6,334 Shares in Ormat Technologies, Inc. $ORA Bought by Chesapeake Capital Corp IL

Chesapeake Capital Corp IL purchased a new position in shares of Ormat Technologies, Inc. (NYSE:ORA) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 6,334 shares of the energy company’s stock, valued at approximately $610,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its position in shares of Ormat Technologies by 43.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 371 shares of the energy company’s stock valued at $35,000 after acquiring an additional 113 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Ormat Technologies by 9.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,609 shares of the energy company’s stock valued at $135,000 after purchasing an additional 144 shares during the period. Crossmark Global Holdings Inc. raised its holdings in shares of Ormat Technologies by 4.3% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,803 shares of the energy company’s stock valued at $366,000 after purchasing an additional 158 shares during the period. Creative Planning lifted its stake in Ormat Technologies by 1.2% in the 2nd quarter. Creative Planning now owns 13,526 shares of the energy company’s stock valued at $1,133,000 after purchasing an additional 159 shares during the last quarter. Finally, CWM LLC lifted its stake in Ormat Technologies by 17.1% in the 3rd quarter. CWM LLC now owns 1,098 shares of the energy company’s stock valued at $106,000 after purchasing an additional 160 shares during the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

Insiders Place Their Bets

In other news, insider Jessica Woelfel sold 2,359 shares of Ormat Technologies stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $105.16, for a total transaction of $248,072.44. Following the completion of the sale, the insider owned 3,433 shares of the company’s stock, valued at approximately $361,014.28. This trade represents a 40.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.56% of the stock is owned by insiders.

Analysts Set New Price Targets

ORA has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Ormat Technologies in a report on Thursday, January 22nd. TD Cowen cut their price objective on Ormat Technologies from $131.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Jefferies Financial Group downgraded Ormat Technologies from a “buy” rating to a “hold” rating and lifted their target price for the stock from $125.00 to $130.00 in a research note on Friday, February 13th. Royal Bank Of Canada initiated coverage on Ormat Technologies in a report on Tuesday, March 3rd. They set an “outperform” rating and a $130.00 target price on the stock. Finally, Oppenheimer increased their price target on Ormat Technologies from $125.00 to $136.00 and gave the company an “outperform” rating in a research note on Tuesday, January 27th. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Ormat Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $129.09.

Ormat Technologies Price Performance

Ormat Technologies stock opened at $110.35 on Friday. Ormat Technologies, Inc. has a 12 month low of $64.39 and a 12 month high of $132.58. The stock’s 50 day moving average is $117.69 and its 200-day moving average is $109.30. The company has a current ratio of 0.81, a quick ratio of 0.75 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $6.71 billion, a price-to-earnings ratio of 54.90, a PEG ratio of 4.65 and a beta of 0.84.

Ormat Technologies (NYSE:ORA) last announced its earnings results on Wednesday, February 25th. The energy company reported $0.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.67. The company had revenue of $276.04 million for the quarter, compared to analyst estimates of $257.75 million. Ormat Technologies had a return on equity of 5.21% and a net margin of 12.52%.The firm’s quarterly revenue was up 19.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.67 earnings per share. Equities research analysts expect that Ormat Technologies, Inc. will post 1.94 EPS for the current year.

Ormat Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th will be given a dividend of $0.12 per share. The ex-dividend date is Tuesday, March 10th. This represents a $0.48 annualized dividend and a yield of 0.4%. Ormat Technologies’s dividend payout ratio (DPR) is presently 23.88%.

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.