5,845 Shares in Ormat Technologies, Inc. (NYSE:ORA) Bought by Caprock Group LLC

Caprock Group LLC bought a new stake in Ormat Technologies, Inc. (NYSE:ORA) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,845 shares of the energy company’s stock, valued at approximately $450,000.

Other institutional investors have also recently bought and sold shares of the company. Susquehanna International Group Ltd. acquired a new stake in shares of Ormat Technologies in the 2nd quarter valued at approximately $1,006,000. Tidal Investments LLC boosted its position in Ormat Technologies by 433.4% in the first quarter. Tidal Investments LLC now owns 15,075 shares of the energy company’s stock valued at $998,000 after buying an additional 12,249 shares in the last quarter. Y.D. More Investments Ltd boosted its position in Ormat Technologies by 1,011.5% in the second quarter. Y.D. More Investments Ltd now owns 493,619 shares of the energy company’s stock valued at $34,943,000 after buying an additional 449,209 shares in the last quarter. Chesapeake Capital Corp IL bought a new stake in shares of Ormat Technologies during the third quarter worth $522,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of Ormat Technologies by 2.8% during the second quarter. Bank of New York Mellon Corp now owns 560,029 shares of the energy company’s stock worth $40,154,000 after buying an additional 15,004 shares in the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

Ormat Technologies Stock Performance

NYSE ORA opened at $80.74 on Friday. The company has a market capitalization of $4.88 billion, a price-to-earnings ratio of 41.19, a PEG ratio of 4.14 and a beta of 0.53. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.73. Ormat Technologies, Inc. has a twelve month low of $59.41 and a twelve month high of $84.30. The stock has a fifty day simple moving average of $78.26 and a 200 day simple moving average of $75.10.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings results on Wednesday, November 6th. The energy company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.05. The company had revenue of $211.80 million during the quarter, compared to analysts’ expectations of $215.53 million. Ormat Technologies had a return on equity of 5.27% and a net margin of 13.33%. The business’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.47 earnings per share. Sell-side analysts expect that Ormat Technologies, Inc. will post 1.93 EPS for the current year.

Ormat Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th will be given a $0.12 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.59%. Ormat Technologies’s dividend payout ratio (DPR) is currently 24.49%.

Insider Transactions at Ormat Technologies

In related news, Director Byron G. Wong sold 1,266 shares of Ormat Technologies stock in a transaction on Friday, September 20th. The shares were sold at an average price of $74.98, for a total transaction of $94,924.68. Following the completion of the transaction, the director now owns 6,906 shares of the company’s stock, valued at $517,811.88. This trade represents a 15.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

ORA has been the topic of several recent research reports. Roth Mkm reissued a “buy” rating and set a $92.00 price objective (up previously from $87.00) on shares of Ormat Technologies in a report on Friday, November 8th. Oppenheimer lifted their price target on Ormat Technologies from $86.00 to $91.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Ormat Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $84.50.

About Ormat Technologies

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.