Public Employees Retirement Association of Colorado Has $454,000 Stake in Ormat Technologies, Inc. (NYSE:ORA)

Public Employees Retirement Association of Colorado lowered its position in Ormat Technologies, Inc. (NYSE:ORA) by 4.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,333 shares of the energy company’s stock after selling 276 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Ormat Technologies were worth $454,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Capstone Investment Advisors LLC lifted its stake in Ormat Technologies by 265.2% in the 4th quarter. Capstone Investment Advisors LLC now owns 14,293 shares of the energy company’s stock valued at $1,083,000 after purchasing an additional 10,379 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Ormat Technologies by 15.8% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 144,778 shares of the energy company’s stock valued at $9,583,000 after buying an additional 19,797 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Ormat Technologies by 48.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 69,104 shares of the energy company’s stock worth $4,574,000 after acquiring an additional 22,413 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Ormat Technologies during the 1st quarter worth approximately $631,000. Finally, Mizuho Markets Americas LLC raised its stake in Ormat Technologies by 23.6% in the 1st quarter. Mizuho Markets Americas LLC now owns 133,198 shares of the energy company’s stock valued at $8,816,000 after acquiring an additional 25,438 shares during the period. Institutional investors own 95.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Ormat Technologies from $69.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Roth Mkm reiterated a “buy” rating and issued a $80.00 price target on shares of Ormat Technologies in a research note on Monday, August 12th. Finally, Oppenheimer raised their price objective on shares of Ormat Technologies from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $81.67.

Ormat Technologies Stock Performance

NYSE ORA opened at $77.04 on Friday. The firm has a 50-day moving average price of $74.47 and a two-hundred day moving average price of $71.11. Ormat Technologies, Inc. has a 12-month low of $58.73 and a 12-month high of $78.51. The company has a market capitalization of $4.65 billion, a P/E ratio of 34.70, a P/E/G ratio of 3.71 and a beta of 0.53. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.72.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.03. Ormat Technologies had a return on equity of 5.40% and a net margin of 14.89%. The business had revenue of $212.96 million during the quarter, compared to analysts’ expectations of $214.07 million. During the same period in the previous year, the company posted $0.40 earnings per share. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. Analysts anticipate that Ormat Technologies, Inc. will post 2.04 earnings per share for the current year.

Ormat Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend was Tuesday, August 20th. Ormat Technologies’s payout ratio is currently 21.62%.

Insider Activity at Ormat Technologies

In other Ormat Technologies news, Director Byron G. Wong sold 1,266 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $74.98, for a total transaction of $94,924.68. Following the sale, the director now directly owns 6,906 shares in the company, valued at $517,811.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Ormat Technologies news, Director Dafna Sharir sold 433 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $74.91, for a total transaction of $32,436.03. Following the completion of the sale, the director now directly owns 3,561 shares in the company, valued at $266,754.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Byron G. Wong sold 1,266 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $74.98, for a total value of $94,924.68. Following the completion of the sale, the director now directly owns 6,906 shares in the company, valued at approximately $517,811.88. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Ormat Technologies Company 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.