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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