Healthcare of Ontario Pension Plan Trust Fund Buys 4,722 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 2.6% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 182,939 shares of the energy company’s stock after acquiring an additional 4,722 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Ormat Technologies were worth $14,075,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ORA. Y.D. More Investments Ltd lifted its position in Ormat Technologies by 1,011.5% during the second quarter. Y.D. More Investments Ltd now owns 493,619 shares of the energy company’s stock worth $34,943,000 after purchasing an additional 449,209 shares during the period. Global Alpha Capital Management Ltd. raised its position in shares of Ormat Technologies by 6.1% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 2,446,624 shares of the energy company’s stock valued at $188,125,000 after buying an additional 140,882 shares in the last quarter. Swedbank AB bought a new stake in shares of Ormat Technologies during the 1st quarter worth approximately $7,907,000. Dimensional Fund Advisors LP lifted its holdings in shares of Ormat Technologies by 6.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,450,797 shares of the energy company’s stock worth $104,030,000 after acquiring an additional 86,291 shares during the period. Finally, Van Berkom & Associates Inc. boosted its position in shares of Ormat Technologies by 2.0% during the 2nd quarter. Van Berkom & Associates Inc. now owns 1,322,936 shares of the energy company’s stock worth $94,855,000 after acquiring an additional 25,799 shares in the last quarter. 95.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on ORA. Roth Mkm restated a “buy” rating and set a $92.00 target price (up from $87.00) on shares of Ormat Technologies in a research note on Friday, November 8th. Oppenheimer boosted their price target on Ormat Technologies from $86.00 to $91.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $84.50.

Ormat Technologies Stock Performance

Shares of Ormat Technologies stock opened at $81.59 on Friday. The company’s 50 day moving average price is $78.63 and its two-hundred day moving average price is $75.41. The firm has a market capitalization of $4.93 billion, a P/E ratio of 41.63, a P/E/G ratio of 4.22 and a beta of 0.53. Ormat Technologies, Inc. has a fifty-two week low of $59.41 and a fifty-two week high of $84.30. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.87.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings data 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. Ormat Technologies had a return on equity of 5.27% and a net margin of 13.33%. The company had revenue of $211.80 million for the quarter, compared to the consensus estimate of $215.53 million. During the same quarter last year, the business posted $0.47 EPS. Ormat Technologies’s revenue for the quarter was up 1.8% on a year-over-year basis. On average, equities analysts forecast that Ormat Technologies, Inc. will post 1.93 earnings per share for the current fiscal year.

Ormat Technologies Announces Dividend

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 issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend is Wednesday, November 20th. Ormat Technologies’s dividend payout ratio (DPR) is currently 24.49%.

Insider Transactions at Ormat Technologies

In other news, Director Byron G. Wong sold 1,266 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was 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 approximately $517,811.88. The trade was a 15.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.00% of the company’s stock.

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.