Quantbot Technologies LP Has $2.09 Million Stake in Ormat Technologies, Inc. (NYSE:ORA)

Quantbot Technologies LP boosted its stake in Ormat Technologies, Inc. (NYSE:ORA) by 23.2% in the first quarter, HoldingsChannel reports. The institutional investor owned 31,538 shares of the energy company’s stock after buying an additional 5,933 shares during the quarter. Quantbot Technologies LP’s holdings in Ormat Technologies were worth $2,088,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. GAMMA Investing LLC bought a new position in shares of Ormat Technologies during the 4th quarter worth $32,000. Manchester Capital Management LLC raised its holdings in shares of Ormat Technologies by 593.0% during the 4th quarter. Manchester Capital Management LLC now owns 797 shares of the energy company’s stock valued at $60,000 after buying an additional 682 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Ormat Technologies by 50.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,540 shares of the energy company’s stock valued at $117,000 after buying an additional 514 shares in the last quarter. PFG Investments LLC purchased a new position in Ormat Technologies in the 1st quarter worth approximately $202,000. Finally, TFO Wealth Partners LLC increased its stake in Ormat Technologies by 9,066.7% in the 4th quarter. TFO Wealth Partners LLC now owns 275 shares of the energy company’s stock worth $227,000 after purchasing an additional 272 shares during the period. 95.49% of the stock is owned by hedge funds and other institutional investors.

Ormat Technologies Price Performance

Shares of NYSE ORA traded up $1.24 during mid-day trading on Friday, reaching $75.23. The company’s stock had a trading volume of 470,477 shares, compared to its average volume of 481,686. The stock has a fifty day moving average of $72.56 and a two-hundred day moving average of $68.70. Ormat Technologies, Inc. has a 52 week low of $58.73 and a 52 week high of $85.82. The firm has a market capitalization of $4.55 billion, a PE ratio of 33.89, a P/E/G ratio of 3.59 and a beta of 0.51. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.12 and a quick ratio of 1.02.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings data on Wednesday, May 8th. The energy company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.03). Ormat Technologies had a net margin of 15.43% and a return on equity of 5.45%. The company had revenue of $224.17 million for the quarter, compared to analysts’ expectations of $224.38 million. As a group, sell-side analysts anticipate that Ormat Technologies, Inc. will post 2 EPS for the current fiscal year.

Ormat Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 22nd were issued a dividend of $0.12 per share. The ex-dividend date was Tuesday, May 21st. This represents a $0.48 annualized dividend and a yield of 0.64%. Ormat Technologies’s payout ratio is currently 21.62%.

Analyst Upgrades and Downgrades

ORA has been the topic of a number of recent analyst reports. Barclays cut their price objective on Ormat Technologies from $75.00 to $73.00 and set an “equal weight” rating on the stock in a research report on Monday, May 13th. TD Cowen boosted their target price on Ormat Technologies from $70.00 to $76.00 and gave the stock a “hold” rating in a report on Friday, May 10th. UBS Group boosted their price target on Ormat Technologies from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, May 14th. Finally, Oppenheimer boosted their price target on Ormat Technologies from $83.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, June 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Ormat Technologies currently has an average rating of “Hold” and a consensus target price of $84.17.

Insiders Place Their Bets

In other Ormat Technologies news, Director David Granot sold 686 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $73.46, for a total transaction of $50,393.56. Following the sale, the director now owns 4,832 shares of the company’s stock, valued at approximately $354,958.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by company insiders.

Ormat Technologies Profile

Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, Guadeloupe, New Zealand, Honduras, and internationally. It operates in three segments: Electricity, Product, and Energy Storage. The Electricity segment develops, builds, owns, and operates geothermal, solar photovoltaic, and recovered energy-based power plants; and sells electricity.