Vanguard Group Inc. Boosts Holdings in Ormat Technologies, Inc. $ORA

Vanguard Group Inc. increased its position in Ormat Technologies, Inc. (NYSE:ORA) by 0.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,032,782 shares of the energy company’s stock after purchasing an additional 4,708 shares during the quarter. Vanguard Group Inc. owned 0.10% of Ormat Technologies worth $580,654,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ORA. RWC Asset Management LLP increased its position in shares of Ormat Technologies by 8.8% during the third quarter. RWC Asset Management LLP now owns 136,101 shares of the energy company’s stock worth $13,100,000 after acquiring an additional 11,063 shares during the last quarter. Retirement Systems of Alabama grew its stake in Ormat Technologies by 169.7% during the 3rd quarter. Retirement Systems of Alabama now owns 189,988 shares of the energy company’s stock valued at $18,286,000 after purchasing an additional 119,552 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Ormat Technologies during the 3rd quarter worth approximately $3,738,000. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in Ormat Technologies during the 3rd quarter worth approximately $14,005,000. Finally, AGF Management Ltd. acquired a new position in shares of Ormat Technologies in the 3rd quarter valued at approximately $9,527,000. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Ormat Technologies Trading Up 0.4%

Shares of NYSE ORA opened at $115.69 on Wednesday. The company has a market cap of $7.03 billion, a price-to-earnings ratio of 53.07, a price-to-earnings-growth ratio of 4.66 and a beta of 0.77. The stock’s 50 day simple moving average is $118.52 and its 200 day simple moving average is $107.92. The company has a current ratio of 0.77, a quick ratio of 0.70 and a debt-to-equity ratio of 0.79. Ormat Technologies, Inc. has a 12-month low of $64.39 and a 12-month high of $132.58.

Analyst Ratings Changes

ORA has been the subject of a number of research analyst reports. Robert W. Baird set a $143.00 price target on shares of Ormat Technologies in a research note on Wednesday, January 14th. JPMorgan Chase & Co. upped their target price on shares of Ormat Technologies from $99.00 to $111.00 and gave the company a “neutral” rating in a research note on Wednesday, November 5th. Oppenheimer lifted their price target on Ormat Technologies from $125.00 to $136.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 27th. Weiss Ratings restated a “hold (c)” rating on shares of Ormat Technologies in a research note on Thursday, January 22nd. Finally, Citigroup lifted their target price on Ormat Technologies from $110.00 to $128.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 18th. Seven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.80.

Ormat Technologies Profile

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.